Bond-Pro | Surety Technology

Defendant Attorneys Chastised by Judge in Case Brought by Pinnacle Surety

Pinnacle Surety, a professional surety bond agency, today announced that in a recent ruling, a magistrate judge chastised the defendants for citing a vacated opinion and misrepresenting precedent. The judge ruled in Pinnacle’s favor in a motion against Manion Stigger, LLP, Cooper & Elliott, LLC, G. Bruce Stigger and...

May 29, 2019 Bond-Pro Webmaster Blog, Claims, Repost.

Canada: The End Of A Shareholder’s Corporate Duties And The End Of Suretyship: An Illustration

In June 2015, Location, a tool rental company, opened an account for the benefit of a company with which it was doing business, Boréalia. Boréalia obtained a thirty-day term to pay its bills and other benefits. Bussière was a shareholder of Boréalia, via his management company, and a director...

May 26, 2019 Bond-Pro Webmaster Blog, Claims, Repost.

The right technology partner can help carriers outlast market challenges

Innovation in technology, the growing use and availability of data, and changing customer expectations are all putting pressure on the insurance industry to transform – and fast. Alongside other forces, like the competition for new talent, product innovation, and regulatory influence, carriers are having to figure out how to...

May 23, 2019 Bond-Pro Webmaster Blog, Repost.

FM Global EVP: ‘AI is going to be a huge factor in the insurance industry’

Innovation is one of the biggest buzz words in insurance right now. It means different things to different people. While one firm might see innovation as investment into new ideas coming out of the insurtech ecosystem, another might see it as using technology to make improvements to something they’ve...

May 20, 2019 Bond-Pro Webmaster Blog, Repost.

Ohio Court of Appeals Confirms Applicability of Statute of Repose to Contract Claims and Sureties

This decision is a major victory for Ohio contractors and their sureties. The Fifth District Court of Appeals of Ohio issued a recent decision confirming that Ohio’s construction statute of repose, R.C. 2305.131, applies to breach of contract claims. It also confirmed that sureties are entitled to rely on...

May 17, 2019 Bond-Pro Webmaster Blog, Legislation, Repost.

‘Busiest’ construction season ever underway in Toronto with $1B in projects in the works

‘We just can’t afford to let our infrastructure continue to age,’ Mayor John Tory says Toronto has embarked on its “busiest” construction season ever with slightly more than $1 billion budgeted this year for work on roads, bridges, expressways, sewers and water mains, Mayor John Tory says. “We just...

May 15, 2019 Bond-Pro Webmaster Blog, News, Repost.

Trade credit insurance policy payouts hit 10-year high in Northern Ireland

The level of payouts on trade credit insurance policies have reached a 10-year high in Northern Ireland, an industry expert has said. Nigel Birney, head of trade credit at Willis Towers Watson, has today warned that the spike in credit insurance claims is a reflection of challenges facing Northern...

May 13, 2019 Bond-Pro Webmaster Blog, Claims, Repost.

Angie’s List: What does bonded and insured really mean?

Many contractors will promote that they’re bonded and insured. But what does that really mean for you as a consumer? In this week’s Angie’s List Report, we learn from Angie Hicks, the importance of asking about bonds and insurance. You’ll see it on their ads, their website, maybe even...

May 10, 2019 Bond-Pro Webmaster Blog, Repost.

SBA Recognizes the Office of Surety Guarantees Award Winners

WASHINGTON, May 7, 2019 /PRNewswire/ — The U.S. Small Business Administration (SBA) recognizes the Office of Surety Guarantees award winners for their continued work to help small contracting businesses acquire surety bonds. Three SBA surety bond partners were selected to receive awards based on their participation, activity, claims and...

May 7, 2019 Bond-Pro Webmaster Blog, News, Repost.

Surety Bond Producers Keep Eye Out For Illegal Waivers

A report from the annual convention of surety brokers and agents The surety bond industry regularly reminds state and local governments, politely, that public works in all states must involve surety bonds That’s the law. And the National Association of Surety Bond Producers, the bond agents trade group, has...

May 1, 2019 Bond-Pro Webmaster Blog, Clients, Repost.