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.

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.

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.

SOMPO Holdings Completes Acquisition of Endurance Specialty Holdings

Launches Sompo International, to be its first fully integrated global commercial insurance and reinsurance platform TOKYO and HAMILTON, Bermuda, March 28, 2017 (GLOBE NEWSWIRE) — Further to the announcement made on 5 October 2016, SOMPO Holdings, Inc. (“SOMPO”) is pleased to announce that following approval of the applicable regulatory...

March 28, 2017 Bond-Pro Webmaster Blog, Clients, M&A, News, Repost.

Markel International to Start Writing Surety Business

According to Markel International, brokers have been asking for it – and now they’re going to get it. The company followed up on its announcement that it will enter the surety market last month by declaring earlier today that it is starting to write surety business after making two...

March 10, 2017 Bond-Pro Webmaster Blog, News, Repost.

Aviva asks 16,000 staff if their jobs can be done by robots

The feared robot takeover of insurance jobs may soon press ahead – UK industry giant Aviva, which sold its Aviva USA operations in 2013, is planning to consult its 16,000 employees on possible automation of roles, The Sunday Times reports. According to the report, Aviva will ask its workers...

February 28, 2017 Bond-Pro Webmaster Blog, Clients, News, Repost.

How to Calculate Work-In-Process

Work-in-process, or WIP, is an account on the balance sheet where all the costs referring to a product or asset in production are recorded. It covers costs related to direct labor, direct materials, and MOH (applied manufacturing overhead). The “WIP” account is debited (increased) by direct materials used in...

February 21, 2017 Bond-Pro Webmaster Blog, News, Repost.

A.M. Best Affirms Credit Ratings of Accredited Surety and Casualty Company, Inc.

OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Accredited Surety and Casualty Company, Inc. (Accredited) (Orlando, FL). The outlook of these Credit Ratings (ratings) is stable. Accredited is wholly owned by Randall & Quilter Investment...

February 16, 2017 Bond-Pro Webmaster Blog, News, Repost, Uncategorized.

Markel to Acquire SureTec Financial Corp

RICHMOND, Va. and HOUSTON, Feb. 1, 2017 /PRNewswire/ — Markel Corporation (“Markel”) (NYSE: MKL) and SureTec Financial Corp. (“SureTec”) announced today that they have entered into a definitive agreement for Markel to acquire SureTec for approximately $250 million, inclusive of a three-year earn out. The transaction is subject to...

February 2, 2017 Bond-Pro Webmaster Blog, M&A, News, Repost.

Aviva CEO Sees Asia Insurance Agents Disappearing on Digital

Aviva Plc’s Chief Executive Officer Mark Wilson said the number of insurance agents in some of Asia’s most developed markets could halve over the next three years as digital sales start to eat into their commissions. The agents, used by some Chinese mainlanders to avoid capital controls, have been...

January 10, 2017 Bond-Pro Webmaster Blog, Clients, Repost.