The Machaen Insurance Agency Blog
Insights on contract surety bonding, commercial surety for money transmitters, and professional lines insurance, written by Machaen Insurance Agency's underwriting team.
Digital Asset Business Bonds: California DFAL, Louisiana Virtual Currency, and New York BitLicense
If your business touches virtual currency, three states, California, Louisiana, and New York, require an additional bond beyond the standard money transmitter bond. Here's what each one is.
Read Article →How Much Cyber Liability Insurance Does a Small Business Actually Need?
There's no universal cyber liability limit that fits every business. Here's how to actually size it, based on the data you hold, your industry, and your contracts.
Read Article →Scaling Your Money Transmitter Bond Program as You Expand to New States
Licensing in one more state doesn't just mean one more bond, it means one more renewal date, one more obligee, and one more thing that can lapse. Here's how to manage it at scale.
Read Article →Crime & Fidelity Insurance: Protecting Your Business from Internal Fraud
Employee theft and funds transfer fraud fall outside what general liability or cyber policies typically cover. Here's what crime and fidelity insurance actually protects against.
Read Article →NMLS E-Bond vs. Paper Bond: Which Filing Method Does Your State Require?
Filing a money transmitter bond isn't the same process in every state. Here's the difference between an NMLS e-bond and a traditional paper bond, and why it matters for your timeline.
Read Article →Directors & Officers Insurance: Why Even Small and Private Companies Need It
Directors & officers insurance gets associated with public-company boardrooms, but private companies, startups, and nonprofits face many of the same exposures. Here's why it matters at any size.
Read Article →What Does Errors & Omissions Insurance Actually Cover?
E&O insurance is often described in general terms as "professional liability," but the actual coverage comes down to specific triggers. Here's what those are, and where the limits fall.
Read Article →How Money Transmitter Bond Amounts Are Calculated, State by State
No two states calculate MTL bond amounts the same way. Here's the difference between flat minimums and volume-based formulas, and how to plan for it as you scale.
Read Article →Cyber Liability Insurance vs. Tech E&O: What's the Difference and Do You Need Both?
Cyber liability and Tech E&O sound similar and often get bundled together, but they protect against different things. Here's how to tell which one, or both, your business needs.
Read Article →What Is a Money Transmitter License Bond? A Guide for MSBs and Fintechs
A money transmitter license bond is a non-negotiable part of getting licensed as a money services business in nearly every U.S. state. Here's what it is and how it works.
Read Article →Public vs. Private Construction Projects: When Do You Need a Contract Surety Bond?
Bonding requirements differ sharply between public and private construction work. Here's what contractors need to know before they bid on either.
Read Article →Common Reasons Contract Surety Bond Applications Get Denied (and How to Avoid Them)
A declined bond application can cost a contractor a project. Here are the most common underwriting red flags, and how to address them before you apply.
Read Article →How Contractors Can Qualify for Higher Surety Bond Credit Limits
Bonding capacity determines how large a project a contractor can pursue. Here's what underwriters actually look at, and how to grow your surety credit line over time.
Read Article →Bid Bonds vs. Performance Bonds vs. Payment Bonds: The Three-Bond Contract Surety Package
Bid, performance, and payment bonds each protect a different stage and party in a construction project. Here's how the three-bond contract surety package fits together.
Read Article →What Is a Contract Surety Bond? A Complete Guide for Contractors
Contract surety bonds are the backbone of the construction industry, guaranteeing that contractors complete projects as promised. Here's everything a contractor needs to know before bidding on the next job.
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