Surety bond

Swiss Re Corporate Solutions Licenses The Bond-Pro® Enterprise Next Gen® Surety Platform To Deliver A Better Customer Experience

Retrieved on: 
Monday, July 20, 2020
Economy, Sureties, Finance, Money, Bond, Insurance, Surety bond

TAMPA, Fla., July 20, 2020 /PRNewswire-PRWeb/ --Swiss Re Corporate Solutions, the commercial insurance arm of the Swiss Re Group, has selected Bond-Pro, a provider of Surety and Specialty Insurance software products, to automate their North America Surety operations and deliver a better customer experience.

Key Points: 
  • TAMPA, Fla., July 20, 2020 /PRNewswire-PRWeb/ --Swiss Re Corporate Solutions, the commercial insurance arm of the Swiss Re Group, has selected Bond-Pro, a provider of Surety and Specialty Insurance software products, to automate their North America Surety operations and deliver a better customer experience.
  • Bond-Pro's Enterprise Next Gen surety platform will allow Swiss Re Corporate Solutions to automate and manage the entire life cycle of its US and Canada Surety offering, which includes Contract and Commercial lines of business.
  • "This collaboration kicks off our strategic initiative to create a single integrated technology solution across our entire Surety offering to deliver a superior customer experience."
  • "The Next Gen Surety platform will help our business respond to agents, brokers and clients faster," Steve continues.

Avenue5 Residential Selects LeaseLock to Eliminate Security Deposits

Retrieved on: 
Tuesday, June 30, 2020
Professional services, Technology, Residential Building & Real Estate, Insurance, Finance, Construction & Property, Internet, Economy, Money, Finance, Renting, Sureties, Real property law, Legal documents, Surety bond, Security deposit, Lease, Insurance, LeaseLock, Avenue5 Residential

LeaseLock , the first and only nationwide A-rated lease insurance provider that totally eliminates security deposits, surety bonds, and guarantors in rental housing, today announced Avenue5 Residential has selected LeaseLock as its exclusive national vendor for security deposit replacement.

Key Points: 
  • LeaseLock , the first and only nationwide A-rated lease insurance provider that totally eliminates security deposits, surety bonds, and guarantors in rental housing, today announced Avenue5 Residential has selected LeaseLock as its exclusive national vendor for security deposit replacement.
  • Avenue5 Residential is the fastest-growing enterprise multifamily operator with more than 70,000 apartment homes nationwide.
  • LeaseLock has insured $10 million in leases for Avenue5 Residential across premier ownership clients including ColRich, Trinsic, and Compass Acquisition Partners, resulting in 5x greater protection against rent loss and damage compared to security deposits.
  • Financially, depositsalong with surety bondsdo not make a lot of sense, said Mark Stringer, Executive Vice President at Avenue5 Residential.

LeaseLock Accelerates With $300 Million in Leases Insured

Retrieved on: 
Thursday, June 25, 2020
Professional services, Other Construction & Property, Residential Building & Real Estate, Insurance, Commercial Building & Real Estate, Construction & Property, Economy, Finance, Money, Insurance, Sureties, Surety bond

LeaseLock , the first and only nationwide A-rated lease insurance provider that totally eliminates security deposits, surety bonds and guarantors in rental housing, today announced it has insured leases totaling more than $300 million in value.

Key Points: 
  • LeaseLock , the first and only nationwide A-rated lease insurance provider that totally eliminates security deposits, surety bonds and guarantors in rental housing, today announced it has insured leases totaling more than $300 million in value.
  • LeaseLock Zero Deposit unit count has experienced 100% quarter-over-quarter growth over the past four sequential quartersending Q2 with more than 130,000 apartment units.
  • LeaseLock clients control over 2 million units nationwide with large blocks of units scheduled for rollout in Q3.
  • LeaseLock has insured over $300 million in leases and is backed by insurance rated A (Excellent) by A.M. Best.

