Industry News
Developing a Strategic Business Development Process
Author, Anne Wright, Surety Relationship Executive, Rancho Mesa Insurance Services, Inc.
When your business development strategy aligns with your unique strengths and you are no longer competing solely on price, you have become your clients’ preferred partner because of the value you bring.
From RFI to Payment: Navigating the Full Change Order Lifecycle
Author, Anne Wright, Surety Relationship Executive, Rancho Mesa Insurance Services, Inc.
I recently had the pleasure of interviewing Luke Thompson, Esq. who is uniquely qualified to help us understand the nuances of change orders. Based on our conversation, I’ve put together an overview of what all subcontractors should know about change orders.
Understanding the PLA Grievance Process
Rancho Mesa’s Surety Relationship Executive Anne Wright sits down with Adrianna Lopez, Director of Labor Relations for the Associated General Contractors (AGC) to discuss the grievance process for project labor agreements.
Exit Strategies for Construction Companies
Author, Anne Wright, Surety Relationship Executive, Rancho Mesa Insurance Services, Inc.
For years, I’ve heard various clients’ explain their plans to ensure both retirement and business continuity as their key people plan to exit the workforce. Depending on the company, some plans have gone well, and others not quite as well. And, some plans are ever evolving. Typically, this process will take a lot of time and thought, and rethinking in order to make sure it is done right.
The History, Importance and Value of Surety Bond Requirements for Contractors
Author, Anne Wright, Surety Relationship Executive, Rancho Mesa Insurance Services, Inc.
Surety bonds, in the world of construction, guarantee that the obligations of the contract will be properly completed and all costs paid. The concept of surety – which is a guarantee of one party for another’ party’s debts or obligations – literally goes back to ancient times.
A Contractor’s Best Practice Approach to Price Escalations in the Current Market
Author, Anne Wright, Surety Relationship Executive, Rancho Mesa Insurance Services, Inc.
Historically, market conditions and economic factors have contributed to both contractors and subcontractors having to deal with price escalations. Today, the uncertainties of how the tariffs will impact the construction industry is causing many to rethink their pricing models and contracts.
Contractors’ Guide to Navigating Cybersecurity Maturity Model Certification
Author, Anne Wright, Surety Relationship Executive, Rancho Mesa Insurance Services, Inc.
In true government fashion, the Cybersecurity Maturity Model Certification requirement, more commonly referred to as CMMC, is a mouthful! While most companies are familiar with or are working on compliance with this requirement by now, we felt it was appropriate to share the history of this certification with our audience.
Construction Change Orders: What Contractors Should Know
Rancho Mesa’s Surety Relationship Executive Anne Wright and Pam Scholefield of Scholefield Law in San Diego, discuss what affects subcontractors and prime contractors when changes occur in their contract.
Building a Productive Surety Relationship
Author, Anne Wright, Surety Relationship Executive, Rancho Mesa Insurance Services, Inc.
Having represented contractors and developers of all types and sizes for many years, I have plenty of examples of what works best for clients to maintain a level of surety support that helps them meet their growth goals and objectives: updated financials and proper communication.
Subcontractors: The Prime Contract and Its Impact On Your Rights and Responsibilities
Author, Anne Wright, Surety Relationship Executive, Rancho Mesa Insurance Services, Inc.
Reviewing contracts is not everyone’s favorite thing to do. But, I would like to share some quick thoughts on why asking for and reviewing the prime contract (before you sign your subcontract, ideally) can be important for subcontractors. This can help strengthen your position if certain conflicts arise.
Getting to Know Our Trade Associations – Meet Andy Berg, Executive Director of NECA San Diego
Author, Anne Wright, Surety Relationship Executive, Rancho Mesa Insurance Services, Inc.
As we have shared with our clients and viewers in the past, Rancho Mesa finds a tremendous amount of value in memberships of various trade associations. Becoming involved in these associations by attending events, and participating in committees, ultimately at board level, has allowed for a deeper understanding of the construction industry that we bond. I have found value in following legislation changes that affects the industry, as well as learning about the issues and processes available for contractors to run safer jobs, be more competitive in the industry, and manage contracts and financial reporting. It has made me better at what I do as a surety agent.
Anne Wright Explores Philadelphia Surety with Mike Hall
Rancho Mesa’s Surety Relationship Executive Anne Wright sat down with Mike Hall, Vice President of Surety for Philadelphia Insurance Company to explore what makes Philadelphia Surety unique and the programs they offer businesses placed with them.
Are Bonded Projects Really Better Performers than Non-Bonded Projects?
Author, Anne Wright, Surety Relationship Executive, Rancho Mesa Insurance Services, Inc.
The goal of the surety, in any relationship, is to ensure that the bonded job is completed successfully, is profitable for their client, and is without claims.
Contract Provisions to Review for Successful Projects
Author, Anne Wright, Surety Relationship Executive, Rancho Mesa Insurance Services, Inc.
Contracts are not always the most fun to read, but certainly important for all of us in the construction industry.
Best Practices for Growing Your Surety Program
Author, Anne Wright, Surety Relationship Executive, Rancho Mesa Insurance Services, Inc.
You may know that the surety client/agent/underwriter relationship is different from other lines of insurance.
Whether you are new to the bonding process, or have been doing bonded work for years, there are a handful of important items that can assist with securing the best relationship for your bonding needs. It really boils down to a few key areas: timely information, accurate information, and regular communication.
Utilize Payment Bonds as a Backstop for Getting Paid
Author, Anne Wright, Surety Relationship Executive, Rancho Mesa Insurance Services, Inc.
Contractors may do their work and meet their contractual obligations, but on some jobs it’s harder to get paid than on others. As in any business, your collection activities are key to getting your money. Don’t be afraid to be a squeaky wheel. There are a couple of things I’d like to share as either a reminder, or perhaps an education, that all contractors should know and consider.
Five Contract Provisions to Consider
Author, Anne Wright, Surety Relationship Executive, Rancho Mesa Insurance Services, Inc.
When the surety provides the performance and/or payment bond required by a contract, that contract is the basis of the surety’s guarantee. Simply put, the bonds follow the contract. Because of this, there are a few key things that the surety is going to want to review, and you should do the same. The goal is to make sure you, as the contractor, have everything in place to ensure your success.