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Summary: Analyzing loss data for the surety industry. Original post by Jay Farley, Vice President, Claims Manager, Published Sept. 11, 2023

Despite the odds, the surety industry is still experiencing low losses in 2023. However, even though the frequency of construction bonding losses is low, their severity has significantly increased. An analysis of industry loss data has identified trends that contractors should be wary of to avoid potential risks.

Contractors need to be aware of these concerns when evaluating their own operations as well as those of their subcontractors and suppliers. Learn about the "red flags" that increase contractors' claims and losses, and how to address them.

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