The surety industry is one of the most complex markets in insurance—which makes it a great avenue for independent agents to prove their value. But in a persistent soft market, adding value beyond price is easier said than done.
Due to the amount of detail and sensitive information involved in the surety bond process, it’s important to choose a reliable wholesaler to support you and your client.
The ongoing labor shortage in the construction market continues to put pressure on project scheduling and costs for contractors. But for contractors who are struggling to manage scarce resources, the surety market offers relief.
Independent agent Richard Miller predicts that the surety bonds market will remain strong in the long term. “The future of surety is endless,” he says. “As long as there are jobs to be done, financial guarantees are required, and bonds are uniquely suited
Independent agent Sally Fabre predicts that there will be more uninsured drivers on the road in the future. “Clients are already being overwhelmed by the rising price of rent, healthcare and food,” she says. “Car insurance is a huge moral and financial di
Independent agent Donny Chartier does not write any hotel/motel policies without employment practices liability insurance for two reasons: sexual harassment and age discrimination. “Right now, it’s the most important coverage a hotel owner can have,” he s
Independent agent Erin Schaaf writes homeowners insurance in coastal areas. “One of the biggest challenges we face is the introduction of wind/hail, named storm and hurricane deductibles,” she says. “They’re difficult for customers to understand, especial
Errors & omissions claims happen, and many of the worst ones—those in excess of $1 million—come from the same lines of business and involve similar types of errors.
Independent agent Priya Arora finds that many of her clients think they don’t need the added protection that a personal umbrella provides. “They don’t like to think about lawsuits, but they need to be educated about the risk,” she says.
In the liquor liability market, independent agent William Schaner’s biggest challenge is providing clients “with a level of coverage that will protect them without making them insurance poor,” he says.