Understanding the distinctions between surety and insurance is crucial in comprehending their respective roles in the construction industry. Surety bonds serve as vital financial guarantees, while insurance indemnifies against unforeseen events. By delving into the evolving functions of surety, we gain a deeper appreciation for its significance in fostering trust and stability within the construction sector. The surety underwriting process acts as a careful gatekeeper, ensuring that only reliable and qualified contractors are bonded. Additionally, commercial and contract bonds provide further protection and assurance for a range of business activities. Embracing the interplay between surety and insurance is essential for the successful execution of construction projects and the overall growth of the industry.
Accreditation: 2 Hours
ON/BC/MB Accreditation: Technical Hours
SK: All classes other than Life / General
AB/MB: General and Adjusters
