Construction is a cyclic industry and, to survive, company leadership needs to be prepared to manage their company through those ups and downs. One way to be prepared is to have a strong relationship with your surety provider. According to Ed Titus, SVP, Surety for Philadelphia Insurance, “A company may be doing everything right, but getting connected to the right surety carrier really depends on having an experienced surety agent who understands what carriers are looking for and understands the construction company’s business and objectives.” Dwyer, Katie. “How Best-in-Class Contractors Win the Trust of Surety Carriers.” Risk & Insurance 2 April 2019. This article discusses several characteristics sureties see in successful construction firms as well as how these characteristics will help them when a downturn in the market occurs.
A cornerstone of Goldleaf Surety’s mission has always been to be the experienced surety agent our clients need on their side. Having a surety partner who understands what is critical in the underwriting process and how to supply clients with the feedback needed to improve bonding ability and limits has always been a foremost goal for Goldleaf Surety and our staff. In times of change, Goldleaf’s experienced team can help our clients develop and maintain a strong surety relationship.
If you have questions regarding your surety program or how to develop a solid surety program, our dedicated staff is always available to answer your questions.