Mike Murphy

Mike Murphy is executive vice president of HUB Northwest, Bothell, Washington. For more information, call (425) 489-4500.

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Contract BondMore Like This

Since the recession started in late 2007, the ability to present adequate surety capacity at a competitive cost has become increasingly critical for prime contractors and subcontractors to satisfy owner and lender requirements on private work. In many cases, bonding capacity and cost have been key determinants in winning—or losing—private jobs. Similarly, with public-private partnerships (P3s), it is essential for a contractor (or consortium of contractors) to find an innovative surety partner that is willing to accept obligations and risks that exceed what they traditionally bond. Continue »