A Louisiana injunction bond or temporary restraining order bond is required more often than not under Louisiana Code, which unlike other states relies heavily on a Justinian-style of jurisprudence. The imposition of an injunction bond requirement is wholly discretionary however… Continue Reading →
Pursuant to Rule 4:52-1, a New Jersey injunction bond should be filed after a complaint seeking injunctive relief, temporary restraint or other interim relief has been granted and bond security ordered. The Rule states, “On the filing of a complaint seeking injunctive… Continue Reading →
A union fringe benefit bond, also sometimes referred to as a wage and welfare bond (collectively “Union Fringe Benefit and Wage Bond”) is often required by labor unions to guarantee that an employer will pay participating members the wages and… Continue Reading →
An adult at some stage of his (or her) game ponders his choice of profession and what if any contribution that he makes to the body common, his world, his family, etc. It’s easy to get caught up in the day-to-day… Continue Reading →
We’ve been reporting for years that there is a great deal of non-compliance with ERISA bond requirements. Our advice has always been that regardless of your plan size, number of participants or your opinion about exemptions for your plan, it… Continue Reading →
Fling an ERISA bond is a fiduciary duty required by the Employee Retirement Income Security Act of 1974 (ERISA), with few exceptions. The bond must be issued by a surety company that appears on the U.S. Treasury’s circular of insurers acceptable… Continue Reading →
Virtual currencies may suffer downturns and enjoy spectacular increases in value however there is no question that crypto is here to stay. Businesses that trade in these mediums will come under regulatory control and licenses will inevitably be required. Classified… Continue Reading →
Most insurance agents are independent entrepreneurs, self-motivated and eager to achieve success in their chosen profession. That independent streak is the same characteristic that can create blind spots when planning for and delivering a broad menu of insurance products. A surety… Continue Reading →
The financial services industry is a prime target for cybercriminals. Many insurance professionals and more specifically small insurance agencies are unprepared for a breach. Cyber risk for surety bond professionals is not an exception. Surety underwriters receive and regularly warehouse… Continue Reading →
A business services bond is a type of commercial crime coverage, sometimes referred to as a dishonesty bond which is narrowly written to cover the third party perils of specific types of businesses. Many professional and occupational service providers conduct… Continue Reading →
Grace Winkler Cranley and Michael J. Weber, counsel and partner with Dinsmore & Shohl LLP, have penned a great piece on the “novel scenarios” that this new “novel virus” has presented surety companies, contractors and project owners. The eight hundred pound gorilla… Continue Reading →
Contract surety bond underwriting is an art however the artist must also be an analyst. Analyzing the financial condition of a bond principal does not admit creativity. In fact, being “creative” with the numbers is a strict no-no. Coupled with… Continue Reading →
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