Category: Blog

Liberty Mutual Insurance Announces Agreement To Acquire The Domestic And International Surety And Credit Reinsurance Operations Of AmTrust

BOSTON, April 15, 2019 /PRNewswire/ — Liberty Mutual Insurance announced today it has signed a definitive agreement to acquire the global surety and credit reinsurance operations of AmTrust Financial Services, Inc. (AmTrust), a multinational property and casualty insurer specializing in coverage for small to midsized businesses. Upon closing, Liberty Mutual will acquire four AmTrust businesses:  AmTrust Surety,...

Coface strengthens its market position in the Adriatic region by acquiring SID – PKZ, the leading credit insurance company in Slovenia

Coface strengthens its market position in the Adriatic region by acquiring SID – PKZ, the leading credit insurance company in Slovenia Coface announces today the acquisition of SID – PKZ, the market leader in credit insurance in Slovenia with a high market share. As Coface has acquired all SID...

XBRL US Surety Working Group Initiates Public Review of Contractor Financials Data Standards

NEW YORK–(BUSINESS WIRE)–Apr 11, 2019–The XBRL US Surety Working Group, today announced the publication of a draft release of the Contractor Financials Taxonomy, which contains data standards to capture income statement and balance sheet information about contractors. The taxonomy was created by starting with an initial set of data...

Continuing bonds

A continuing bond, also called continuous bond, is a financial guarantee or a suretyship that renews automatically until it is canceled. Continuing bonds do not expire as long as the client makes the required payment for each renewal. In other words, it has an indefinite term. A continuing bond...

Study predicts high costs for pre-trial release

The report said the bail system costs taxpayers far less. As Florida lawmakers consider expanding pre-trial release programs, a new University of Tampa study suggests that the cost could be prohibitive. David Krahl, assistant professor of criminology and criminal justice, said sticking with bail will save the justice system...

North Dakota Modifies Surety Bond Requirements

legislation
North Dakota has modified the surety bond requirements under the Money Brokers Act. Presently, the law requires a surety bond in an amount not less than $25,000. N.D. Cent. Code Section 13-04.1-04.01(1). Effective August 1, 2019, the new minimum amount of the bond will be $50,000. https://www.natlawreview.com/article/north-dakota-modifies-surety-bond-requirements

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