Below is a copy of the notice from Ricardo Lara, Insurance Commissioner of the California Department of Insurance. Notice emailed to us on January 10, 2025. TO: All Residential Property Insurance Companies, Licensed Independent Insurance Adjusters, Insurance Agents/Brokers, and Other Interested Parties FROM: Insurance Commissioner Ricardo Lara DATE: January 9, 2025 RE: 2025 Annual Notice …

Important Notice from The California Department of Insurance Pertaining to Residential Property Insurance & the Declared State of Emergency Read More »

The California construction industry faces a significant change as Assembly Bill 2622 raises the threshold for unlicensed contractor work from $500 to $1,000, effective January 1, 2025. This comprehensive guide explores what this change means for both licensed and unlicensed contractors in California. The New Legislation Explained Think of this change like updating an old …

Discover What You Need to Know About California’s New $1,000 Threshold for Unlicensed Work (Assembly Bill 2622) Read More »

A Contract Performance and Payment Bond is a type of surety bond used in construction and other contracting projects to provide financial security and ensure that contractors fulfill their contractual obligations. It typically consists of two components: 1. Performance Bond Guarantees the contractor will complete the project as outlined in the contract. Protects the project …

What is a Contract Performance and Payment Bond and How Do I Buy One? Read More »

A bid bond is a type of surety bond issued by a third-party guarantor (usually an insurance company or a bank) to ensure that a contractor will honor the terms of their bid and enter into a contract if awarded the project. Bid bonds are commonly used in construction projects, especially in public or large-scale …

What is a Bid Bond, How Much Do They Cost, and How Do I Get One? Read More »

As a contractor, knowing the difference between admitted and non-admitted insurance companies is key—kind of like knowing the difference between a hammer and a nail gun! In the most simplistic terms, an “admitted” insurance provider has been approved by a state’s Department of Insurance, and a “non-admitted” carrier has not. While this simple definition might …

What are Admitted carriers and Non-admitted – Surplus Lines Insurance carriers? Read More »

We understand that maintaining valuable relationships with your customers, vendors, and subcontractors are key to the success of your business. You take pride in the quality of your work which, by extension, includes the quality of your subcontractors’ work. Therefore, it’s important to consider potential unique circumstances and risks when hiring subcontractors. POTENTIAL BUSINESS LIABILITIES …

The 6 Biggest Risks Contractors Make in Hiring Subcontractors & How to Avoid Them – CYA 101 Read More »