Issues plaguing the surety-bond industry

There are two main issues, involving the general public, hounding the surety-bond industry. First is the proliferation of fake bonds. Second is the presence of delinquent bonding companies.

With respect to fake bonds, it is usually government offices that fall victim to this nefarious activity. A number of administrative circulars…

Surety bonds: an alternative form of pension funding

Historically, it could be said that corporate pension scheme funding represented a topic which had long occupied a lowly position on the agendas of many employers. However, with regulation tightening and market conditions negatively impacting on un-hedged schemes – coupled with increased media attention – employers’ obligations are coming…

More States Are Adopting Electronic Surety Bonds

Many professionals in the financial and real estate industries undergo their licensing procedure via the National Multistate Licensing System and Registry (NMLS). The NMLS handles the licensing data of numerous types of specialists such as mortgage brokers, originators and lenders, money transmitters, and collection agencies, among others. While the…

SOMPO Holdings Completes Acquisition of Endurance Specialty Holdings

Launches Sompo International, to be its first fully integrated global commercial insurance and reinsurance platform

TOKYO and HAMILTON, Bermuda, March 28, 2017 (GLOBE NEWSWIRE) — Further to the announcement made on 5 October 2016, SOMPO Holdings, Inc. (“SOMPO”) is pleased to announce that following approval of the applicable regulatory authorities,…

How to Calculate Work-In-Process

Work-in-process, or WIP, is an account on the balance sheet where all the costs referring to a product or asset in production are recorded. It covers costs related to direct labor, direct materials, and MOH (applied manufacturing overhead).

The “WIP” account is debited (increased) by direct materials used in production,…

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