Why Release Financial Statements to Casualty Underwriters?

摘要

Many contractors are reluctant to release financials to casualty insurance carriers for underwriting review. Aside from credit worthiness, underwriters have many other considerations associated with contractors' fiscal health and story told through financial statements. Contractors emerging from the recession continue to face a multitude of challenges, including but not limited to increased volume, labor shortages, technical advances and legislative nuances. When unplanned for, these changes can negatively impact financial statements. Contractors are altering business plans as scarce resources are necessarily reallocated.