2024-04-19 00:00
The state statute that obligates contractors to provide bonding, RCW 18.27.040 (1) has been amended to require increased Washington contractor license bond penalties. Effective July 1st of t… Read More
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Surety bond authority SuretyOne.com offer frequent posts on surety and fidelity bond topics, new bonding opportunities, tips on applying for and having better success in obtaining approval for surety bonds.
2024-04-07 22:40
Happy spring to all and, did you remember your surety bond renewal? Whether you’re a contractor, a business owner, or a professional in need of surety bonds, understanding the renewal… Read More
2024-02-28 01:09
Per the Small Business Administration’s recent announcement, “Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in Presiden… Read More
2024-02-04 22:50
The Surety Business After Supreme Court Decision on DEI presents a new risk management concern. In the case of Students for Fair Admissions, Inc. v. President & Fellows of Harvard Colleg… Read More
2023-07-20 00:23
It appears that the State of Nevada will require a surety bond from private education loan lenders and servicers. Assembly Bill 332 amends Nevada Rev. Statutes Title 55 relating to Banks and… Read More
2023-07-19 00:44
To write more surety business, it’s important to focus on building strong relationships with clients and demonstrating your expertise in the field. Surety (especially “contract s… Read More
2023-07-08 21:56
A personal representative bond (probate and fiduciary surety bond class) guarantees the diligent and honest conduct of the personal representative. State probate codes almost universally all… Read More
2023-06-30 02:44
Surety reinsurance can be difficult to procure. Reinsurers can be fickle, changing their preference and appetites for many reasons. Some treaties and cession agreements can be merely an acco… Read More
2023-06-29 00:23
Undertaking construction projects in the City of Los Angeles can be complex and challenging. From acquiring the necessary permits to adhering to stringent regulations, builders, contractors… Read More
2022-01-30 05:22
A DC personal representative bond is required of probate administrators unless specifically waived. D.C. Code §20–502 is instructive. Subsection (a) clearly defines the requiremen… Read More
2022-01-30 02:43
A Florida probate bond is generally the bond of a personal representative. Administrator, administratrix, executor, executrix, trustee under a will, etc., are synonymous with “personal… Read More
2022-01-30 02:02
A North Carolina probate bond is required of applicants for a fiduciary role in the estate of deceased persons under specific circumstances. An administrator bond (or administratrix), execut… Read More
2021-12-24 22:07
Surety bond underwriters involved in the review of guardianship bond applications must consider many factors when determining that a principal is capable of caretaking not only of a ward&rsq&hell…Read More
2021-11-23 02:49
Title 27 of the state annotated code establishes the Montana preliminary injunction bond requirement and the appropriate procedure for moving and perfecting an injunction. Chapter 19 (Parts… Read More
2021-11-21 00:34
A Connecticut temporary injunction bond is a well-established requirement in support of injunctive relief within Chapter fifty two of the Connecticut General Statutes. The restraining mechan… Read More
2021-11-14 03:41
Injunctive relief is contemplated under Kansas statute however a Kansas injunction bond is a financial assurance instrument required by §60-905 before an enjoining order may take effect… Read More
2021-11-12 01:22
An Oklahoma temporary injunction bond is required before an injunction or temporary restraining order may take effect. Pursuant to §12-1382, a moving party is granted an injunction… Read More
2021-11-11 02:42
A Texas preliminary injunction bond and temporary restraining order bond are synonymous pursuant to state civil procedure. Per Tex. R. Civ. P. 684, “The court sets the surety bond… Read More
2021-11-07 22:08
A Wyoming injunction bond is addressed within Rule 65 of the Wyoming Rules of Practice and Procedure. The mechanism for seeking a preliminary injunction is almost identical to that of a temp… Read More
2021-10-27 04:11
An Ohio injunction bond is contemplated under Ohio Civ.R. 65. Pursuant to Section (C), A temporary restraining order or preliminary injunction is not operative until the party obtaining… Read More
2021-10-24 03:05
A Michigan preliminary injunction bond requirement is wholly discretionary as contemplated under Mich. Ct. R. 3.310. Pursuant to (A)(1), ” . . . an injunction may n… Read More
