Surety

January 31, 2023

Surety Bonds Offer Protections and Economic Benefits to Both Public and Private Sector Construction

The perfect storm of inflation, supply-chain disruptions and ongoing labor shortages is adding additional risk factors to construction projects in 2023. Despite year-over-year growth, the construction industry is still facing a 400,000-plus worker deficit.[1] At the same time, inflation is contributing to the rising cost of construction materials, and supply-chain bottlenecks continue to affect the timely...

January 11, 2023

5 Trends in Digital Security Transformation to Watch For in 2023

A June 2020 study by McKinsey & Company found that the pandemic has accelerated the digital economy by 7 years. The digital adoption of applications for corporate work, in conjunction with tech solutions for physical security, is not just a temporary fix. These solutions are here to stay. As new technologies and digital solutions transform security operations,...

December 15, 2022

Can Surety Bonds Revolutionize Infrastructure?

The Story India wants to ramp up its infrastructure ambition. The government wants to spend over ₹15 lakh crores in the next year alone to build roads, bridges, and a lot of other stuff. But they can’t do everything on their own. They have to work with other private sector entities to bring these massive...

December 14, 2022

It’s a Wrap: Key Issues Insurers Faced in 2022

Insurers faced some tough challenges in 2022, including a few that threatened their very existence. Astronomical jury verdicts, AI deep fakes, seemingly unending numbers of claims seeking compensation for coronavirus business shutdowns — more than a few industry lawyers spent sleepless nights beating back litigation that targeted the very core of the industry’s stability. Here’s...

June 21, 2022

The Importance of Surety Bonds for the Concrete Contractor

Placing concrete requires specialized skills and equipment. The licensing requirements for concrete contractors vary from state to state. In some states, concrete contractors need a specific license for working with concrete. In others, licensing for concrete contractors is included in the general contractor’s license. To obtain a contractor’s or concrete license, you must meet multiple...

April 14, 2022

Importance of Surety Bonds in Construction

Important Role of Surety Bonds Within the Construction Industry Construction companies face significant risks, especially when they perform work on projects spanning several years. Issues like economic downturns, inflationary pressures, material shortages, equipment breakdowns, and others can threaten the ability of contractors to perform under their contracts. When these types of problems are insurmountable, construction...

August 16, 2021

OSHA Urges Employers to Require Vaccinated Workers to Wear Masks

The U.S. agency that regulates workplace safety issued guidance on Friday urging employers to require many fully vaccinated workers to wear masks to protect unvaccinated colleagues and customers, amid a surge in COVID-19 cases. The Occupational Safety and Health Administration (OSHA) recommended that workers wear masks “in areas of substantial or high community transmission,” such...

August 11, 2021

LIHTC Recapture Bonds: Top Questions Answered

We recently interviewed CMR’s Principal/President and Surety Practice Group Leader, Travis Pearson on the top questions that we receive regarding the LIHTC Recapture Bond.  While the IRS no longer requires a disposition bond (IRS form 8693) to avoid tax credit recapture in the event of ownership disposition in a Low Income Housing Tax Credit Section...

October 12, 2020

Tips for National Cybersecurity Awareness Month

  As school, socializing, and many aspects of life have moved online this year, it’s more important than ever that you protect your digital devices and steer clear of cybercriminals. So during National Cyber Security Awareness Month (NCSAM), observed each October, the FBI and partner agencies remind you to do your part and #BeCyberSmart all year long. Now...

September 9, 2020

National Preparedness Month: Workplace Safety

  No matter where you live, you’re sure to encounter and have to deal with emergencies, whether they be tornadoes, fires, chemical or toxic spills, or any number of other natural and man-made disasters. In these situations when conditions can so quickly become life-threatening, workplace preparedness is key and could mean the difference between life...

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