Surety Bond premiums expand in the first half of the year in Mexico

The First Half of the Year One of the great places to find information is from Mexico.  Yes, it s a whole different country, but their reporting agency can show some pretty accurate information.  Of course, Mexico typically runs a few months behind the United States, but it s generally a good indicator of what is going on. Mexico also has a system that is quite different from the United States.  Instead of a whole host of surety bond companies, they have fifteen authorized firms.  These surety companies reported $4.35 billion pesos (approx $333 million US) in premiums.  Significantly, this is a increase of over 12.5% over the previous year. Administrative bonds, which is 73.2% of the market, had the largest growth in the amount of 18.8%. Fidelity bonds fell 0.9% (basically, statistical noise) and commercial bonds declined 7.5%. The post Surety Bond premiums expand in the first half of the year in Mexico appeared first on Surety, Contract, Payment, and Performance Bonds.
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Surety Bond premiums expand in the first half of the year in Mexico - Surety, Contract, Payment, and Performance Bonds

Mexico has reported a large increase year-over-year on surety bond premiums. We can get good information from Mexico, as it has a different structure...
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Surety Bond premiums expand in the first half of the year in Mexico

The First Half of the Year

One of the great places to find information is from Mexico.  Yes, it’s a whole different country, but their reporting agency can show some pretty accurate information.  Of course, Mexico typically runs a few months behind the United States, but it’s generally a good indicator of what is going on.

Mexico also has a system that is quite different from the United States.  Instead of a whole host of surety bond companies, they have fifteen authorized firms.  These surety companies reported $4.35 billion pesos (approx $333 million US) in premiums.  Significantly, this is a increase of over 12.5% over the previous year.

Administrative bonds, which is 73.2% of the market, had the largest growth in the amount of 18.8%.

Fidelity bonds fell 0.9% (basically, statistical noise) and commercial bonds declined 7.5%.

Surety Bond premiums expand in the first half of the year in Mexico

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Some things to think about before renewing your bond

Surety Agency Unique Selling Proposition When thinking about an insurance coverage company to manage your surety bond, it is vital to identify exactly what their unique position is in the market. A lot of companies appear to offer similar products, yet many times it is terrific customer support, direct partnerships with insurance coverage suppliers, as well as fast turn-around time that makes all the difference. Premiums Every insurance agency claims to have competitive premiums, but direct partnership with insurance coverage business, marked down costs for multiple-year bonds, and also convenient funding choice often times set one agency apart from their competitors.  A good bond agency has built strong, long-lasting partnerships with some of the highest-rated insurance coverage firms in the industry, providing us direct access to the most competitive prices offered.   A professional agency likewise underwrites most bond programs in-house, meanings that a genuine individual assess
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Some things to think about before renewing your bond

Surety Agency Unique Selling Proposition

When thinking about an insurance coverage company to manage your surety bond, it is vital to identify exactly what their unique position is in the market. A lot of companies appear to offer similar products, yet many times it is terrific customer support, direct partnerships with insurance coverage suppliers, as well as fast turn-around time that makes all the difference.

Premiums

Every insurance agency claims to have competitive premiums, but direct partnership with insurance coverage business, marked down costs for multiple-year bonds, and also convenient funding choice often times set one agency apart from their competitors.  A good bond agency has built strong, long-lasting partnerships with some of the highest-rated insurance coverage firms in the industry, providing us direct access to the most competitive prices offered.   A professional agency likewise underwrites most bond programs in-house, meanings that a genuine individual assesses your application, not a computer. We comprehend that everybody’s conditions are various; our broad rate framework and individual underwriting allow us to assist clients despite their monetary situation.

We aim to bond and insure our clients as long as they been around, and also we know that loyalty can be difficult ahead by when various other firms market competitive costs. A good agency additionally knows that not every person has best credit history and also can qualify for the lowest prices.

Some things to think about before renewing your bond

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What does a Surety Bond Cost? - Surety Bonds, Bid Bonds, Performance Bonds

What does a Surety bond cost? The cost of a bond depends on the type of bond as well as other factors such as...
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