Clear Skies Ahead For US Surety Bond Sector

After 2 successive years of growth, rally in overall premiums is expected to continue

Things are looking bright for the surety bond industry.

After two successive years of growth, the rally in overall premiums is expected to continue next year despite an expected rise in loss activity. Industry experts say the…

Canada- Is there a labour and material payment bond on my project?: Why it’s always wise to ask

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Many owners, particularly large corporations or public entities, require contractors to provide a labour and material payment bond to ensure that sub-trades are paid and (hopefully) avoid protracted payment disputes. A typical labour and material bond creates a tri-partite relationship among the principal (the contractor who is being bonded),…

Federated Insurance Acquires Granite Re; Boosts Surety Offering

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Business insurance provider Federated Mutual Insurance Company has reached an agreement to acquire Granite Re, an Oklahoma-based provider of surety bonds for small to medium-sized contractors.

According to Federated Insurance, the acquisition better positions Federated Insurance to partner with commercial contractors for their surety and bonding needs.

Jeff Fetters, chairman, president…

Surety Not Bound by Subcontract’s Arbitration Provision, D.C. Federal Judge Rules

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WASHINGTON, D.C. — A surety company is not bound by an arbitration provision in a subcontract because the provision clearly only encompassed claims between the engineering company and its subcontractor, a District of Columbia federal judge has ruled.

In applying a heightened standard of “clear and unmistakable evidence,” Judge Tanya…

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