Karl Choltus, National Surety Practice Leader, discussed the rising demand for surety bonds in a recent interview with Insurance Business magazine. He attributed this surge to financing challenges amid infrastructure growth, including projects fueled by the Inflation Reduction Act and Biden’s infrastructure bill.
Choltus noted businesses turn to surety bonds due to lending difficulties caused by high-interest rates. Insurers are preparing to meet this demand, recognizing surety bonds as a profitable market segment.
Surety bonds play a vital role across industries like renewable energy and real estate, offering financial security amidst complex project financing. Choltus emphasized their versatility and importance as the U.S. embarks on ambitious infrastructure projects.
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