Blog tagged as Surety Market
OLDWICK, N.J.--(BUSINESS WIRE)--
Federally funded infrastructure projects continue to drive premium growth for U.S. surety bond writers, with underwriting profits in this construction-oriented line of business exceeding $2 billion for a third consecutive year in 2024, according to a new AM Best repor...
01/19/2026 07:54 AM
In separate reports last week, AM Best and Morgan Stanley analyzed P/C insurance industry expense ratios, with one reporting a 2.4-point drop over the past decade and the other projecting another potential 2.0-point decline by 2030.
While both reports highlight the impact of AI and automation in driv...
01/12/2026 12:33 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