According to a recent article from Risk & Insurance, to win bids on big projects, construction companies first need to win the trust and support of a surety carrier.
A surety bond not only protects project owners and investors from financial loss, but provides reassurance that the work will be completed and meets the high standards for quality and timeliness. Carriers aren’t going to provide a financial backstop for entities they believe will fail, after all.
Potential changes on the horizon will make a strong relationship with a surety carrier even more critical for construction firms.
To read the full article from Risk & Insurance, click here.
Core Assurance has partnerships with the largest, most respected sureties in business. For more information on surety bonds and how to use them as a dynamic financial tool, please contact us.