county, state or public job the bid must be accompanied by a bid bond (typically for 10% of the amount of the job). This bond states that if the contract is awarded to the contractor (lowest bidder) then he cannot back out but must perform. Upon winning of the bid, a performance...
Main Street America’s Surety Bond Capacity Increased to $98M December 12, 2016 The U.S. Department of the Treasury has raised The Main Street America Group’s NGM Insurance Company’s single surety bond capacity threshold to $98.6 million. The super-regional property/casualty insurance carrier’...
county, state or public job the bid must be accompanied by a bid bond (typically for 10% of the amount of the job). This bond states that if the contract is awarded to the contractor (lowest bidder) then he cannot back out but must perform. Upon winning of the bid, a performance...
It’s wise for plan sponsors to know the difference between an ERISA fidelity bond and fiduciary liability insurance. Required by law, ERISA bonds protect the plan and participants. Though not mandated by the government,…Read Moreabout What’s The Difference: Bond Vs Insurance? What’s The Di...
The Gallagher commercial surety bond insurance provides access to bonds and sureties for the most complex projects.
The flexibility of fees, terms and surety bond values International recognition from importers and exporters Clear, limited scope in the event of a specific financial risk realising itself Speak to our trade finance team Publishing Partners Risk & Insurance Resources ...
Blockchain solutions in surety bonds are starting to appear, helping both the supplier and their customer to ensure the bond being issued is valid. The Institutes RiskStream Collaborative (the insurance industry’s largest enterprise-level blockchain consortium) and The International Credit Insurance ...
Unlike normal surety bonds, janitorial services fidelity bonds act like an insurance policy involving two parties: The Insured–The cleaning company. The cleaning company can file a claim on the bond to help cover losses due to fraudulent acts of the cleaning company’s employees. ...
The intent of this California Used Car Dealer Bond Buyer’s Guide is to shed light on a variety of subjects that are relevant to auto dealers in 2021. This is
Unlike normal surety bonds, janitorial services fidelity bonds act like an insurance policy involving two parties: The Insured– The cleaning company. The cleaning company can file a claim on the bond to help cover losses due to fraudulent acts of the cleaning company’s employees. The Insurer...