New BX Tool Allows Agents to Issue Riders For Surety Bonds Online Mid-term changes to surety bonds have long been a cumbersome and unprofitable affair for insurance agents. Whether your customer needs their business name or address changed on their bond or they need to change their bond’s term, the process of issuing a rider …
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Fall 2022 Scholarship Winner: Theodore Lin The BondExchange Scholarship is an essay contest that seeks to help currently enrolled college students and high school seniors pay for their education by awarding one student per semester $1,000 in financial assistance. The Fall 2022 BondExchange Scholarship recipient is Theodore Lin, a student at UMass Amherst studying civil …
EV Charging Stations Bring Opportunity to Insurance Agents July 18, 2022 Electric vehicles (EVs) are rising in popularity, accounting for around 9% of all new cars sold in 2021. Accompanying this increase in demand is a sense of urgency to construct more public charging stations, as consumers list a lack of stations as one of …
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June 29, 2021 We’ve Upgraded the Agent Dashboard We’ve upgraded the agent dashboard, creating a singular space where you can receive notifications, see the status of all of your pending quotes, access upcoming renewals, and more! What’s Changed? Before the upgrade, the agent dashboard allowed you to submit new quotes, access your policy history, and …
Why are Some States Increasing Bond Limits? June 28, 2022 Have you ever wondered how surety bond limits are determined? Let’s be honest here; probably not, but we’re going to tell you anyway, as limit increases can significantly impact your customers. Legislative bodies (state legislatures and congress) set most bond amounts, or at the very …
When to Offer Your Customers Commercial Crime Coverage May 24, 2022 Picture this: A business owner falls victim to employee theft in an amount that exceeds the coverage afforded to them in their standard business owner’s policy. Naturally, they are distraught as they have to eat the remaining costs. After researching how to ensure …
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System Update: Quote Bonds Faster With New Autofill Feature May 16, 2022 Our primary goal at BondExchange is to develop helpful technology for insurance agents to quickly obtain surety bonds for their customers. With our latest system update, we cut down on the application inputs for our agents with a new type-ahead feature. What’s Changed? …
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May 16, 2022 We were selected by Redfin as an expert in their recent article: Project Left Unfinished? What to Do When a Contractor Doesn’t Finish the Job | Redfin
Proposed Massachusetts Bill Doubles Dealer Bond Limit April 19, 2021 Amid rampant inflation in the used car market, Massachusetts SD1027 seeks to increase the amount of the required surety bond for used auto dealers to $50,000 from the current $25,000, while strengthening the state’s “Lemon Aid Law”. The bill, proposed by state senator Paul Feeney …
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How High Fuel Prices Are Affecting Freight Brokers A year ago, the average national price per gallon for diesel fuel was $3.083. Today, that number sits at $5.029, and for small freight brokers, these price hikes are causing major headaches. What does this mean for insurance agents? Well, freight brokers must purchase a surety bond …
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