* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Thursday, October 2, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Major airline to offer new in-flight entertainment options for passengers – PennLive.com

    Major airline to offer new in-flight entertainment options for passengers – PennLive.com

    Penn State-Themed Restaurant and Entertainment Spot Happy Valley Live Set to Open in State College – StateCollege.com

    Penn State-Themed Restaurant and Entertainment Spot Happy Valley Live Set to Open in State College – StateCollege.com

    The Police Made Chart History With This 1979 Hit Nearly 50 Years Ago – Yahoo

    How The Police Changed Music Forever with Their Iconic 1979 Hit Nearly 50 Years Ago

    Good Deed Entertainment Acquires Worldwide Rights To Liza Mandelup’s Documentary ‘Caterpillar’ – Deadline

    Good Deed Entertainment Lands Global Rights to Liza Mandelup’s Captivating Documentary ‘Caterpillar

    Danielle Fishel Explains Why Being on “DWTS” Makes Her Feel ‘Like It’s 1994 Again’ Filming “Boy Meets World” (Exclusive) – Yahoo

    Danielle Fishel Explains Why Being on “DWTS” Makes Her Feel ‘Like It’s 1994 Again’ Filming “Boy Meets World” (Exclusive) – Yahoo

    Jussie Smollett Claims He Was ‘Disrespected’ on the ‘Special Forces’ Season Premiere – Yahoo

    Jussie Smollett Opens Up About Feeling ‘Disrespected’ During the ‘Special Forces’ Season Premiere

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    A Tech Expo Shows What China Can Make, but Not Who’ll Buy It All – The New York Times

    Inside China’s Tech Expo: Impressive Innovations Meet Uncertain Buyers

    Steampunk Metal Oval Technology Sense Sunglasses Personality Handmade Chain Multicolor Sunglasses UV400 – The San Joaquin Valley Sun

    Steampunk Metal Oval Sunglasses with Handmade Multicolor Chain – Bold UV400 Protection and Unique Style

    STELLA Automotive AI Appoints Fred Seidelman as Chief Technology Officer – Yahoo Finance

    STELLA Automotive AI Appoints Fred Seidelman as New Chief Technology Officer

    Saving Energy and Money with Smart Technology – Terms of Service with Clare Duffy – Podcast on CNN Podcasts – CNN

    Saving Energy and Money with Smart Technology – Terms of Service with Clare Duffy – Podcast on CNN Podcasts – CNN

    Four Strategic Signals Technology Leaders Are Tuning In To – SPONSOR CONTENT FROM ARM – Harvard Business Review

    Four Essential Strategic Signals Every Technology Leader Should Watch

    Virginia Tech hosts annual New Music + Technology Festival this week – Cardinal News

    Virginia Tech Kicks Off Exciting Annual New Music and Technology Festival This Week

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Major airline to offer new in-flight entertainment options for passengers – PennLive.com

    Major airline to offer new in-flight entertainment options for passengers – PennLive.com

    Penn State-Themed Restaurant and Entertainment Spot Happy Valley Live Set to Open in State College – StateCollege.com

    Penn State-Themed Restaurant and Entertainment Spot Happy Valley Live Set to Open in State College – StateCollege.com

    The Police Made Chart History With This 1979 Hit Nearly 50 Years Ago – Yahoo

    How The Police Changed Music Forever with Their Iconic 1979 Hit Nearly 50 Years Ago

    Good Deed Entertainment Acquires Worldwide Rights To Liza Mandelup’s Documentary ‘Caterpillar’ – Deadline

    Good Deed Entertainment Lands Global Rights to Liza Mandelup’s Captivating Documentary ‘Caterpillar

    Danielle Fishel Explains Why Being on “DWTS” Makes Her Feel ‘Like It’s 1994 Again’ Filming “Boy Meets World” (Exclusive) – Yahoo

    Danielle Fishel Explains Why Being on “DWTS” Makes Her Feel ‘Like It’s 1994 Again’ Filming “Boy Meets World” (Exclusive) – Yahoo

    Jussie Smollett Claims He Was ‘Disrespected’ on the ‘Special Forces’ Season Premiere – Yahoo

    Jussie Smollett Opens Up About Feeling ‘Disrespected’ During the ‘Special Forces’ Season Premiere

