Bond-Pro | Surety Technology

Surety insurers prepare to commence operations in Mexico

Two years after the Insurance and Bonding Companies Law was enacted, surety insurance is finally starting to take effect in Mexico and coexist with other institutions that integrate the bonding sector. In Mexico, surety insurance is regulated as a mechanism to guarantee obligations, under which an insurer must indemnify...

May 29, 2017 Bond-Pro Webmaster Blog, Legislation, Repost.

SFAA Releases Preliminary 2016 Top 100 Reports

MAY 13, 2017, WASHINGTON, D.C.— The Surety & Fidelity Association of America (SFAA) released its annual Preliminary 2016 Top 100 Reports for both the surety and fidelity markets. The separate reports display the total premium of the industry, and the rankings of the top 100 surety and fidelity writers....

May 24, 2017 Bond-Pro Webmaster Blog, News.

A.M. Best Special Report: Potential Criminal Justice System Reform Could Cause Major Upheaval for Bail Bond Insurers

OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best believes legislative reform in the bail bond insurance sector of the fidelity and surety market segments has led to significant disruption, and the potential for further changes places the bail bond industry at a critical juncture with respect to its long-term health and viability. According...

May 22, 2017 Bond-Pro Webmaster Blog, Legislation, Repost.

SBA and NASBP to Hold Surety Bonding Credit Seminars for Small Businesses

WASHINGTON, May 8, 2017 /PRNewswire-USNewswire/ — The U.S. Small Business Administration’s Office of Surety Guarantees (OSG) and the National Association of Surety Bond Producers (NASBP) are partnering to offer a surety bond training event for small business owners on May 18, to provide greater contract bonding access to small...

May 18, 2017 Bond-Pro Webmaster Blog, News, Repost, Uncategorized.

Good Time to Get or Expand Your Surety Support

San Clemente, CA, May 09, 2017 –(PR.com)– Construction Contracting and Surety Construction Support for 2017 is following its predicted pattern of growth. With the recent years being fairly successful in the writing of performance and payment bonds. Without significant loss trends, the industry is responding by offering more aggressively...

May 15, 2017 Bond-Pro Webmaster Blog, Repost.

Northbridge acquires surety business of Fenchurch

TORONTO, May 9, 2017 – Northbridge Financial Corporation is expanding its product line to include surety bonds. Starting June 1, 2017, businesses across Canada will have access to an extensive selection of contract and commercial bonding solutions. “Northbridge is now open for surety business,” says Silvy Wright, President &...

May 11, 2017 Bond-Pro Webmaster Blog, M&A, Repost.

Ohio-Based Insurer Provides Surety Bonds For Ohio Medical Marijuana Control Program

CLEVELAND, May 2, 2017 /PRNewswire/ — Continental Heritage Insurance Company today announced a program to provide surety bonds to applicants for Ohio’s Medical Marijuana Program. Continental Heritage, based in Mayfield Heights, Ohio, is an insurance carrier rated A- by AM Best. Edward Feighan, an owner and director of Continental...

May 9, 2017 Bond-Pro Webmaster Blog, Legislation, Repost.

Canadian insurer Intact to buy U.S.-based OneBeacon for $1.7 billion

Intact Financial Corp (IFC.TO), Canada’s largest property and casualty insurer, said it would buy U.S.-based specialty insurer OneBeacon Insurance Group Ltd (OB.N) for $1.7 billion, creating a specialty insurer focused on small- and mid-sized businesses. The $18.10 cash offer represented a 15.3 percent premium to OneBeacon’s Tuesday close. Shares...

May 3, 2017 Bond-Pro Webmaster Blog, M&A, Repost.

Fidelity & Deposit Co. of Maryland (Zurich) Agrees To Pay $9.9M To End Fee Suit

Law360, New York (April 24, 2017, 5:18 PM EDT) — A surety bond company has agreed to pay just under $10 million to settle claims that a customer, debt-settlement payment processor Meracord LLC, charged illegal fees to debt-relief customers. Fidelity and Deposit Co. of Maryland will pay $9.875 million...

April 25, 2017 Bond-Pro Webmaster Blog, Claims, Repost.

Surety Experts Say Managing Risk Can Be Contractors’ New Competitive Advantage

Shift since the Great Recession toward increasingly complex projects with shorter deadlines has placed increased, novel risks on construction contractors A major shift in the construction industry as it has recovered from the Great Recession is increasingly complex building projects with shorter deadlines. The dynamic has created increased and...

April 21, 2017 Bond-Pro Webmaster Blog, Repost.