Bonds - Powers Insurance & Risk Management

BOND SOLUTIONS FOR ALL SURETY PROGRAMS

The Tailored Surety Program of Choice

POWERS Bond Department has solidified long-term relationships with the best surety bond carriers in the country for both general contractors and trade subcontractors. Our tailored surety programs allow our clients to efficiently execute their business plans. In addition to the standard surety solutions, our program offers many other industry-specific options like:

Contact us for a quote today!

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Construction Bonds

Bond Requirements:

Certificate of Occupancy
Contractor License (Required by Municipal State & Federal Obligees)
Encroachment
Maintenance
Oil & Gas
Out-of-State Contractor License
Out-of-State Contractor Tax
Reclamation
Right of Way
Road & Sewer
Theft Guard - Fidelity
Union Wage & Welfare Warranty

Environmental Bonds

Bond Requirements:

Remediation Bonds/Contracts
Oil and Gas Well Plugging and Exploration Bonds
Land Closure Bonds
Land Reclamation Bonds

Court Bonds

Bond Requirements:

Administrator Bonds
Guardian Bonds
Executor Bonds
Trustee Bonds
Receiver Bonds
Fiduciary & Probate Bonds
Judicial Bonds- Plaintiffs' and Defendants' Bonds
Garnishment Bonds
Receiver (Equity Courts)
(Counter) Replevin
(Release of) Attachment

Public Officials Bonds

Bond Requirements:

Animal Control & Other Public Officials (Both Elected & Appointed)
Clerk
Deputy/Sheriff
Notary E&O
Notary
Superintendent
Treasurer

Agriculture Bonds

Bond Requirements:

Auctioneer (Livestock & Other)
Dealer (Livestock , Grain, Commodities, produce, milk, fruit, veggies, etc.)
Farm Labor Contractor (H-2A)
Lease Guarantee
Packers & Livestock ACT- Dealers/Market Agency
Pesticides Application
Public Weigher
Scale Repair
Seed Buyer
Warehouse - Grain/Commodities (Cooperatives)

Auto Dealer Bonds

Bond Requirements:

Healthcare Bonds

Bond requirements:

Accountable care organization (ACOI/Medicare Shared Savings Program - Federal)
Discount Medical Plan/ Provider Organization
DMEPOS Competitive Bidding Program
Durable Medical Equipment (DMEPOS)
Patient Trust Fund
Pharmacy Benefits Manager
Prescription Drug Wholesaler
Theft Guard - Fidelity

Non-Profit Bonds

Bond requirements:

Private School (Cosmetology, Driving, Private, etc.)
Professional Solicitor/Fund Raiser
Theft Guard - Fidelity

Real Estate Bonds

Bond Requirements:

Appraisal Management Company
Check Seller
Collection Agency
Escrow Officer/Escrow License/Title Insurance Agent
Financial Guarantee
Insurance Broker/Producer/Adjuster
Lost Instrument
Money Transmitter
Mortgage Broker/Originator/Lender
Notary E&O
Notary
Real Estate Broker/Inspector
Regulated Loan/Small Loan
Medallion Signature Stamp Guarantee
Theft Guard - Fidelity
Third Party Administrator

Transportation Bonds

Bond Requirements:

Airplane Dealer
Car Wash
Fuel Tax
Highway-Use/Toll
ICC/FMCSA Broker (BMC-84)
Inspection Station
Ocean Transportation Intermediary (NVOCC/Freight Forwarder)
Over Axle & Over Weight Permit
Oversize/Super Heavy Permit
SDDC (Military Freight Forwarder)
Transporter/Hauler (Fuel, Waste, Liquor, Tired)
Yacht Broker
Airline Reporting Corporation (Travel Agencies)
Customs

Hospitatlity Bonds

Bond Requirements:

Go to our Bond Forms

What does the POWERS process look like?

Our process starts by listening to your needs and tailoring a surety program that allows you to efficiently execute your business plans.

Enter Basic Information

Start by telling us a little bit about your business so we know exactly how to help you insure it properly.

Name
Email
Phone Number
Years in Business
Largest Job Completed
Current Surety

Fill out the request form above. We look forward to speaking with you!

We Gather Your Info

Bond Information Request (Contractors Only)

Last three year-end company financial statements (CPA prepared preferred but internal will suffice if no CPA statement is currently available)
Most readily available interim balance sheet, income statement, AR aging (with explanation on anything older than 90 days) and job schedule (if prepared)**
Most recent company & personal tax returns (first 5 pages of company return will suffice)
Personal Financial Statement of Owner(s) and spouse
Contractor Questionnaire & Executed Credit Authorization Form
Financial statement of any other entity owned by owner and spouse
Bank Reference Letter
Current Certificate of Insurance
Bond request form if there is an immediate need

Marketing & Negotiation

Next, we send your information to our carriers that are actively seeking companies like yours. Then, we compile our marketing efforts along with our recommendation for the best surety partner for your company.

We Safeguard and Serve

Once the program is established, we become your advocate and voice continuing to serve your business and maximizing the return on your bond program.

Why choose our agency for your Surety Bonds?

Unlike a generalist insurance agency, our Construction Services Unit understands your industry. We will utilize the expertise we have developed over the years to negotiate the best program for your business plan.

Industry Expert Referral Network

Looking for an accountant, banker, attorney, or qualified sub-contractor? Let us help. We serve those who serve your industry and have developed an extensive referral network of other professionals who work exclusively with contractors.

Sub-Contractor Prequal

Do you have a new sub-contractor you are interested in working with? Are you a sub-contractor interested in bidding to a new general contractor? Let us put our analysis tools to work for you and provide you with credit worthiness of the company you are thinking of working with.

Financial Analysis

Our construction services unit will provide a full financial analysis of your company prior to starting the marketing process. Answering the bond underwriter’s potential questions before they are asked is the goal. Let our years of experience be the proper introduction for your company’s first impression to the market place.

Peer Group Analysis

Ever wondered how your company financials compare to your competition? Powers can facilitate answering that question. Through our carrier partnerships we can provide you with real life apples to apples comparison of those you regularly compete against.

Project Document Review

Is your insurance compliant with the project you are about to bid? Don’t get stuck with added insurance cost after your bid is submitted. Let our Construction Services Unit Review your contracts for compliance from a bond and insurance standpoint prior to your bid.

Let us put our extensive experience to work for you.

Email: Bonds@powersinsurance.com

Call: 1-800-948-5100

Click the button below to get to the Bond Request Form.

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