Minnesota – Land of 10,000 Lakes

There is a Minnesota tourism commercial that says, “Land of 10,000 Lakes is really Minnesota-nice for 11,842 lakes.”  And this number only includes lakes over 10 acres.  If we were to include lakes and basins under 10 acres, the number would be even greater. There are so many lakes in Minnesota that many of them are not even named.  And many have the same name.  For example, there are 115 Long Lakes in Minnesota. Now, while this information is interesting and may even be useful if you are … [Read more...]

Goldleaf Surety Celebrates Milestone

On Friday, April 13th, Goldleaf Surety management, staff and families gathered to celebrate our 20th Anniversary.  And just like hard to place bonds don’t deter us, neither did the spring blizzard.  Despite the Minnesota weather, we gathered for an evening of fun, food and fellowship to celebrate this milestone accomplishment. Looking back over the past 20 years and visiting with each other, it becomes clear that relationships are really the key to Goldleaf Surety's success.  Relationships … [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...]

Goldleaf Surety Has Markets for DMEPOS Bonds

Are your clients not able to qualify for a DMEPOS bond due to lower credit scores?  We Can Help! If your insured has an unsatisfactory credit history report or unfavorable financials, Goldleaf underwriters’ experience and our access to many surety markets allows us to place bonds when others may not be able to. What is a DMEPOS Bond? Medicare Bonds, often referred to as DMEPOS Bonds, are mandatory for manufacturers and suppliers of durable medical equipment, prosthetics, orthotics and … [Read more...]

Goldleaf Surety Assists Glass and Glazing Contractor

Goldleaf Surety Services recently assisted a large general contractor's glass and glazing division obtain bonding on a $6,500,000 project for  the operable window system, glass, and glazing to a luxury suite renovation at an NFL stadium.   In addition to the challenges relating to the type of work being done and the size of the contract, this bond included review of six related entities to include on the indemnity agreement; a multiple oblige rider to included 5 obliges;  and obtaining an All's … [Read more...]

Goldleaf Assists Fiber Optic Companies with Bonding

Over the last several months, Goldleaf Surety has assisted several fiber optic company's obtain the bonding support they needed.  Working with our surety partners, we were able to obtain bonds in situations where others had said no.  Each situation below had factors which Goldleaf Surety was able to understand and present to a surety so that they were comfortable with the risk. Assisted a private equity owned company which designs, installs and maintains private fiber networks for schools, … [Read more...]

Goldleaf Surety Services Attends 2015 IIAW Convention

Goldleaf Surety Services' New Business Intake Manager Lori Olson attended the 2015 IIAW Convention which was held May 13 and 14 at the Kalahari Resorts in Wisconsin Dells. The event was attended by over 600 independent insurance agents, producers, CSRs, and insurance company representatives, and included two days of various continuing education classes as well as an awards luncheon and evening reception. Goldleaf Surety Services was pleased to be one of over 80 exhibitors at the trade show … [Read more...]

Surety Bonds and Year End Considerations

One of the items often discussed by Goldleaf Surety underwriters is the “quality” of a company’s year-end financial statements and how these can affect the rates and terms upon which the company can obtain surety support. The chart to the below helps identify the various levels of financial statements that can be submitted with a bond application and at what points a company should consider engaging a certified public account (CPA) to prepare its annual financial statements. When working … [Read more...]

Interview With a Contract Bond Underwriter – Meet Amy Nordaune

This week I would like you to meet Goldleaf Account Specialist, Amy Nordaune.  Amy grew up on a farm near New Ulm, Minnesota.  She is married with two children, a son and a daughter.  She enjoys spending time with her family and friends, golfing, watching sporting events, running, reading, and traveling.   Amy is the daredevil here at Goldleaf – zip lining over a 700 foot gorge in Mexico on one of her trips!  Amy is the chairperson for the Education Committee at her church as well as a Sunday … [Read more...]