A recent article by “Property Casualty 360″ makes the case that it is crucial for agents and contractor to keep open lines of communication with their surety partners. Surety Placement Services has been stressing this to our customers for year. According to the article, Contractors should consult with their agent and surety company promptly after running into financial difficulty, said surety executive Roland Richter. “Recognizing that each underwriting situation is unique, sureties have a vested interest in helping contractors work through a problem and prevent a bonded default,” he said.
To read the full article, please follow the attached link.