5 Helpful Tips for New Surety Producers

This post is part of a series sponsored by Old Republic Surety.

Many independent surety bond producers are approaching retirement age. At the same time, government construction contractors who rely on surety bonds are preparing for a boom. That confluence of events makes this the perfect time for the younger generation of insurance agents to begin building a new surety book of business.

President Joe Biden’s Infrastructure and Jobs Act that passed in 2021 has opened huge opportunities to construction contractors who have the capacity to help rebuild U.S. infrastructure.

Because government contractors cannot work without surety bonds, those growth opportunities extend to surety producers at independent insurance agencies. Are you ready for more business?

It’s time to market your agency to the contractors who will need bonding for public construction projects. Here’s five tips to get you started:

Just as there are many insurance agents who will soon retire, creating a workforce shortage in the industry ― but also creating great opportunities for those poised to fill their positions ― there are also many bond producers who will soon retire, too. Now is the time to seize the opportunity to become a surety expert. It won’t happen quickly, but the payoff will be worth every moment you spend on surety education and marketing.