Surety executives reveal how contractors can make the most of the surety relationship. They also speak out on the need for diversity in the industry and why a contractor should share its safety program and results with the surety.
What is bonding’s role in building sustainable businesses? The Surety & Fidelity Association of America’s (SFAA) Surety Summit on Sept. 24 brought together organizations and companies that assist small and emerging contractors with bonding, surety underwriters and bond producers to talk about how bonding benefits disadvantaged, minority and small business enterprise (D/M/SBEs) and to assure alignment and support in assisting D/M/SBEs become sustainable, bondable businesses. Continue »
The nation’s slowly dropping unemployment rate may be a sign that the economy is on the road to recovery. But surety executives still expect the next year to be tough for the construction industry as the impact of the recession and depleted backlogs continue to take a toll on contractors’ balance sheets. “Contractors at all levels face significant challenges in acquiring work and getting adequate margins, while dealing with owners who are having budget and staffing issues themselves,” says Rod Williams, chief underwriting officer for Liberty Mutual Surety. Continue »