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Originally Posted by Surety Wizard When you say "standard markets" what exactly do you mean? What should I be shooting for to be in a "standard market"? |
"Standard Markets" are surety companies that are going to be able to offer lower rates, but this is because they have stringent underwriting guidelines. They only write bonds that they expect little to no risk or loss from. To qualify through standard markets, you must have good credit and strong financials. They may also take a look at your past experience - that is why you may be asked to submit a resume. Another thing to keep in mind is that while some applicants might be very strong, the bond they need is considered too risky... so it is also possible to be turned down by certain surety companies simply because they aren't willing to write that particular type of bond.