Suretypedia - All Articles

Fidelity Bonds: COVID Hits Demand, not Claims

Suretypedia Team | May 29, 2020

Will the fidelity market experience the one-two punch of lower premium volume and increased claims activity in what has traditionally been a low-risk, and growing, category? While concerned about fidelity bond customer demand in the near term..

Health Club Bonds: “Recession-Resistant”, not COVID-Immune

Suretypedia Team | April 28, 2020

In our continued effort to analyze the risks posed to the Surety industry by COVID-19, we examine health club bonds, their risk in more normal economic conditions, and the potential for heightened claims exposure during this crisis

BMC-84 Freight Broker Bonds: Invalid Claims Obscure Results

Eric Weisbrot | April 22, 2020

Freight brokers comprise a notable subset of surety bond business, as licensed brokerages are required to post some form of security in order to comply with licensing requirements. Brokers can opt for a freight broker trust or a freight broker bond to fulfill these federal requirements.

Travel Agent Bonds: Hundreds of little Thomas Cook’s?

Suretypedia Team | April 16, 2020

Seller of Travel bonds weren’t on the radar for many Sureties until the Thomas Cook bankruptcy in 2019. With most trips now grounded and travel agencies facing ruin, Suretypedia puts the spotlight on these once obscure obligations

Sales Tax Bonds: “Tide’s Out, Time to Discover Who’s Swimming Naked”

Suretypedia Team | April 07, 2020

In our third installment, Suretypedia delves into Sales Tax bonds and how the current pandemic may open doors to a heightened claims environment

Utility Deposit Bonds: As Restaurants Go Dark, Claims Will Light Up

Suretypedia Team | March 27, 2020

Continuing our series on how the COVID-19 crisis is affecting certain bond types, Suretypedia examines how Utility Deposit bond form language and grace periods granted by utilities may increase Surety carrier liability.

Contractor Bonds: Executive Guide to the Coming Elevated Claims Environment

Suretypedia Team | March 26, 2020

Surety executives, underwriters and claims handlers are suddenly confronted with a whole new environment to navigate. In the first of a series drilling into how the COVID-19 crisis is affecting certain bond types, Suretypedia examines the emerging risks facing Contractor bonds.

“Stay-at-Home”: List of Essential Services Matters Greatly to the Surety Industry

Suretypedia Team | March 21, 2020

Despite the CA and NY “Stay-at-Home” Orders, Essential Businesses, including construction, can continue work outside the home. We believe the Orders have sown considerable confusion in the public over what type of work is permitted with substantial impact to the surety business...

The Miller Act: Understanding Requirements and Recoverable Costs

Eric Weisbrot | March 17, 2020

Many regulations exist in the construction industry, most designed to protect contractors, businesses, and the vendors and suppliers used to complete projects.

Oregon Motor Vehicle Dealer Surety Bond

Suretypedia Team | February 13, 2020

In order to obtain a vehicle dealer certificate, Oregon Vehicle Code 822.030 requires auto dealers to file a license bond

How Does the New California Privacy Law Impact Surety?

Suretypedia Team | January 22, 2020

The New California Consumer Privacy Act Can Affect Surety Agents and Carriers, Even Those Outside of the Golden State

Suretypedia’s Guide to Obligees

Suretypedia Team | November 19, 2019

The surety bond industry is one of the most opaque, misunderstood niche lines...

Suretypedia’s Guide to Indemnity Agreements

Suretypedia Team | November 19, 2019

Most surety industry terminology isn’t widely used or well understood outside of the circle of industry professionals ...

Suretypedia’s Guide to Bond Claims

Suretypedia Team | November 19, 2019

Many people find the attributes and outcomes of surety bond claims confusing because they are very different...

Suretypedia’s Guide to Bond Forms

Suretypedia Team | November 19, 2019

Surety bonds are among the oldest contracts in the world; however, they are often misunderstood...