Propeller Inc. announces launch of sought-after automated surety bond platform, hires industry veteran to lead operations

Retrieved on: 
Tuesday, June 2, 2020
Sureties, Insurance, Building engineering, Surety bond, Bond

Aaron Steffey, Co-Founder of Propeller Inc., stated, "We identified a pain point in the industry that we wanted to solve efficiently.

Key Points: 
  • Aaron Steffey, Co-Founder of Propeller Inc., stated, "We identified a pain point in the industry that we wanted to solve efficiently.
  • We've automated the entire process, giving agents and brokers an easy way to sell surety bonds.
  • He joins Propeller Bonds after more than a decade with Chubb (formerly ACE), most recently serving as Assistant VP of Commercial Surety.
  • Propeller supports nearly all commercial surety and fidelity products, including license and permit bonds and ERISA bonds.

PORR AG Selects @GlobalTrade™ for Digitization of Bank Guarantees & Surety Bonds

Retrieved on: 
Thursday, May 14, 2020
Software, Technology, Banking, Professional services, Porr, Penang Outer Ring Road, Guarantee, Surety bond, Law, Private law, Economy

GlobalTrade Corporation (GTC) has announced today that PORR AG (PORR), one of the largest construction companies in Austria, has selected its @GlobalTrade Multi-bank Trade Finance Platform for managing its bank guarantees and surety bonds.

Key Points: 
  • GlobalTrade Corporation (GTC) has announced today that PORR AG (PORR), one of the largest construction companies in Austria, has selected its @GlobalTrade Multi-bank Trade Finance Platform for managing its bank guarantees and surety bonds.
  • PORR employees will use the Platform to access transactions on-line from any place in the world and electronically connect PORR Treasury with its financial institutions.
  • The decision to adopt an electronic platform for the management of guarantees has been made before the Covid-19 pandemic, said Alfred Gabler, Head of Group Treasury PORR AG.
  • As a full-service provider, PORR offers every service in building construction, civil engineering and infrastructure construction, covering the entire value chain.

Olive Tree Holdings Deploys LeaseLock Across Entire Portfolio

Retrieved on: 
Thursday, April 30, 2020
Plants, Organisms, Economy, Sureties, Contract law, Legal documents, Building engineering, Surety bond, Bond, Insurance, Olive, Lease

MARINA DEL REY, Calif., April 30, 2020 /PRNewswire/ -- LeaseLock , the only provider of a nationwide A-rated lease insurance program that totally eliminates security deposits, surety bonds and guarantors in rental housing, today announced Olive Tree Holdings (Olive Tree) is the newest company to implement LeaseLock Zero Deposit across its entire portfolio of more than 6,000 apartment homes.

Key Points: 
  • MARINA DEL REY, Calif., April 30, 2020 /PRNewswire/ -- LeaseLock , the only provider of a nationwide A-rated lease insurance program that totally eliminates security deposits, surety bonds and guarantors in rental housing, today announced Olive Tree Holdings (Olive Tree) is the newest company to implement LeaseLock Zero Deposit across its entire portfolio of more than 6,000 apartment homes.
  • It's clear LeaseLock has a stronger, more sustainable lease insurance product relative to surety bondsmany of which were turned off in this environment."
  • "We're honored to help Olive Tree as they navigate the turbulence," said Ed Wolff, CRO of LeaseLock.
  • Meanwhile, we're continuing to expand our footprint and are thrilled to add Olive Tree to our client roster."

Olive Tree Holdings Deploys LeaseLock Across Entire Portfolio

Retrieved on: 
Thursday, April 30, 2020
Software, Construction & Property, Insurance, Finance, Data management, Professional services, Technology, Residential Building & Real Estate, Plants, Organisms, Economy, Sureties, Contract law, Legal documents, Building engineering, Surety bond, Olive, Insurance, Bond, Lease

LeaseLock , the only provider of a nationwide A-rated lease insurance program that totally eliminates security deposits, surety bonds and guarantors in rental housing, today announced Olive Tree Holdings (Olive Tree) is the newest company to implement LeaseLock Zero Deposit across its entire portfolio of more than 6,000 apartment homes.

