Bond & Specialty Insurance provides a wide range of customers with surety and management liability products and risk management services. Coverages include performance, payment and commercial surety bonds for construction and general commercial enterprises, as well as fidelity and crime coverages and directors & officers, employment practices, fiduciary and professional liability coverages, primarily for U.S.-based […more]
The WIP Working Group is responsible for standardizing data in Work-in-Process reports and promoting the use of these standards for data collection in the surety underwriting process.
Surety providers review the contractor’s financial statements to identify risks and determine eligibility for surety bonds. Financial statements include a Work in Process (WIP) report that describes the financial performance and status of a contractor’s construction projects. Today’s surety underwriting process is highly manual and therefore, labor-intensive, time-consuming and costly. Working Group Members Using Data […more]