For contractors, equipment such as bulldozers, cranes and power tools are extremely valuable. Not only is this equipment expensive, but their businesses simply cannot run without them. In order for these key assets to be protected in the event of damage or loss, Contractor’s Equipment Insurance is an essential part of any construction company’s insurance program.
There are many ways to provide market intelligence, but as surety professionals, we need to be very careful not to violate confidentialities. In the surety industry, we are privy to classified financial information, often times across competing contractors and subcontractors, which we cannot divulge. However, surety professionals can still speak in generalities about the financial state of the subcontractor pool and surety marketplace which can prove helpful to many contractors.