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...]

Goldleaf Surety to Attend PIA Education Day & Trade Show

Goldleaf Surety's New Business Intake Manager Lori Olson will be attending the Minnesota PIA Education Day & Trade Show.  This year's event will be held Thursday, September 7th at the Double Tree Hilton in Bloomington. We would like to invite you to visit us at our booth.  Stop by to discuss how our experienced staff can assist you and your agency with all of your bonding needs from performance bonds to almost every other type of surety and fidelity bond that may be required.  And to … [Read more...]

Oklahoma Pharmacy Benefit Manager’s Bond Requirements Changing

Effective August 31, 2017, the Oklahoma Insurance Department's statutory dollar amount requirement for the Pharmacy Benefit Manager's (PBM) Bond will be changing.  This bond is required by the state for all licensed Pharmacy Benefit Managers.  The new requirement for the PBM Bond will be $1 million per occurrence/$5 million aggregate. A pharmacy benefit manager is a third-party administrator of prescription drug programs.  They generally work with self-insured companies and government … [Read more...]

Goldleaf Surety Can Assist You With Your To Do List

It's hard to believe that we are already over half way through 2017.  Just this last weekend my husband and I were trying to figure out where the year has gone, and how it is we still have so many things on our 2017 To Do List that we have not even started. If one of the things on your To Do List is finding the right surety partner for your agency, let Goldleaf Surety cross that item off for you.  Whether you’re looking for a license and permit bond, commercial bond, bid or performance bond, … [Read more...]

Goldleaf Surety to Attend PIA of Wisconsin Trade Show

Goldleaf Surety's New Business Intake Manager Lori Olson and Regional Sales Manager Kevin L. Kohlbeck will be attending the Professional Insurance Agents of Wisconsin's 68th Annual Convention and Trade Show August 2nd through 4th.   This year's trade show will be held Thursday, August 3rd from 12:30 to 3:00 pm at the Potawatomi Hotel & Casino in Milwaukee. We would like to invite you to visit us at our booth (#3).  Stop by to discuss how our experienced staff can assist you and your … [Read more...]