According to the U.S. Bureau of Labor Statistics, there are more than 3.6 million clerical and administrative assistants in the U.S. Today, on Administrative Professionals Day, Goldleaf Surety would like to thank our Administrative Professionals who we feel are some of the best of those 3.6 million. Becky Risa, Document Production Specialist Gwen Olson, Administrative Assistant Leanne Duis, Document Production … [Read more...]
The Role of a Fiduciary and Fiduciary Bonds
Merriam Webster on their website defines a fiduciary as "one often in a position of authority who obligates himself or herself to act on behalf of another (as in managing money or property) and assumes a duty to act in good faith and with care, candor, and loyalty in fulfilling the obligation : one (as an agent) having a fiduciary duty to another " Often a fiduciary is appointed by a court order to administer the estate or property of another person who is unable to manage their own … [Read more...]
Shamrocks, Horseshoes and the Luck of the Irish
This St. Patrick's Day we want to share a secret with you, it isn't about shamrocks, horseshoes, and the luck of the Irish. In fact, it isn't about luck at all. When you need assistance placing surety bonds for your client, you don't need shamrocks, horseshoes or the luck of the Irish on your side. You need Goldleaf Surety Services on your side. As a national surety-only agency, we are here to help. Goldleaf Surety does not retail any insurance – we deal only in surety bonds. If your … [Read more...]
Goldleaf Surety And Your New Year’s Resolutions
If one of your New Year’s resolutions is to be more productive with your time at the office, Goldleaf Surety is here to help you make that resolution a reality. Surety bonds can be a time-consuming, costly and embarrassing process for many agencies. Producers and CSRs can face steep learning curves if they want to handle the product. With hundreds of different bonds available, your staff may not know which markets are most likely to write a particular class of bond, which forms to use, or … [Read more...]
Have Yourself a Very Merry Christmas
Goldleaf Surety Services is hoping that you have yourself a very merry Christmas. As 2020 comes to a close, we hope all of you are able to take the time to reflect upon all the blessings we have in our lives. Despite all the challenges of this year, Goldleaf’s management and staff have many things to be thankful for both as a company and as individuals. Again this year we had an opportunity to give back to those in our community who truly need a helping hand during this holiday season. … [Read more...]
Understanding the Underwriter – Lingering Generalities
After obtaining a basic understanding of the company’s operation and analyzing the current financial condition of the company, the underwriter will consider several questions that go more to the character or management capacity of the key personnel. For many small companies, these issues seem quite unrelated to their ability to perform a contract and are somewhat of a nuisance to address with the underwriter. However, many underwrites consider these issues important to establishing a … [Read more...]
Understanding the Underwriter – Financial Statements
A company’s financial statements are the underwriters next consideration. Like loan officers at a bank, a surety company underwriter weighs your financial statements very heavily when determining whether you represent a risk of loss. Again, surety bonds are a credit facility, and the surety company wants to make sure that your company is good on any losses that might be sustained. On the assumption of zero risk, the underwriter is charged by the surety company with making sure that a company … [Read more...]
Understanding the Underwriter – Contractor Questionnaire
The first thing that the surety underwriter considers from the bond application materials is the Contractor Questionnaire. This form provides the underwriter with a first, detailed look at the company. Understanding what the surety underwriter is looking for within the Contractor Questionnaire can be key to a successful application process. Some very basic elements from a review of the Contractor Questionnaire will be interpreted very carefully by the underwriter: It is important to note … [Read more...]
Understanding the Surety Underwriter
When a company makes an application for bonding support, they usually do so with the idea that they operate a strong company and would represent no risk to a surety company. It can be a frustrating and maddening thing for the owner to hear that some person called an underwriter, working for some unknown surety company, in some faraway state thinks differently, and either has rejected the bond application or is requiring a lot of supplemental information to support the bond request. … [Read more...]
Autumn Shows Us How Beautiful it is to Let Things Go
I have to say that my favorite season of the year has always been autumn. While it does herald in shorter days and cooler weather, I find it the most beautiful of all seasons. I love pulling out my fall home decor and seeing all the beautiful reds, oranges, and yellows both inside and outside my home. (I also love it when my young granddaughter comes and rearranges by decor because I just don't have her eye for these things!) I love trips to the apple orchard, bonfires, hot chocolate with … [Read more...]
