SAN JUAN, Puerto Rico, July 13, 2020 /PRNewswire/ -- The construction sector has suffered enormous losses during the current year as a result of the novel coronavirus. Government orders closing or restricting federal, state and local agencies' availability to permit applicants, enforcing social distancing and other limitations on commerce have particularly affected contractors, their sub-contractors and materials suppliers. Sensitive to the increased costs and decreased revenues of artisan, specialty and general contractors, Surety One, Inc. has established a contractor's surety bond discount program.
Surety bond underwriter, Surety One, Inc. offers license bonds, third party fidelity bonds and contract performance bonds, all three bond classes routinely requested by its contractor clientele. Bond premium discounts will be offered from five to thirty percent of market rates, available in accordance with state ratemaking rules and program criteria.
CEO of Surety One, Inc., Constantin Poindexter reports, "Since February of this year I have been repeatedly told that work and supply relationships have been severely affected by COVID-19. Contractors represent a very large and important part of our client base. Fair or not, coronavirus has and will continue to cripple our clients' activities and livelihoods. We just have to deal with it and if that means that Surety One, Inc. must take a hit to our premium revenue, so be it. Our contractors are with us in the good times so it's our responsibility to stand by them during the downturns."
Surety One, Inc. is an international insurance intermediary domiciled in Puerto Rico, licensed in all fifty states, U.S. Virgin Islands and Canada. The firm delivers on a broad geographic footprint with a local feel. For more information on the contractor's discount program or any surety bond need visit https://SuretyOne.com. For more information call (800) 373-2804 or email [email protected].