WIP/Surety Working Group
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.
Work in Process Taxonomy Guide
The guide is intended to be used by preparers of financial statements familiar with the WIP Report format. The guide covers the basics required to allow a preparer to create a WIP report in an XBRL format. It is not intended as a guide to the XBRL specification. Software providers looking to incorporate modules into […more]
Crowe LLP
Crowe LLP is one of the largest public accounting, consulting, and technology firms in the U.S. Connecting deep construction industry accounting and tax expertise and specialized knowledge with innovative technology, our dedicated professionals create value for our clients with integrity and objectivity. As part of our initiative to help automate the construction industry’s information flow […more]
Zurich Insurance
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With more than 55,000 employees, it provides a wide range of general insurance and life insurance products and services. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, including multinational corporations, in more than 170 countries. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872.
Travelers
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]
2016 Surety Work in Process Taxonomy
The 2016 XBRL WIP Taxonomy (Taxonomy) contains concepts for Contractors to prepare Work in Process reports to submit to Surety insurance companies. We encourage all interested parties to review and provide feedback.
Altova Introduces Work in Process (WIP) XBRL Add-In for Excel
The Altova Work in Process (WIP) XBRL add-in for Excel makes it easy for contractors to submit WIP reports to sureties in a valid XBRL format – simply by entering the information into a spreadsheet in Excel. Learn more.
XBRL US Surety Working Group Publishes WIP Taxonomy Release and Business Case
Data standards in surety underwriting will improve efficiencies, accuracy and timeliness The Surety Working Group formed under XBRL US announced today the completion of the Proposed Recommendation of the Work-in-Process Taxonomy, a digital dictionary of terms to describe reported values for costs, revenues and gross profit used to identify risks and determine eligibility for surety […more]
Data Standards in Surety Underwriting: Technical Review
The XBRL data standard can automate the consumption of financials and Work in Process reports from contractors, eliminating the need to key in data during the underwriting process because it renders that data computer-readable. The XBRL data standard will not change the underwriting process or what data is used, it will simply change how the […more]
