Article courtesy of www.riskandinsurance.com
“To win bids on big projects, construction companies first need to win the trust and support of a surety carrier. A surety bond not only protects project owners and investors from financial loss, but provides reassurance that the work will be completed and meets the high standards for quality and timeliness. Carriers aren’t going to provide a financial backstop for entities they believe will fail, after all. Potential changes on the horizon will make a strong relationship with a surety carrier even more critical for construction firms.” In this article, they interview Ed Titus, SVP of surety with Philadelphia Insurance Company. Mr. Titus shares his thoughts on what lies ahead for the construction industry and what that means from a Surety perspective. Per Mr. Titus “The character and strength of the leadership is critical from a standpoint of a surety relationship, and we look at that very closely.”
Read the full article here: https://riskandinsurance.com/how-best-in-class-contractors-win-the-trust-of-surety-carriers/
