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EAST ST. LOUIS – A Godfrey corporation and two individuals are accused of failing to provide indemnity per the terms of their agreement with a surety company. Travelers Casualty and Surety Co. of America filed a complaint on Aug. 3 in the U.S. District Court for the Southern District of Illinois against Heafner Contracting Inc., Michael Heafner and Sally...

On Monday, the U.S. District Court for the District of Columbia ruled that bonding companies can be held liable for treble damages under the False Claims Act for issuing surety bonds to construction companies that falsely claim to be a Service-Disabled Veteran-Owned Small Business (SDVOSB). In a novel reverse False Claims Act case, whistleblower Andrew Scollick alleged that the...

Mechanic’s liens provide security for nonpayment to subcontractors and suppliers on private projects. Because mechanic’s liens are not valid against property that is owned by the state or a municipality, the Little Miller Act (C.G.S §49-41 et seq.) was implemented to provide subcontractors and suppliers working on public works projects with a similar level of security. Pursuant to the...

Unforeseen issues drove the cost to overhaul Encanto Elementary 30 percent over budget. The project’s contractor was facing financial problems at the same time of the cost increases; but the district is adamant that there’s no link between the company’s issues and the cost overruns. Encanto Elementary needed a lot of work. And last month, the San Diego Unified...

US-based Markel Corporation has entered into a definitive agreement to acquire State National Companies, a specialty provider of property/casualty insurance operating in two niche markets – programmes services and lender services, for approximately $919 million. Under the agreement, which has been approved by both companies’ board of directors, Markel will acquire all of the outstanding shares of State National...

BOSTON–(BUSINESS WIRE)–General Indemnity Group, LLC, (“GIG”), a subsidiary of Boston Omaha Corporation (NASDAQ: BOMN) announced today that it acquired Surety Support Services, Inc., of Overland Park, Kansas. Tracing its origins back almost 40 years, Surety Support Services (“SSS”) provides surety-only services to contractors, insurance agents, brokers, and all types of businesses. In addition to expertise with hard to place...

Trisura Group Ltd., a surety and commercial specialty insurer that was spun off this year from Toronto-based Brookfield Asset Management Inc., plans to begin writing insurance in the United States. In a July 12 press release, Trisura said it “has received its Certificate of Authority from the Oklahoma Insurance Department for Trisura Specialty Insurance Company.” Trisura’s business lines are...

Chicago, IL – July 13, 2017 – The Warranty Group, a leading global provider of warranty solutions and underwriting services, is pleased to announce the promotion of Justin Thomas to Executive Vice President of the newly established Specialty Solutions group. In this capacity, Thomas is responsible for the overall business operations and growth of this segment, including client management,...

A newly-formed commercial insurance fronting provider, Clear Blue Financial Holdings LLC, said it has officially launched with two fully-licensed fronting carriers and will begin servicing clients immediately. To launch its fronting operation, Puerto Rico-based Clear Blue Financial Holdings last month acquired two specialty insurance companies as shells. It acquired RLI Indemnity Co. from Mt. Hawley Insurance Co. for $...

i2B Capital has closed an $8 million structured term loan to National Surety Underwriters (NSU) to fund the capitalization of a new reinsurance subsidiary and the merger of McCabe and Independent Corporate Underwriters. NSU – a special-purpose surety reinsurance captive and underwriting agency headquartered in Philadelphia – is the sole owner of the reinsurance entity, National Fidelity Reinsurance Company,...