Archive for: February 2020

A surety that paid out more than $3.7 million in claims failed in its attempt to sue the principal’s bank because its claims were time-barred, a negligence claim failed as a matter of law, there was no confidential relationship as required for a constructive fraud claim and the elements...

Latest market study on “Surety Market to 2027 by Bond Type (Contract Surety Bond, Commercial Surety Bond, Fidelity Surety Bond, and Court Surety Bond) -Global Analysis and Forecast”, the surety Market is estimated to reach US$ 28.77 Bn by 2027 from US$ US$ 15.33 Bn in 2018. The report...

A captive insurance company (usually just referred to as a “captive” in short) is an insurance company that is set up to provide for the insurance needs of its owners, and them only. There are many types of captives, and they can be organized in many ways, most typically...

he Guarantee Company of North America wants to take a disputed claim on a 20-year-old performance bond to the Supreme Court of Canada. The top court announced Feb. 7 that The Guarantee is applying for leave to appeal HOOPP Realty Inc. v. The Guarantee Company of North America, released...

In Spain, private sector credit as a share of GDP almost doubled between 2000 and 2007. This increase was accompanied by a boom in housing prices—which doubled in real terms over the same period. The economy as a whole also grew at a record pace. But then in 2008,...

Texas surety law contains obscure procedural rules that can have outsized consequences. Chapter 43 of the Civil Practice and Remedies Code is an important example. Applicability This chapter applies to everything that is a “surety” as defined by the statute. The statute’s definition includes “an endorser, a guarantor, and...