2021-10-03 02:40
An ERISA fidelity bond, with few exceptions, is required by federal law (ERISA) for the protection of plan assets from the dishonest acts of plan trustees. An Employee Stock Ownership Plan (… Read More
2021-09-18 22:53
A North Carolina preliminary injunction bond and bond to secure a temporary restraining order are synonymous under N.C.G.S. §1A-1. Rule 65 is the operative statute of the injunction/TRO… Read More
2021-09-18 02:30
A West Virginia injunction bond and the prerequisites of procuring a preliminary injunction or temporary restraining order are contemplated under Rules of Civil Procedure: Section VIII… Read More
2021-09-17 00:59
A Missouri injunction bond and temporary restraining order bond are synonymous terms within the context of Missouri civil procedure. Rule 92 of the Rules of Civil Procedure is the opera… Read More
2021-09-15 00:18
Per Chancery Court Rules, a Delaware injunction bond must be filed with the court before any restraining order or injunction will be issued. Pursuant to Rule 65, “No preliminary injunc… Read More
2021-09-14 01:31
An Illinois injunction bond (a/k/a restraining order bond or preliminary injunction bond) is contemplated under Illinois Compiled Statutes, as are the requirements to obtain an enjoining or… Read More
2021-09-12 23:59
A Pennsylvania injunction bond is required by statute to perfect a preliminary or special injunction, except for those cases in which the plaintiff is the Commonwealth of Pennsylvania… Read More
2021-09-12 02:37
A Florida temporary injunction bond is required in order to perfect an injunction order in this jurisdiction. The mechanism is contemplated under Fla. R. Civ. P. 1.610, “A temporary in… Read More
2021-09-11 01:02
A Louisiana injunction bond or temporary restraining order bond is required more often than not under Louisiana Code, which unlike other states relies heavily on a Justinian-style of jurispr… Read More
2021-09-09 01:40
Pursuant to Rule 4:52-1, a New Jersey injunction bond should be filed after a complaint seeking injunctive relief, temporary restraint or other interim relief has been granted and… Read More
2021-09-06 23:32
A union fringe benefit bond, also sometimes referred to as a wage and welfare bond (collectively “Union Fringe Benefit and Wage Bond”) is often required by labor unions to guaran… Read More
2021-09-05 23:36
A New York injunction bond is a mechanism available to a litigant to restrain a party from specifically identified actions or conduct that are generally considered prejudicial to the opposin… Read More
2021-09-04 02:30
An injunction bond is generally required to secure an order of injunctive relief in the civil courts of the State of California. Pursuant to Part 2, Title 7, Chapter 3 of the Code of Civil P… Read More
2021-08-08 01:46
An adult at some stage of their game ponders his (or her) choice of profession and what if any contribution that he makes to the body common, his world, his family, etc. It’s easy to g… Read More
2021-07-31 22:16
Construction is a risky business. Contractors know it and so do surety bond companies. Bob Tita, reporter for the Wall Street Journal recently authored an article discussing the current mate… Read More
2021-07-29 01:46
Janus Assurance Re is a direct source of bond capacity for international obligations that require surety support. Janus will consider contract surety applications lesser than or equal to ten… Read More
2021-07-10 23:11
For decades a North Carolina general contractor license bond has been out of reach for the large majority of license candidates have not been able to obtain bonding for lack of financial sta… Read More
2021-07-05 20:18
We’ve been reporting for years that there is a great deal of non-compliance with ERISA bond requirements. Our advice has always been that regardless of your plan size, number of partic… Read More
2021-06-20 21:59
Fling an ERISA bond is a fiduciary duty required by the Employee Retirement Income Security Act of 1974 (ERISA), with few exceptions. The bond must be issued by a surety company that ap… Read More
2021-06-20 00:14
A fidelity bond for a standard qualified, non-qualified, ESOP, MEP and an ERISA bond for a 403(b) plan (with an exception for certain church-sponsored accounts) is required to comply with th… Read More
2021-06-13 22:19
ERISA bond underwriters have generally avoided the fidelity bonding of multiemployer plans (MEPs) due to perceived risks with collective bargaining agreements and plan management responsibil… Read More
2021-05-23 22:17
