Framework · 3:50
// THE QUOTE
“in the simplest terms insurance is an insurance company taking a look at the chance”
Clean insurance-vs-surety primer: actuarial risk vs a three-party arrangement where the surety lends its balance sheet. Stands alone as surety 101.
Full episode at 3:50Construction Bonds Explained: How Surety Pre-Qualification Works in Atlantic Canada (Intact & FCA Surety) ▸
THE LESSON THIS CLIP CARRIES
Surety is a credit product, not insurance: the surety lends its balance sheet to vouch for the contractor to the project owner.
“surety company is doing is they’re lending their balance sheet to the contractor”
THE CHAPTER IT LIVES IN
Surety 101: Insurance vs. Surety and How Bonds Work
3:23
Clips like this, every two weeks.
SOURCE: 3:50 of Construction Bonds Explained: How Surety Pre-Qualification Works in Atlantic Canada (Intact & FCA Surety)