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Construction Bond

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Description: The term "construction bond" is a general term used to describe contract bonds. A contract bond is not a specific class of business, it is a category of bond types including: performance bonds, subdivision bonds, and more.

Current Market: The contract bond market is the same as the rest of the surety industry, making use of conservative underwriting methods. Around 1999-2000, the industry as a whole was very liberal, as the bonding companies' appetites grew too large. The aggressive underwriting resulted in historical losses, which is what brought the industry to more traditional underwriting techniques today.

Special Markets: Our agency has the capacity to place large contractors with some of the most well known carriers in the country. We can also write the hard to place bonds with our unique niche markets that most agents do not have access to.