Key Points: 
  • LeaseLock , the only provider of a nationwide A-rated lease insurance program that totally eliminates security deposits, surety bonds and guarantors in rental housing, today announced Olive Tree Holdings (Olive Tree) is the newest company to implement LeaseLock Zero Deposit across its entire portfolio of more than 6,000 apartment homes.
  • Its clear LeaseLock has a stronger, more sustainable lease insurance product relative to surety bondsmany of which were turned off in this environment.
  • Were honored to help Olive Tree as they navigate the turbulence, said Ed Wolff, CRO of LeaseLock.
  • Meanwhile, were continuing to expand our footprint and are thrilled to add Olive Tree to our client roster.

SFAA and NASBP Request Emergency Action Requiring Acceptance of Electronic Execution of Surety Bonding During the COVID-19 Pandemic

Retrieved on: 
Monday, April 6, 2020
Sureties, Surety bond, Law, Bond, Economy, Private law, Performance bond

WASHINGTON, April 6, 2020 /PRNewswire/ --The Surety & Fidelity Association of America (SFAA) and the National Association of Surety Bond Producers (NASBP) urge federal, state and local officials, without delay, to issue emergency action regarding acceptance of the electronic execution and delivery of construction surety bonds and commercial surety bonds.

Key Points: 
  • WASHINGTON, April 6, 2020 /PRNewswire/ --The Surety & Fidelity Association of America (SFAA) and the National Association of Surety Bond Producers (NASBP) urge federal, state and local officials, without delay, to issue emergency action regarding acceptance of the electronic execution and delivery of construction surety bonds and commercial surety bonds.
  • The SFAA and NASBP issued a joint Request for Emergency Action to federal, state and local officials outlining their position.
  • www.surety.org
    Founded in 1942, the National Association of Surety Bond Producers (NASBP) is the association of and resource for surety bond producers and allied professionals.
  • NASBP members specialize in providing surety bonds for construction contracts and other purposes to companies and individuals needing the assurance offered by surety bonds.

Demotech Investigates Impact of COVID-19 on Surety Insurance

Retrieved on: 
Thursday, April 2, 2020
Economy, Finance, Money, Sureties, Insurance, Insurance industry, Types of insurance, Surety bond

At the forefront of the issue of the ability of businesses to perform under stress is surety insurance.

Key Points: 
  • At the forefront of the issue of the ability of businesses to perform under stress is surety insurance.
  • As of December 31, 2019, there were 323 insurers that reported direct premium written for the surety insurance line of business.
  • Direct premium written (DPW) for surety insurance for the 323 insurers was nearly $6.8 billion at year-end 2019.
  • Surety insurance comprised approximately 17 percent of these top 20 insurers' books of business and was but 3 percent of the books of business of all carriers writing some surety.

LeaseLock Releases Automated Claims for Rental Housing

Retrieved on: 
Thursday, February 27, 2020
Economy, Finance, Money, Contract law, Legal documents, Insurance, Sureties, Lease, Surety bond, Bond

MARINA DEL REY, Calif., Feb. 27, 2020 /PRNewswire/ -- LeaseLock , the only provider of a nationwide A-rated lease insurance program that totally eliminates security deposits and deposit alternatives like surety bonds in rental housing, today announced the release of its Automated Claims feature.

Key Points: 
  • MARINA DEL REY, Calif., Feb. 27, 2020 /PRNewswire/ -- LeaseLock , the only provider of a nationwide A-rated lease insurance program that totally eliminates security deposits and deposit alternatives like surety bonds in rental housing, today announced the release of its Automated Claims feature.
  • "Creating a frictionless, one-click experience is the future of insurtech," said Reichen Kuhl, CEO and Co-Founder of LeaseLock.
  • "We aim to disrupt the old ways of insurance by proactively identifying and suggesting potential claims for our customers, rather than relying on a 'breakage' model dependent on forgotten claims.
  • This uniquely positions LeaseLock to automate the entire lease insurance processfrom coverage to claimsand push the boundaries of what insurtech can do for the rental housing industry."