Filed Under:Risk Management, Loss Control

Protect Prime Contractors' Businesses with Subcontractor Bonds

The recession had a broad impact on contractors, but it seems to have hit subcontractors particularly hard. Generally, subcontractors are small businesses with modest balance sheets, and even minor business disruptions can cause defaults. Subcontractor performance and payment bonds (sub-bonds) are one of the best ways for prime contractors to guard against such defaults.

Unlike other products, sub-bonds offer a combination of payment and performance protection. Independent agents have an opportunity to educate their customers about the benefits of these financial tools.


Building On a Rebound

As construction heats up, producer opportunity abounds in selling cover for enlarged vehicle fleets, as well as CGL and E&O...

Featured Video

Most Recent Videos

Video Library ››

Top Story

15 tips for driving safely on ice and snow

More than 800 people die each year in the U.S. in vehicle crashes caused by snow, sleet and freezing rain.

Top Story

PIA's national president was born to insure

Robert W. Hansen Jr., a fourth-generation insurance professional, reflects on what drives him to keep selling after more than 30 years in the business.

More Resources


eNewsletter Sign Up

PropertyCasualty360 Daily eNews

Get P&C insurance news to stay ahead of the competition in one concise format - FREE. Sign Up Now!

Mobile Phone

Advertisement. Closing in 15 seconds.