Goldleaf Surety to Host Construction Law Seminar

Goldleaf Surety Services will be hosting a Construction Law Seminar on Wednesday, February 28th.  This seminar will be held at Embassy Suites & Courtyard, 12520 Westport Parkway, La Vista, Nebraska. This year’s key note speaker will be Sean Minahan.  Sean is a partner in the law firm of Lamson Dugan and Murray, LLP in Omaha and a member of its Litigation Department.  Mr. Minahan has represented a broad range of clients in corporate litigation.  He has a specific interest in representing … [Read more...]

Year End Considerations and Solid Surety Programs

While a company’s year-end considerations are not a new blog topic for Goldleaf Surety (Surety Bonds & End of the Year Considerations-Part 1; Surety Bonds & End of the Year Considerations-Part 2; Surety-Oriented Considerations at Year-End; and Surety Program and Year End Considerations), it is a topic worth visiting this time of year.  How a company deals with its year-end planning can have a significant impact on its bonding program moving forward. For this reason, we feel it is … [Read more...]

Goldleaf Surety Has Markets for Decommissioning Bonds

In our November 30th blog, we looked at Software and Technology bonds and Goldleaf Surety's success with placing bonds for this class of business.  Another class of bond which falls under the large commercial bond umbrella is a decommissioning bond.  These bonds can be extremely difficult to obtain and many sureties simply do not entertain this type of risk.  However, Goldleaf Surety does have markets for a company with the financial strength to qualify. A recent success story: … [Read more...]

Software and Technology Bond Success Story

Large Commercial Surety Bonds generally include bonds needed in conjunction with service contracts such as transportation companies, janitorial companies, garbage collection companies, “non-sticks and bricks” construction contracts, as well as manufacturing and supply contracts and software and technology contracts. The underwriting considerations for this class of business are different from those for the contract bonds and have become more sophisticated and specialized over time. One … [Read more...]

Appraisal Management Company Bond

As of November 11, 2017, New Jersey began requiring licensed real estate appraisal management companies to obtain a surety bond. The change is a result of Assembly Bill 1973 which was passed in May.  With this new law, New Jersey becomes one of over 20 states that require the Appraisal Management Company (AMC) bond.  These states include Alabama, Arizona, Arkansas, Colorado, Georgia, Illinois, Iowa, Louisiana, Mississippi, Missouri, Nebraska, New Mexico, North Carolina, Oregon, Pennsylvania, … [Read more...]

New York City Car Wash Bond

The New York City  Department of Consumer Affairs is now accepting applications for car wash licenses  and will begin enforcement of the Car Wash Accountability Act on December 4th.   Among the requirements for licensing under the new Act is the requirement for a $150,000 Car Wash Bond. License bonds such as this new Car Wash Bond provide indemnification for loss or damage resulting from a license holder’s compliance with the law or regulation.  In the case of this particular bond, if the car … [Read more...]

Comparing Subcontractor Bonds to Subcontractor Default Insurance

Goldleaf Surety is often asked about the basic differences between subcontractor bonds and subcontractor default insurance (SDI).  As part of a contractor's risk management, it is important for your company to know and understand these basic differences.  To that end, we want to share with you the table below from Leaderboard Magazine. Issue Performance and Payment Bonds  Subcontractor Default Insurance Pre-qualification Process Conducted by the surety, a knowledgeable third party … [Read more...]

Goldleaf Surety to Attend IIAN Trade Fair

Goldleaf Surety's New Business Intake Manager Lori Olson will be attending  the Independent Insurance Agents of Nebraska's 110th Annual Convention and Trade Fair.  This year's convention is being held October 12-13 at the Embassy Suites in Lincoln. We would like to invite you to visit our booth at the Trade Show on Thursday, October 12th from 4:30 pm to 7:30 pm.  Stop by to say hello and to  discuss how our experienced staff can assist you and your agency with all of your bonding needs from … [Read more...]

Oklahoma Pharmacy Benefits Managers Bond Updated Requirements

As discussed in Goldleaf Surety's blog post dated August 9, 2017, effective August 31, 2017, the Oklahoma Insurance Department’s statutory dollar amount requirement for the Pharmacy Benefit Manager’s (PBM) Bond had been amended to $1,000,000 per occurrence and $5,000,000 annual aggregate. Due to a substantial number of questions and comments from both PBM's and surety companies regarding the bond requirement set forth in Oklahoma Administrative Code Sec. O.A.C. 365:25-29-6, the Commissioner … [Read more...]

Goldleaf Surety to Attend IIAB of Iowa Trade Show

Goldleaf Surety's New Business Intake Manager Lori Olson a will be attending  the  Independent Insurance Agents of Iowa's 111th Annual Convention, Trade Show and Expo September 13 and 14.  This year's convention is being held at the Prairie Meadows Convention Center in Altoona, Iowa.. We would like to invite you to visit our booth (Booth #66) at the trade show on Wednesday, September 13th from 3:30 pm to 7:00 pm.  Stop by to discuss how our experienced staff can assist you and your agency … [Read more...]