Archive for: November 2017

Old Republic Surety Increases Limits of Their Fastbond Program

Old Republic Surety Company announced today that they have increased the limits of their FastBond product. Old Republic Surety’s Fastbond program has increased from $250,000 to $400,000 for the credit-only. Additionally, the single limit/aggregate of their FastBond program has increased from $750,000 to $1,250,000. Old Republic Surety’s FastBond program...

Developers Surety and Indemnity Co. (AmTrust) seeks damages over alleged breach of indemnity agreements

PITTSBURGH – A surety bond issuer alleges it was damaged by several contractors/subcontractors because of a breach of indemnity agreements. Developers Surety and Indemnity Co. (Amtrust) filed a complaint on Oct. 19 in the U.S. District Court for the Western District of Pennsylvania against Iron City Constructors Inc., Iron...

SBA Amends Surety Bond Guarantee Program

The Small Business Administration has introduced changes to its Surety Bond Guarantee Program that aim to present better opportunities for small-scale contractors. The new rules apply as of September 20, 2017 and was published in the Federal Register in August 2017. The most important amendment raises the threshold for...

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