Bonding Success Stories Expanded Surety & Profitability Market Availability Pays Off Creative Surety Solution Delivers Surety Capacity Negotiation

Market Availability Pays Off In the spring of 2008, a general contractor specializing in concrete and vertical construction, came to Business Insurance Associates, Inc. with a specific surety request for an upcoming project. His surety broker, a large financial institute, wasn't willing to support the amount of surety he was seeking. The surety account executive at Business Insurance Associates, Inc. gathered information and conducted an internal review of the operations and financial systems and controls, and identified several potential weaknesses, most notably the accounting systems in place. Working around those weaknesses, Business Insurance Associates, Inc. put together a strategy for building and supporting a surety program, and was able to access a non-traditional surety market to place the program with creative solutions, and ultimately deliver the surety for the contractors bid, which they ultimately won. Since that initial bonded project and several others, the surety program has evolved and today delivers greater surety limits capable of supporting the contractors operational and financial goals and objectives.