Self-Insured Retention Plans

Self-Insured Retention Plans

Self-Insured Retention Plans often require security to be put up against the self-insured portion of the plan. Insurers agree to take a risk over a certain level, provided the company retains the risk below a certain level. Insurers are willing to do this because...
Surety Bond vs Letter of Credit

Surety Bond vs Letter of Credit

I recently had several situations where a client put up a letter of credit for an obligation that could have used a surety bond instead. A letter of credit is issued by and is the obligation of a bank. Many clients have a relationship with a bank, but not with a...