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SFAA ironing out freight forwarder and property broker bond issues
The Surety and Fidelity Association of America (SFAA) is continuing to work with the Federal Motor Carrier Safety Administration (FMCSA) to address the revised bond requirements for property brokers and freight forwarders under the new highway reauthorization law.
Research shows evolving attitudes to cyber threats
A new survey has indicated that corporate risk managers are revising their approaches to protecting company data and proprietary data in order to cope with the evolving threats posed by cyber criminals.
$24m bond covering delayed Metro Rail car rebuilding
A $24 million performance bond is in place to cover the program to rebuild 27 vehicles belonging to Metro Rail, which operates trains throughout the state of New York.
Stormy weather prompting shift in ERM and insurance strategies
Businesses across the country are having to restructure their insurance and risk management provisions, in light of rising insurance premiums due to the effects of devastating storms and other natural phenomena.
MI power plant redevelopment bids to require performance bonds
The seven shortlisted bidders to buy a shuttered Michigan power plant will be asked to submit performance bonds with their official bids, as well as insurance information, as means of proving the validity of the bids.
Florida tragedy highlights sinkhole risk to homes and businesses
The recent tragedy in Florida that saw a man killed when a sinkhole unexpectedly opened up under his house, has highlighted to businesses in the state how important it is for them to have risk management procedures in place to cope with such acts of God.
Taiwanese project highlights growing international importance of performance bonds
The growing importance of performance bonds in the international construction industry has been highlighted by new problems surrounding a major infrastructure project in the Taiwanese capital, Taiwan.
Swift work of surety sees NC bridge project back on schedule
The rapid intervention of a bankrupt construction company’s surety has meant that a $12 million bridge project that it was working on is back on track.
Hail now a major business risk issue in Texas
Companies in Texas are increasingly having to take hail storm damage into account when considering their risk management and insurance strategies, with damaging storms becoming increasingly common in the state.
Cibolo building code surety bond addition welcomed
House builders in the Texas city of Cibolo will now have to post a $25,000 surety bond before any building can begin in order cover any repairs for code violations.
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