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Michael Weisbrot Profile and Articles
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1). Commercial Surety Bonds: Getting The Best Rate (Part 1 of 2)
There is a great range in rates for commercial surety bonds these days. Principals can see premiums range from 1-15% of the amount of the bond. Even a small bond at 15% can be extremely costly. In part 1 of 2 of this article, we will review what bonding companies look at when deciding a rate. Part 2 of this article will discuss what you can do to b...
2). Re-evaluating Surety Bond Underwriting
Traditional surety bond underwriting does not allow for any losses. In other words, applicants are only suppose to be approved for a bond if the underwriter believes there will be no claims. This differs from insurance underwriting, as a loss is expected and is built into the premium. Higher risk applicants are usually declined or asked to post 100...
3). Surety Bond Bulk Discounts
Every now and then I get a call from a new client asking how much of a discount they will receive for obtaining multiple bonds. I immediately know the conversation will take a bit longer than usual, as I will have to explain what surety bonds are in order for them to understand why they will not obtain a discount for placing multiple bonds.
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