IRMI Feature Article Surety Outlook Underwriting Changes In Wip

Inflationary pressures and increasing labor costs have caused key central banks to take action, creating the swiftest rise in interest rates in decades, which opens up a real potential for a recession in 2023. For our industry, the next logical question becomes, “What impacts will this have on the construction community, and specifically, how will sureties react when it comes to underwriting new (and even existing) clients?” Be sure to read Gerard Leib’s informative outlook on the current surety market and related underwriting changes re: work-in-progress (WIP), now available on IRMI’s website.