Surety Matters

Our blog covering the latest in bonds and insurance
Contract Surety 02.11.2020

Surety Bond Ensures No Added Construction Costs Despite Contractor Default

A Performance Bond has ensured that no additional construction costs will incur despite a delay caused by a defaulting contractor working on a Reynoldsburg, Ohio fire station. A new Truro Township fire station was set…
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Surety Bond Ensures No Added Construction Costs Despite Contractor Default
Contract Surety 02.06.2020

Construction Labor Shortage Risks Performance

According to the Associated Builders and Contractors, there were nearly 7 million open construction jobs in the United States as of July 2018. The biggest reason for the shortage is a lack of skilled construction…
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Construction Labor Shortage Risks Performance
Contract Surety 01.31.2020

Incorrect Project Estimates Cause Construction Cost Overrun

It’s extremely difficult for construction projects to come in under budget. Poor project management may be one reason for the error while unforeseeable circumstances may be another. But one of the most common causes of…
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Incorrect Project Estimates Cause Construction Cost Overrun
Contract Surety 01.31.2020

Massive Surety Industry Growth Expected by 2025

With much global infrastructure needing to be replaced in first world countries such as the United States, the global surety market is expected to grow by 7% per year up to the year 2025. There are going…
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Massive Surety Industry Growth Expected by 2025
Contract Surety 01.28.2020

Benefits of the Partnership Account for Associations

Our Partnership Account has helped streamline the bonding and insurance process for industry associations and their members. The Partnership Account is a business arrangement between Colonial Surety and industry associations that can help generate revenue…
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Benefits of the Partnership Account for Associations
Contract Surety 09.05.2019

Rebar Free Design Allows Contractor to Top Out Building in 10 Months

Using a composite steel frame that is rebar free, The Erection Co., finished topping out its 850 square foot Rainier Square Tower in Seattle, Washington in just ten months. The building is scheduled for completion…
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Rebar Free Design Allows Contractor to Top Out Building in 10 Months
Contract Surety 09.05.2019

Project Design Problems Cause Cost Overrun

Design plans can cause a contractor’s project cost to go over budget all by themselves. Even if proper time and resources are spent on estimating the scope of the project as well as its cost…
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Project Design Problems Cause Cost Overrun
Contract Surety 08.13.2019

Technology Fills Construction Skills Gap

Contractors and construction companies have decried the lack of skilled workers available to them, even as the United States goes through a construction boom. If there are fewer skilled workers than ever before with more…
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Technology Fills Construction Skills Gap
Contract Surety 07.22.2019

60% of Construction Being Done in 10 States

The United States is going through a construction boom, with more investment on the way due to looming necessary infrastructure upgrades. But the construction boom wealth is not being shared equally throughout the whole country….
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60% of Construction Being Done in 10 States