Surety Company Underwriter
In making an initial evaluation of a construction company, the underwriter will perform an in-depth study of the company’s reputation, its principal's character, and the overall integrity and business acumen of its management. They will also be interested in the financial managers cost system, construction capacity, (technical expertise to build), financial capacity, and feel comfortable that the contractor has an acceptable appetite for risk.
It is always important for a contractor to develop and maintain an ongoing relationship with the underwriter. This requires commitment, trust, and above all, communication which includes the timely reporting of the company’s financial condition and job status. Failure to do so reflects adversely on management and erodes confidence with the underwriter.