Western Surety E-Services: Putting it all Together

By now, you’re likely aware of Western Surety’s E-Services and many of its functions and capabilities. The online platform is becoming more and more popular each day with more than half of our brokers already utilizing the service on a regular basis. This final edition of the E-Services e-zines will focus on the approval process and the premium quotes generated for bids.

How do approvals work?

The objective of developing an online platform was to best serve brokers by making the bond request process easier, less time consuming and more accurate. Bonds are approved if they fall within the set broker authorization for both single job and aggregate limits and if there are no other red flags such as design build elements or hazardous materials. Should the project fall outside of the set authorizations, the request will then be sent directly to the assigned underwriter for review. Once the underwriter has handled the request, an email is sent back to the broker, notifying them that the bond has been approved. Please keep in mind that if any information is unknown and if the form is left incomplete, the request can still be submitted through E-Services but it will be forwarded to the assigned underwriter for approval.

Premium Quotes

One of the great functions of the platform is its ability to automatically generate premium quotes for bid requests. This is a very helpful tool that allows brokers to respond quickly to contractors looking for premium estimates. For the calculation, E-Services will factor in the contractor’s bond rate, the selected obligee, and the type of bond. It can also provide the broker commission for the specific project. For projects with a duration in excess of two years, please consult the assigned underwriter for a premium quote.

Helpful Tip:

It is essential for brokers to ensure that the status of outstanding bids is up to date. Depending on the account, a few unsuccessful bids that are listed as outstanding could push the total work-on-hand calculation over the stated broker authorization. This could result in a delay to the approval process.

Service

We at Western Surety are constantly striving to make E-services better. If you have any questions, concerns, or suggested enhancements to our E-Services platform, please do not hesitate to contact us with your feedback. We are committed to providing the best service possible and we strive to ensure that your experience using the portal is a positive one.

Staff Changes

Regina Head Office: Please note that Tyler Kuntz has decided to leave Western Surety to pursue another opportunity unrelated to surety. Tyler’s last day of work will be Friday, May 4th, 2018. We appreciate Tyler’s efforts and wish him well in his future endeavors. All correspondence for the accounts previously handled by Tyler can be submitted to Greg Salmon, Regional Manager (gsalmon@westernsurety.ca).

 

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