Virtual currencies may suffer downturns and enjoy spectacular increases in value however there is no question that crypto is here to stay. Businesses that trade in these mediums will come un… Read More
2021-05-23 00:04
Cyber risks rise for commercial cannabis operators daily. A recent article by Don Jergler (Insurance Journal, May 2021) has made some really important observations about cyber risks associat… Read More
2021-04-15 03:33
As vaping becomes more popular, vaping product surety bond instruments and insurance coverages will appear to support the risks of the industry. Many states have already instituted regulatio… Read More
2021-03-22 01:34
Most insurance agents are independent entrepreneurs, self-motivated and eager to achieve success in their chosen profession. That independent streak is the same characteristic that can… Read More
2021-02-06 23:41
One of the nations’ foremost legal research groups, the National Legal Research Group, Inc. regularly publishes timely pieces on cases at law that impact surety bond professionals that… Read More
2020-12-13 07:48
In June of this year, a demolition contractor hired to remove the Regency House Building in Texarkana, inadvertently brought down an adjacent building. The contractor had been required to of… Read More
2020-12-06 01:48
The financial services industry is a prime target for cybercriminals. Many insurance professionals and more specifically small insurance agencies are unprepared for a breach. Cyber risk for… Read More
2020-11-29 00:57
There are classes of construction (and destruction) business for which surety bonds are readily available. Most surety companies prefer bonding jobs that they consider “sticks and bric… Read More
2020-11-28 07:13
Surety bond underwriting contemplates two major classes of bond; commercial surety bonds and contract surety bonds. General contractors are by far the most frequent requestors of the latter… Read More
2020-09-19 20:15
A business services bond is a type of commercial crime coverage, sometimes referred to as a dishonesty bond which is narrowly written to cover the third party perils of specific types of bus… Read More
2020-04-03 00:55
Grace Winkler Cranley and Michael J. Weber, counsel and partner with Dinsmore & Shohl LLP, have penned a great piece on the “novel scenarios” that this new “n… Read More
2020-02-23 23:45
Although ocean transport intermediaries form a small group of shipping professionals, there is a brisk demand for NVOCC bond and OFF bond capacity. Applying for the ocean freight forwarder (… Read More
2020-02-02 22:23
Contract surety bond underwriting is an art however the artist must also be an analyst. Analyzing the financial condition of a bond principal does not admit creativity. In fact, being &ldquo&hell…Read More
2020-01-19 01:15
An interesting article by Kayla Desroches (Report Raises Concerns Over Who Pays For Coal Mining Cleanup), raises concerns about the lack of reclamation bond coverage of mining operations in… Read More
2019-12-14 23:10
A fidelity bond, also known as a commercial crime policy provides excellent protection to business and government entities that employ persons with money or other things of value under their… Read More
2019-12-09 01:27
Many financial institutions must comply with fidelity bond requirements. Both corporation credit unions and natural person credit unions are no exception. A new Rule recently adopted by… Read More
2019-12-09 00:28
Por medio de la fianza, contratistas pueden acceder al mercado de obras públicas y proyectos más grandes, así mejorando sus ofertas y rentabilidad. Un artículo po… Read More
2019-12-07 23:53
Construction is an inherently risky business. Even the best general contractor can experience difficulties. For that reason surety bonds are required on large and public projects. A performa… Read More
2019-12-01 23:19
A fidelity bond (commercial crime coverage) is generally an inexpensive insurance protection when unexpected losses occur due to employee theft. A recent case example was reported by Matthew… Read More
2019-11-17 23:22
Pursuant to Federal Code (ERISA) and the Rules promulgated by the U.S. Department of Labor for implementation of the Employee Retirement Income Security Act of 1974, each and every employee… Read More
2019-10-22 01:24
The Hemp Farming Act of 2018, part of the larger Farm Bill effectively ended the prohibition on hemp cultivation, marketing and distribution. The Hemp Farming Act reverses a prohibition that… Read More
2019-10-20 22:51
Pawnbrokers are considered a form of financial institution and are regulated as one. A pawnbroker surety bond is currently required by approximately twenty states and many municipalities. Ge… Read More
