Bond-Pro | Surety Technology

Auditor Wants Surety Bonds For Medicaid Providers, Saying Most Overpayments Don’t Get Paid Back

The state auditor says he wants Medicaid providers to insure that they’ll do the work the state is paying them for by putting up some money to prove it. He’s backing a bill that he says will help the state recover money spent on fraudulent payments. Auditor Dave Yost...

March 1, 2018 Bond-Pro Webmaster Blog, News, Repost.

Nevada To Regulate Tax Preparers, Require Bonds

Nevada tax preparers have been required to comply with a number of new requirements as of July of last year. These requirements include the necessity to pay application and renewal fees to become registered as a document preparation service, as well as to obtain and maintain a surety bond....

February 28, 2018 Bond-Pro Webmaster Blog, Legislation, News, Repost.

California Offers First Cannabis Surety Bond to Protect Nascent U.S. Industry

The state’s budding cannabis industry gets a push in the right direction via a new surety bond issuance. The cannabis industry continues to struggle for recognition in the U.S., even as more enlightened policies in Canada have tilted the competitive advantage in that country’s favor. But a new surety...

February 27, 2018 Bond-Pro Webmaster Blog, News, Repost.

The rough seas of the offshore surety bond market

The insurance industry was not the first thought John Hohlt had when he was studying Finance at Fordham University. During the summer months of 2012, he sought opportunities in the real estate industry and eventually served as a licensed real estate agent for DSA Realty Services. After graduating, he...

February 26, 2018 Bond-Pro Webmaster Blog, Repost.

Surety providers’ argument [Guarantee] rejected by Supreme Court of Canada

An argument from a group of insurers and brokers – that construction contractors should not have a duty to inform subcontractors of the existence of a surety bond – has been rejected by the Supreme Court of Canada. In Valard Construction Ltd. v. Bird Construction Co., released Thursday, Canada’s...

February 20, 2018 Bond-Pro Webmaster Blog, Legislation, Repost.

Portals are dead. Brokers have moved on to real-time

As insurers move away from their legacy systems and onto more flexible platforms such as Guidewire and Duck Creek, the days appear numbered for portal solutions. Real-time data exchange is now front and center as a priority for the Insurance Broker Association of Canada (IBAC), the national broker association...

February 15, 2018 Bond-Pro Webmaster Blog, News, Repost.

Peabody’s mine rehab bonds an Australian first

Peabody’s use of third-party surety bonds aims to to help liberate the cash it has tied up in bank guarantees. Big insurance companies will provide Australian governments with financial guarantees linked to the rehabilitation of coal mines run by Peabody Energy, under a third-party surety bond issuance that Peabody...

February 13, 2018 Bond-Pro Webmaster Blog, News, Repost.

Infrastructure Boom Would Aid Many Smaller Surety Writers, Say A.M. Best Senior Analysts

LDWICK, N.J.–(Business Wire)–In this A.M.BestTV episode, A.M. Best’s Senior Financial Analyst Robert Valenta and Senior Research Analyst David Blades review a new report that examines the growth of the U.S. surety insurance segment and the forces shaping it. Click on http://www.ambest.com/v.asp?v=surety218 to view the entire program. Bolstered by strong...

February 7, 2018 Bond-Pro Webmaster Blog, News, Repost.

Are PPPs The Answer To The U.S.’S $1.5 Trillion Dollar Infrastructure Plan?

In the State of the Union address, President Donald Trump called for $1.5 trillion in infrastructure spending from a combination of federal, state, and local government sources working along with the private sector. The funds are much-needed: America’s crumbling roads and threadbare broadband coverage have been well documented—as has...

February 2, 2018 Bond-Pro Webmaster Blog, News, Repost.

State ups oversight on project (Travelers)

Final payment being withheld until completion State officials are withholding millions of dollars in payment from the contractor of the new Broughton Hospital until the project is completed. The amount of the final payment will be around $6 million, said Mark Benton, North Carolina deputy secretary of health services...

January 30, 2018 Bond-Pro Webmaster Blog, Claims, Repost.