Trisura Guarantee Insurance Company truly believes it can be done better. The “it” in this instance is the surety underwriting of small contractors. We have heard from our broker partners that the small contractor segment of the surety market is underserved and in need of a unique approach. As part of our continued efforts to be a more full service surety for our brokers, Trisura is pleased to announce the launch of a new small contractor program.
WHAT DOES IT ALL MEAN?
The goal of our small contractor program is to focus on what’s important and not get bogged down by what’s not. We will manage these accounts better by ensuring that a small account isn’t underwritten the same way as a traditional surety account.
We take a more holistic approach to evaluating the contractor. Our aim is to balance the personal finances of the shareholder with the corporate finances of the construction company. In doing so, we are looking at metrics like:
-Length of time in business -Profitability
-Tangible Worth -Debt Loads
-Corporate & Personal -Personal Net Worth
-Personal Credit Scores
We understand when our brokers tell us that the time vs. benefit to setting up a small contractor surety facility is challenging. With our streamlined approach, it’s our expectation that the process is consistent, fast and decisive for our brokers, allowing for efficient and convenient management of your small account portfolio.
Once a contractor has qualified through our standard scoring model, they will be eligible for aggregate support of up to $1,000,000 in bonded contract values.
One page contractor’s questionnaire
Personal net worth statement
Most recent accountant prepared financial
Contact your Trisura underwriter with your next small contractor submission and see how easy and rewarding Trisura’s small contractor experience can be.