Bond-Pro | Surety Technology

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.

Issues plaguing the surety-bond industry

There are two main issues, involving the general public, hounding the surety-bond industry. First is the proliferation of fake bonds. Second is the presence of delinquent bonding companies. With respect to fake bonds, it is usually government offices that fall victim to this nefarious activity. A number of administrative...

April 17, 2017 Bond-Pro Webmaster Blog, News, Repost.

Surety bonds: an alternative form of pension funding

Historically, it could be said that corporate pension scheme funding represented a topic which had long occupied a lowly position on the agendas of many employers. However, with regulation tightening and market conditions negatively impacting on un-hedged schemes – coupled with increased media attention – employers’ obligations are coming...

April 11, 2017 Bond-Pro Webmaster Blog, Repost.

More States Are Adopting Electronic Surety Bonds

Many professionals in the financial and real estate industries undergo their licensing procedure via the National Multistate Licensing System and Registry (NMLS). The NMLS handles the licensing data of numerous types of specialists such as mortgage brokers, originators and lenders, money transmitters, and collection agencies, among others. While the...

April 5, 2017 Bond-Pro Webmaster Blog, News, Repost.