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    A Tech Expo Shows What China Can Make, but Not Who’ll Buy It All – The New York Times

    Inside China’s Tech Expo: Impressive Innovations Meet Uncertain Buyers

    Steampunk Metal Oval Technology Sense Sunglasses Personality Handmade Chain Multicolor Sunglasses UV400 – The San Joaquin Valley Sun

    Steampunk Metal Oval Sunglasses with Handmade Multicolor Chain – Bold UV400 Protection and Unique Style

    STELLA Automotive AI Appoints Fred Seidelman as Chief Technology Officer – Yahoo Finance

    STELLA Automotive AI Appoints Fred Seidelman as New Chief Technology Officer

    Saving Energy and Money with Smart Technology – Terms of Service with Clare Duffy – Podcast on CNN Podcasts – CNN

    Saving Energy and Money with Smart Technology – Terms of Service with Clare Duffy – Podcast on CNN Podcasts – CNN

    Four Strategic Signals Technology Leaders Are Tuning In To – SPONSOR CONTENT FROM ARM – Harvard Business Review

    Four Essential Strategic Signals Every Technology Leader Should Watch

    Virginia Tech hosts annual New Music + Technology Festival this week – Cardinal News

    Virginia Tech Kicks Off Exciting Annual New Music and Technology Festival This Week

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home General

Surety in Uncertainty — A Guide to Market Trends, Capacity and Relationships

July 15, 2024
in General
Surety in Uncertainty — A Guide to Market Trends, Capacity and Relationships
Share on FacebookShare on Twitter

December 14, 2023 by Mike Grillo

In an ever-evolving construction industry landscape, having insights from those on the front lines is invaluable. The Construction Risk Community series by Procore Risk Advisors seeks to bridge the gap between curiosity and knowledge, providing a platform where industry professionals can get direct insights from leading experts.

Each edition of the series dives deep into pressing topics, trends, and challenges faced by construction companies. By posing pertinent questions to seasoned professionals with vast industry experience in insurance and risk management to surety bonding, we aim to shed light on areas that often remain shrouded in uncertainty.

From diving into the complexities of insurance and surety markets to understanding the nuances of risk management, data or technology, our experts break down subjects into digestible insights. Whether you’re a construction company executive, developer, a project manager or someone keen on industry insights, the Construction Risk Community series is your go-to resource for expert opinions and advice.

For this installment, Mike Grillo, Procore Risk Advisor’s surety brokerage leader, discusses everything from the anticipated conditions in the surety marketplace to ways contractors can improve their prospects for the surety capacity needed to support their business plans.

Q: How would you describe the current state of the surety market for construction companies? Are there any notable trends or changes compared to the past?

A: There remains ample capacity in the surety industry. Many contractors across the country however are beginning to test the limits of their backlog and surety programs. Fortunately, overall industry profitability for both contractors and for sureties has been good. New surety companies continue to enter the marketplace. The U.S. surety industry remains “top heavy” with the five largest writers holding a 40-45% market share. Loss ratios (the % of incurred losses / premiums written) have remained in the mid-high teens in recent years, which is quite good compared to the last 40+ years.

Underwriters are seeing signs of financial stress in the subcontractor community, a condition that — in the past — has been a precursor to broader surety loss activity. For some sureties, this has resulted in tighter underwriting scrutiny, particularly in the subcontractor space.

Q: What are the challenges construction companies face in gaining surety support for new opportunities or when confronting trouble on a project?

A: It’s a cliche to say the surety business is a “relationship business” because it is. Underwriting decisions are based on data and a number of objective data points, but the tough and close calls are based on the confidence an underwriter, the contractor and the surety advisor all have in one another. That trust is paramount and can only be developed through transparent communication (of both good and bad news), reasonable and credible forecasting and delivering on commitments made. 

Q: What objective factors should construction companies prioritize when communicating with their surety? How interested are underwriters in the technology your firm employs?

A: Remind them of the basics that make your business a high quality credit risk. Things such as your discipline on selection and management of subcontractor performance risk, your safety culture, the “extra set of eyes” that reviews each bid package, etc. Focus not just on what technology you’re using, but also the positive impact it is having on your operations. Data points that reflect improved schedule and margin maintenance on projects, safety experience and real-time management oversight will grow the confidence of your surety in supporting an expanded backlog of work.

