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    COVID-19

    To our valued clients as we enter uncharted territory, we are receiving a lot of email and phone call questions concerning the COVID-19 outbreak.  Hopefully some of this information will help assist everyone. Relative to insurance coverage, COVID-19 is an intriguing situation.  All the preventative steps, while necessary, are disruptive and putting a strain on society – individuals will get sick, at home or at work;  and business will be lost, regardless of public fear, or government intervention to force close.     While medical insurance should take care of the healthcare costs as it was designed to respond to diseases, normal property and casualty [P&C] insurance, such as Workers Compensation, Property,…

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    Surety Bonds: What You Need to Know

    While insurance is a common need for all business, commercial contractors often have special needs in addition to their insurance coverages. Whether you are a “typical” commercial general contractor or a specialty contractor, many of the entities (especially public) you work for may require a performance and payment bond. These bonds guarantee that the contractor will perform the work according to the contract to completion and pay all subcontractor and suppliers. These are typically referred to as Contract Surety Bonds. The most important thing to note is that bonds are not insurance products. Unlike insurance whose premiums are based on expected losses, bonds are underwritten similar to a bank loan…