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First Quarter 2022: Expansion Continues

Posted: May 13, 2022
At Gray Surety, the first quarter of 2022 was marked by growth in our team, formation of a new regional office, and increased Treasury list limits. Compared to this period last year: Premiums are up 47% Submissions are up 44% Gray Surety is expanding its reach out of the Southeast and Southwest across the country with the establishment of the Upper Midwest regional office. David Martinson is leading the charge as the regional manager covering Minnesota, Wisconsin, Iowa, South Dakota, […]

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Growth Punctuates 2021

Posted: January 7, 2022
A year-end review of Gray Surety finds evidence of growth and expansion in every corner of the business. We met all our expansion goals for 2021, including opening new offices and onboarding additional team members, and are grateful to the agency partners who helped us get there.                             Premium total up 30% over previous year; New business accounts for 40% of increased premium; More than 9,000 commercial […]

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How to Answer Your Clients’ Questions About Indemnity Agreements

Posted: October 13, 2021
When general contractor clients or construction firms approach you about securing a construction bond for their upcoming projects, it’s normal for them to ask questions about what they need to do to fulfill the contract terms. One component that tends to confuse even experienced contractors is the general indemnity agreement (GIA). Before a surety issues a bond, it will require the contractor sign a GIA. The GIA ensures that the surety is made whole for any losses or expenses it […]

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5 Instances In Which Subcontractor Bonding Is A Must

Posted: September 23, 2021
For contractors who work with subcontractors on different projects, the thought of having to invest in surety bonds for those subcontractors can feel a bit redundant. After all, the general contractor already has bonds in place, and they trust their subcontractors to follow through on the job well. With these thoughts in mind, your contractor clients may not be thinking about the necessary protection subcontractor bonds deliver Surety bonds for subcontractors help guarantee that the general contractor won’t run into […]

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Helping Your Clients Maintain Surety Credit During Expansion, Merger, or Acquisition

Posted: August 13, 2021
Your surety bond construction clients need more from you than contract and commercial surety bonds. They need a trusted adviser to help them grow. To be an adviser, you need to check in regularly with your contractor clients about their business growth strategy, to hear about their prospects, and to listen for the challenges they are facing in different types of projects. By doing so, you can better understand where each of your clients’ businesses is going be prepared to […]

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Your Guide to The Miller Act Vs. The Little Miller Act

Posted: December 16, 2020
If you work in construction, you have probably heard of The Miller Act, especially if you specialize in government contracts. This is your guide to The Miller Act vs. The Little Miller Act, which are state-specific versions that can have a bearing on your work as well. Have additional questions? Don't hesitate to contact our team at Gray Surety to learn more. The Miller Act works to protect first and second-tier construction parties by allowing them to recover outstanding debts. […]

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What Is A Surety Bond?

Posted: August 25, 2020
Whether it's a parking lot or levee, highway, or hospital, you'll usually need a surety bond to guarantee your work on a state or federal construction project. Federal contracts valued at over $150,000 require a surety bond. If you want to learn more about various types of surety bonds, this will be a helpful guide. At Gray Surety, we're committed to underwriting surety bonds that help companies grow their business in a responsible manner. We know a major part of […]

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What You Need to Know About A Force Majeure Clause

Posted: June 12, 2020
There is no doubt that we’re living in uncertain times. The COVID-19 pandemic has prompted a worldwide economic standstill. In order to flatten the curve, government authorities are calling on people to stay at home and avoid the risk of exposure. So, what does this mean for government construction projects? Supply chain disruptions, illness among workers, and other factors can all influence your original intended timeline. Whether drafting new agreements or revising existing ones, the importance of a force majeure […]

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