Insights for the Insurance Professional
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One old-time financing method could give budget-squeezed governmental agencies needed capital flexibility to immediately pay for infrastructure repairs—but the surety industry, contractors and lenders would have to modify their business models first.
Many small and midsize contractors don't consult their surety-bond underwriters soon enough after running into trouble that could trigger a bond—an event that threatens a contractor's ability to remain in business.
Fiscally fit bond principals with solid management plans–and without losses–are discovering sufficient and inexpensive capacity for surety insurance, say brokers and underwriters.
Now that the recent hurricanes and wildfires have subsided, here are seven things you can do to make sure your business is ready for the next disaster.
American International Group Inc. lifted limits on property claims tied to acts of terrorism to $1 billion as clients ask for more protection in larger cities.