surety bonds News

Is It M for Thousand and MM for Million, or K for Thousand and M for Million? I’m Asking for a Friend

This post is part of a series sponsored by Old Republic Surety. If you’re confused about the letter designations that stand for thousands and millions, you’re not alone. And it’s not your fault. In fact, it’s one of our most …

Why Character Is So Important for Underwriting Surety Bonds

This post is part of a series sponsored by Old Republic Surety. When a surety company asks personal questions of construction clients, they may think the surety is too invasive. Here’s why the answers to those questions are so important …

Lessons from the Field: Why Business Continuity Planning Is Essential

This post is part of a series sponsored by Old Republic Surety. Perpetuation is a concern not only for insurance agencies and sureties, but also for their construction company clients. Without a business continuity plan, a construction company risks its …

Maintaining Surety Credit in Times of Growth and Transition

This post is part of a series sponsored by Old Republic Surety. Growth, expansion and acquisitions are all good, right? Not necessarily. Here’s what you need to know to keep your construction company in good standing with your surety company. …

South Dakota Moves to Liquidate Surety Insurer ReliaMax

ReliaMax Surety Co. has been placed into liquidation by the South Dakota Division of Insurance. The South Dakota DOI petitioned the Hughes County Circuit Court on June 12, 2018, to place ReliaMax into liquidation due to insolvency. Judge Patricia J. …

Continental Heritage Insurance Launches Ohio Medical Marijuana Bond Program

Ohio’s Continental Heritage Insurance Co. has rolled out a program to provide surety bonds to applicants for Ohio’s Medical Marijuana Program. Edward Feighan, an owner and director of Continental Heritage, is leading the new bond program. Feighan is a former …

New Bill Grants Bonding Assistance to Small Businesses in New Jersey

A recently passed bipartisan bill in New Jersey has brought good news to small businesses that want to participate on public construction projects. Senate Bill 123, signed by Governor Chris Christie on January 4, introduces a new program that will …

2017 Changes to Used Car Dealer Bonds in New York

Those in the business of selling used cars in the state of New York will need to comply with new surety bond requirements in the spring of 2017. The car dealer bond is part of the licensing criteria enforced by …

Bonding Requirement Added for Maryland Structured Settlement Companies

A new bonding requirement for structured settlement factoring companies in Maryland took effect on October 1. The bonding requirement was introduced with the passing of Maryland Senate Bill 734 which specifies a number of new conditions for structured settlement transfers …

QBE Approved by Treasury for $73.5 Million in Surety Bond Capacity

QBE Insurance Corp. (QBEIC) has been approved by the United States Department of Treasury as a Certified Company with an underwriting limitation (also referred to as a Treasury Listing) of $73.5 million per bond. This builds upon a previously approved …