Q: Given market uncertainties, how can construction companies ensure their surety provider remains committed to the relationship?

A: Absent a crystal ball, this is a tough one, but the communication mentioned above should work both ways. Contractors should inquire about their surety’s operating results, its current forecast for growing or contracting its appetite and any potential personnel changes that could affect their support. When it comes to the surety relationship, there is no such thing as too much communication.

Q: What should I expect from my surety broker?

A: A surety broker has two jobs. He or she should be a proactive business advisor with a thorough knowledge of your business plan and the surety marketplace, who ensures adequate and stable surety capacity is readily available to help your firm achieve its goals…and saves you time,  energy and money while doing it.

Stay ahead of the risk management and insurance curve with insights that matter.

If you enjoyed this article, check out the other installments from the Construction Risk Community Series: Construction Risk Community: Builder’s Risk — A Guide to Market Trends, Challenges and Strategies

Mike Grillo

With over 13 years of construction surety credit underwriting and brokerage experience, Mike Grillo is a founding partner of Procore Risk Advisors. As head of surety advisory, he is responsible for the strategic direction of Procore Risk Advisors’ surety advisory practice.
Mike’s combination of technical expertise, construction industry stakeholder relationships, and forward-thinking mindset has made him a leader in the area of construction surety. He is well-versed in credit analysis, credit negotiation, and contract review, as well as complex construction arrangements including P3s, international placements, and private equity investments. At Procore, Mike and his team are modernizing construction surety brokerage by combining data, technology, and expert surety advisory.

Reader Interactions

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Procore.com – https://www.procore.com/jobsite/surety-in-uncertainty-a-guide-to-market-trends-capacity-and-relationships

Previous Post

Navigating the Hard Market: Crafting an Insurance Submission that Wins

Next Post

Torsion appoints new Chief Operating Officer

A Tech Expo Shows What China Can Make, but Not Who’ll Buy It All – The New York Times

Inside China’s Tech Expo: Impressive Innovations Meet Uncertain Buyers

October 2, 2025
E-Sports Week in Review – gobrits.com

This Week’s Most Exciting Moments in E-Sports

October 2, 2025
FIFA World Cup 2026 tickets go on sale today. Here’s how you can get them – LiveNOW from FOX

Score Your Spot: How to Get FIFA World Cup 2026 Tickets Now!

October 2, 2025
Factories struggle in September as soft demand in China and US take toll – Reuters

Factories struggle in September as soft demand in China and US take toll – Reuters

October 2, 2025
Major airline to offer new in-flight entertainment options for passengers – PennLive.com

Major airline to offer new in-flight entertainment options for passengers – PennLive.com

October 2, 2025
FACT: Democrats Shut Down Government Over Free Healthcare for Illegals – The White House (.gov)

Democrats Push Government Shutdown Over Free Healthcare for Undocumented Immigrants

October 2, 2025
Vance discusses possibility of federal firings during government shutdown – NBC News

Vance discusses possibility of federal firings during government shutdown – NBC News

October 2, 2025

The billion-year reign of fungi that predated plants and made Earth livable – ScienceDaily

October 1, 2025
We Asked an Entomologist to Fact-Check the Science of ‘Alien: Earth’ – Esquire

We Asked an Entomologist to Fact-Check the Science of ‘Alien: Earth’ – Esquire

October 1, 2025
Building Better Leaders Through the Science of Happiness – Pace University

Unlocking Leadership Potential: How the Science of Happiness Transforms Leaders

October 1, 2025

Categories

Archives

October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (846)
  • Economy (867)
  • Entertainment (21,741)
  • General (17,360)
  • Health (9,910)
  • Lifestyle (880)
  • News (22,149)
  • People (869)
  • Politics (878)
  • Science (16,077)
  • Sports (21,368)
  • Technology (15,851)
  • World (850)

Recent News

A Tech Expo Shows What China Can Make, but Not Who’ll Buy It All – The New York Times

Inside China’s Tech Expo: Impressive Innovations Meet Uncertain Buyers

October 2, 2025
E-Sports Week in Review – gobrits.com

This Week’s Most Exciting Moments in E-Sports

October 2, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version