Archive for: February 2019

A Connecticut construction firm must indemnify an Arch Insurance Group Inc. unit for $39.1 million in connection with the building of a minor league baseball stadium, a federal district court has ruled. Arch Insurance Co., a unit of Jersey City, New Jersey-based Arch Insurance Group, had issued surety bonds...

By the end of 2018, the construction and surety industries remained robust and resilient. For most contractors, backlogs are as strong as they have been in over a decade, margins have returned to pre-recession highs and work is abundant. For surety companies, profits are at an all-time high, loss...

AmTrust Financial Services; Crum & Forster, American Financial Group; The Travelers Indemnity Company; Liberty Mutual Insurance Company Surety Market report aims to provide a 360-degree view of the market in terms of cutting-edge technology, key developments, drivers, restraints and future trends with impact analysis of these trends on the...

DES MOINES, Iowa — Iowa Attorney General Tom Miller is busy making sure Iowans know a scam when they see one. Miller is cracking down on contractors. He proposed a new law that would require contractors to have a $75,000 bond they would pay customers if they fail to...

The economy could see more businesses becoming insolvent, with the number of trade credit insurance claims shooting up 41% in the December quarter from a year earlier. Data collected by National Credit Insurance (NCI) puts the value of each claim at about $97,000. Last year insurers paid out $64...

With a historic law overhauling California’s cash bail system on hold, bail customers on Tuesday filed a class-action lawsuit against more than 20 surety companies and agents in the state, alleging they have conspired to keep premiums high for criminal defendants. The antitrust case, which the plaintiffs’ attorneys said...