• Prompt Claims Reporting

    Prompt Claims Reporting0

    By Builders Mutual Your insurance premium isn’t just another bill to pay each month. Your coverage is an important part of your business toolbox, helping to take care of injured workers, repair or replace damaged equipment, provide financial protection, and much more. Prompt claims reporting is important for speedy action if an incident does occur and

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  • Trust But Verify: Prequalifying Project Owners and GCs

    Trust But Verify: Prequalifying Project Owners and GCs0

    BY Gregory R. Veal, Bovis, Kyle, Burch & Medlin, LLC  Much attention is given to qualifying potential surety bond principals, where underwriters examine a contractor or subcontractor’s capital, capacity, and character to determine single and aggregate bonding lines of credit. What about the other party to the bonded contract—the obligee? The project owner may be

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  • WIP Reports Speak Volumes: What Does Yours Say to a Surety?

    WIP Reports Speak Volumes: What Does Yours Say to a Surety?0

    By Merchants Bonding Company A construction company’s work-in-progress (WIP) report speaks volumes about an organization’s competence and financial stability.  What should a WIP say, especially to the surety using it to extend surety credit?  WHY WIP? For top construction companies, WIP reports are a best practice. Used correctly, they can be a powerful risk management

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