Blog
For many new contractors, bonding presents a chance to bid on larger or public contracts. But lack of familiarity with underwriting requirements—financial statements, work-in-progress schedules, character and credit history— can hold them back and prevent them from obtaining surety bonds.
To help ove...
10/13/2025 09:39 PM
EARLY IN HIS surety career, when 2025-2026 NASBP President Robert Coon worked as an underwriter, he sometimes had to spend long hours taking information from contractors’ Work-in-Progress (WIP) reports and keying them into a format that could be used by the surety’s software programs. "We had a...
10/10/2025 02:38 PM
Surety sits at the intersection of banking and insurance, and has long been used to back the performance of a contract.
But the product, which works similarly to a bank guarantee, has to date not been widely adopted in the trade sector.
In this Industry Perspective, Daniel Storr, co-head o...
10/07/2025 03:07 PM
By Iza Iglesias
DigiPlus Interactive Corp., operator of BingoPlus, ArenaPlus, and GameZone, has partnered with Philippine First Insurance Co. Inc. (PhilFirst) to launch the country’s first surety bond program for online gaming players, offering balance protection of up to P1 million per player.
The pr...
10/06/2025 03:07 PM
By Tez Romero
A union welfare fund is taking Berkley Insurance Company to federal court, alleging the insurer failed to cover nearly $100,000 in unpaid union benefits on a New Jersey public project.
The International Union of Painters and Allied Trades District Council No. 21 Welfare Fund, joine...
10/04/2025 04:58 PM