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Starting on November 1, 2017, the Oregon Division of Financial Regulation will accept applications for the Mortgage Servicer License and the Debt Buyer License on NMLS. The checklists for these licenses will be available here shortly. In addition, on November 1, 2017, the Division will start using the new Electronic Surety Bonds (ESB) through NMLS. More information on the...

OMAHA, Neb.–(BUSINESS WIRE)–Boston Omaha Corporation (NASDAQ: BOMN) (the “Company”) announced that on October 6, 2017, General Indemnity Group, LLC, a wholly owned subsidiary of the Company, entered into a Unit Purchase Agreement to acquire at a subsequent closing a majority equity interest in South Coast Surety Insurance Services, LLC (“South Coast”) from South Coast’s sole equityholder. South Coast is...

This summer, the Washington Supreme Court ended a long dispute within the construction industry and issued an opinion finding that a performance bond is, in essence, an insurance contract. The court made clear that a public owner who must sue to enforce coverage of a performance bond is entitled to Olympic Steamship fees. This case, King County v. Vinci...

Nowadays credit scores are important in countless instances. Applying for a mortgage, getting insurance or obtaining a surety bond for your business are all instances where a higher credit score is beneficial. Which is why you will probably find the below information good news. After settling a lawsuit in 2015, the three big credit reporting companies – Equifax, Experian...

Developers Sur. & Indem. Co. v. Carothers Constr., Inc., 2017 U.S. Dist. LEXIS 111021 (D.S.C. July 18, 2017); Developers Sur. & Indem. Co. v. Carothers Constr., Inc., 2017 U.S. Dist. LEXIS 135948 (D. Kan. Aug. 24, 2017) Two recent decisions from United States District Courts for the District of South Carolina and the District of Kansas, respectively, reached opposite...

The U.S. Small Business Administration announced today two important changes to its Surety Bond Guarantee (SBG) Program that will increase contract opportunities for small contractors, supporting them to grow their business operations. The changes will become effective on September 20, 2017. The SBA will increase the guarantee percentage in the Preferred Surety Bond Program from no more than 70...

It will not be insurtech startups that destroy the traditional insurance industry. Rather, it will be a complete lack of urgency in regards to the insurance customer experience. There is no more important aspect to the insurance customer experience over the next five years than speed to value. How quickly can you deliver value to your customers? The answer...

With the summer months behind us, the fall season in the construction industry will include the next steps in passing Bill 142, also known as the Act to Amend the Construction Lien Act. If implemented, Bill 142 will represent the most significant legislative reform seen in the Ontario construction industry since 1983, when the existing Construction Lien Act came...

Euler Hermes, the world’s leading trade credit insurer, today announced it has launched Surety- including performance and payment bonds – in its Americas region (U.S., Canada and Brazil). With nearly 100 years of global surety and bonding history, Euler Hermes is one of the world’s most experienced surety providers. ‘The addition of Surety is a natural evolution for Euler...

Chicago, Ill.-based Hub International Limited announced on Monday that Hub Quebec has purchased “certain assets” from Patrice Varin, through a corporation held by him. Terms of the acquisition were not disclosed. Varin will join Hub Quebec, bringing with him a commercial line book of business focused on offering bonds and surety-related products, Hub noted in a press release. Varin...