Underwriting is a required part of the surety bond process. Sureties need to understand the risks associated with providing a bond for a particular person, organization, etc., so they will look for certain criteria and red flags that are known to cause risks. This also plays into the price paid for the bond, but it’s…
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Back in 2019, the Minnesota state senate passed bill 2415, which dealt with higher education appropriations and policy provisions. Among these provisions were changes to the types of educational institutions that are required to post a surety bond that provides coverage based on the educational program they provide. What Types of Educational…
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Most conservatorships, whether new or existing, are required by the courts in their state to obtain a surety bond. These conservatorship surety bonds provide protection for the person who is the subject of the conservatorship in the event that the conservator fails to faithfully fulfill their duties. In many cases these bonds are required either before or just…
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As business owner, you are tasked with deciding which benefits to offer your employees. This includes healthcare plans, which may or may not include Health Savings Accounts (HSAs). In the end, it’s up to you whether to include an HSA with your benefits package and doing so can provide a lot of benefits to both…
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Understanding a contract is important regardless of its contents. It’s never a good idea to sign your name onto anything that you do not explicitly understand. This is the case for any contract, and it’s especially important in the surety industry. Whether you are a guardian seeking a guardianship bond, a business seeking a licensing bond, an attorney seeking…
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Workers’ compensation is a valuable piece of commercial insurance that nearly every business can benefit from holding. It protects the wages of employees in the event one of them is unable to work due to a workplace incident. It also helps businesses provide more value to their employees while protecting their financial assets. Most businesses…
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While similar, there are identifiable differences between temporary restraining orders and preliminary injunctions, and each of them has a specific place in the legal system. Each one also means a different thing for your case. These are the major differences between preliminary injunctions and temporary restraining orders. What is a Preliminary Injunction?…
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Making the decision to place a relative or close friend in a nursing is not easy, but when it comes time to transfer care of someone over to another person or organization, you want to be sure that the person will be well cared for. While the vast majority of nursing homes and employees…
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Fidelity bonds are a type of commercial insurance that employers use to protect their business against fraud or harmful actions committed by their employees. This type of insurance also protects the customers of a business should the actions committed by the employees affect them as well. Most businesses need to have fidelity bonds in order to…
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Those who are conservators in Minnesota should be familiar with a few things: MyMNConservator: the online portal where conservators can take place in the statewide accounting review program which occurs every year. The Conservator Account Auditing Program (CAAP): the statewide auditing program of conservators that is conducted regularly. The Conservator Account Review Program (CARP): a newer program that…
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