2019-09-23 06:20
The answer is simple, . . . no. A fidelity bond is not a surety bond. It is commercial crime insurance. The purpose of insurance is to transfer specific risks of an insured to an insurer in… Read More
2019-09-03 04:07
A financial statement is the most important data source for the surety bond underwriter. Although there are a myriad of factors that influence the contract surety bonding underwriter’s… Read More
2019-06-09 23:26
Recent legislation and the delisting of hemp from the federal drug control schedules has prompted the legalization of hemp cultivation in Georgia, although the activity will be tightly restr… Read More
2019-01-13 00:57
As of the new year 2019, the Center for Medicare and Medicaid Services will require dentists that provide durable medical equipment and which participate in a CMS billing program to file a D… Read More
2018-12-17 03:22
Con suma alegría por la gracia de la amistad y lealtad de nuestros estimados clientes, socios y allegados queridos, Surety One, Inc. de Puerto Rico ha gozado de un año estelar… Read More
2018-12-17 02:20
On August 31st, 2018, the governor approved Senate Bill 2001, referred to as the “Alyce G. Clarke Mississippi Lottery Law” to be effective September 1st, 2018. The new statute es… Read More
2018-10-04 23:55
Surety bonds in Florida are subject to claims even if the claimant has agreed to a valid pay-if-paid clause in its contract with the principal. Sureties should still require principals to in… Read More
2018-09-16 01:02
A surplus lines broker bond is a specific surety bond required by many state departments of insurance. The license allows producers to offer surplus lines insurance. Surplus lines… Read More
2018-09-11 01:04
On September 4th, 2018, the Small Business Administration announced its decision to decrease the fees associated with the SBA Surety Bond Guarantee Program (SBG). The fee amendment is the fi… Read More
2018-09-09 19:13
A frustrating part of being a contract surety bond underwriter is finding oneself obligated to decline a performance bond to a contractor that appears to possess the prerequisite e… Read More
2018-02-10 23:57
Suretyship has been around a LOOOOOONG time. There are records of surety bond accords that stretch back the the Code of Hammurabi. The first “modern” definition for suretyship in… Read More
2017-11-05 21:10
نحن نحترم مبادئ الشريعة كما هو م… Read More
2017-07-30 23:01
A Virginia contractors license bond is required under certain circumstances when a contractor applies for authority to operate in the Commonwealth. The trigger for the surety bond requiremen… Read More
2017-07-29 23:36
A North Carolina invention development bond is one of the items required in order to be licensed as an invention development service. Doing business in the State as an “inven… Read More
2017-07-24 23:01
South Carolina statutes allow owners and contractors to file a South Carolina mechanic’s lien release bond to free a parcel of real property from a labor or material lien. Section… Read More
2017-07-23 21:26
Appeal from a civil judgment will require filing of a Pennsylvania supersedeas bond to stay enforcement of execution on the judgment. Pursuant to Rule 1731. Automatic Supersedeas of Ord… Read More
2017-07-22 21:20
An Illinois highway permit bond and permit are required under law (605 ILCS 5/4 209) when performing any work that encroaches or touches upon the right-of-way of an Interstate, U.S. sta… Read More
2017-07-16 19:37
Disagreement and litigation between general contractors and subcontractors is common. A Nevada mechanic’s lien release bond is an important mechanism available to contractors which &ld&hell…Read More
2017-07-15 22:00
We the team members of Surety One, Inc. take very seriously our responsibility to contribute to the relief of the sick, disabled, and less fortunate members of our communities. We give as li… Read More
2017-07-15 20:59
A financial adviser in the state of Utah must be licensed and post an Utah investment adviser bond if he or she receives compensation for providing advice on securities and other investments… Read More
2017-07-07 00:34
An employer that has sustained a Labor Standards Enforcement judgment against him or her retains the right of court review upon filing of a California Labor Commission appeal bond and notici… Read More
2017-07-06 21:53
In North Carolina if you wish to operate as an irrigation construction or contracting firm or advertise using any title or description that implies irrigation contracting you must be li… Read More
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