Contractors can now benefit from a direct relationship with their surety underwriter through a new company called Direct Surety. The company, established and managed by a risk management expert with firm roots in the construction industry, allows contractors a direct relationship with surety decision makers instead of working through a broker network.
“We believe contractors should be able to work directly with their surety underwriters to maximize their credit limits and obtain the best pricing,” said David Druml, founder and president of Direct Surety. “With Direct Surety, contractors work directly with us – their underwriter – instead of through a surety broker. As veterans in the construction industry, we speak their language and can help them improve and grow their businesses while maximizing surety credit limits.”
Direct Surety uses a unique underwriting approach and proprietary process designed to maximize a contractor’s surety credit and lower the cost of bonds through the use of technology. Underwriters share their assumptions and credit limit calculations with the contractor to validate their accuracy.
"Underwriting is not an exact science, and there is almost always information that is not fully or accurately considered," said Druml. “With Direct Surety’s approach, the underwriter and contractor develop a trusted and transparent relationship intended to help contractors improve their credit and maximize their limits. We provide access to our proprietary risk analysis technology, giving them a better understanding of their strengths and weaknesses. We also offer construction Enterprise Risk Management (ERM) training to provide contractors with step-by-step guidance to improve their profit-making ability, often leading to even higher credit limits.”
Founder and president David Druml grew up in a construction family and was himself a contractor for more than 15 years. He founded multiple construction-related companies, including a public works construction firm, a precast manufacturer, a bonding and insurance agency, and a risk management firm. As an instructor at UC Berkeley's Extension, he provides construction ERM training to contractors of all sizes, bank and surety underwriters, and those interested in launching new construction companies.
New Company Allows Contractors to Work Directly with Surety Underwriter
Group of industry veterans combine construction industry know-how, risk analysis expertise and technology to form a new surety underwriting company that partners directly with contractors
September 24, 2013
