Direct Surety Enables Growing Contractors to Work Directly with Their Surety Underwriter to Get Higher Credit Limits and Better Pricing
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
Foster City, CA—September 24, 2013—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, is a pioneer in the surety space, allowing 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.”
Unique among the surety bond market, Direct Surety was born from the construction industry. 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.
About Direct Surety
Direct Surety is positioned to be the leading U.S. provider of contract surety bonds enabling contractors to go direct to a surety underwriter rather than through a broker network. Direct Surety believes in empowering contractors to grow and prosper by connecting decision makers, promoting transparency, and offering tools to improve their operations and surety credit limits. The company’s primary focus is providing contract surety bonds directly to contractors, eliminating the need for a middleman and promoting a strong relationship directly with a surety underwriter. Direct Surety is led by an outstanding team comprised of experts from the construction industry, technology space and field of surety.
Michael Kovacs, Senior Vice President of Marketing
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