Risk Management
Ask The Surety Pro – Joe Catania Shares the Costly Risk of Winning Bids Without Bonds
Winning a bid at a lower price but failing to secure the required bonds can result in lost opportunities, damaged credibility, and sunk costs. In today’s Ask The Surety Pro (0:58), Co-Founder & CEO Joe Catania highlights the risks contractors face when they can’t provide performance and payment bonds after winning a bid.
Read MoreAsk The Surety Pro – Tony DeMartino Explains How Surety Brokers Assess Project-Specific Risks
A professional surety broker’s expertise goes beyond securing bonds—they serve as trusted advisors, analyzing project risks from financial, contractual, and operational perspectives. In today’s episode of Ask The Surety Pro (1:31), Tony DeMartino, Surety Bond Producer, explains how proactive surety brokers help contractors assess and mitigate project-specific risks to ensure smarter, more strategic decision-making.
Read MoreWhat Key Parts of a Business Continuity Plan Are Important to a Bonding Company?
Nobody plans to fail. This is especially true for our contractor partners. Unfortunately, though, some contractors fail to plan when it comes to the continuity of their business. Let’s make sure that doesn’t happen to you. There are two important aspects of business continuity planning you need to be aware of. So don’t miss this…
Read MoreHow do bonding companies evaluate job risk?
Risk is a part of life, and that’s especially true in the contracting industry. So how do surety bond companies evaluate project risk? Having aided our clients with surety services for more than thirty years, we have gained valuable insights from our contractor clients. One of the most significant insights we’ve gained pertains to how…
Read MoreWhat Suggestions Do You Have for Navigating the Current Supply Chain Bottlenecks?
Supply chain issues are getting complicated and intertwined, especially on projects with multiple primes. In Pennsylvania, for example, there can be up to four primes on a single project. Can one contractor with no supply chain issues be negatively impacted by a different contractor’s supply chain problems? The short answer is yes! But you can…
Read MoreWhat Are the Benefits of Requiring Subcontractors to Bond-Back on My Projects?
Brent Headley, Surety Account Executive at Anderson & Catania Surety Services LLC, explains why general contractors should ask subcontractors to post a performance and payment bond back to them. At What Dollar Amount Should Subcontractors Bond-Back? There are many answers to this question. If a bond-back is required by the surety company, the surety company…
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