SURETY BONDS

Managing risks on construction projects are crucial to their success. A surety bond is a great safety net.
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ENHANCE PROFITABILITY

Build a Trusted Surety Partnership

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Our Surety team utilizes technical and consultative skills to improve the contractor/surety relationship and increase the contractor’s bond programs, which in turn enhances profitability. Just as we do with all our clients, we get to know your business, how you operate, and your financials. We counsel clients on how to approach the surety market and build a trusted partnership to ensure your needs are met.

We participate in contractor-related organizations including CFMA, AGC, ABC, WTBA, WUCA, and the Surety Association of Wisconsin so we can stay informed and educated on emerging trends in the construction industry.

CLICK HERE TO INSTANTLY ISSUE BONDS

What is a Surety Bond?

Surety is a very specialized line of insurance that is created whenever one party guarantees performance of an obligation by another party.

There are many different types of bonds:

Contract
Bonds

Bid Bonds - guarantees bid is submitted in good faith and contractor enters into contract at the price bid and provides the required performance and payment bonds.
Performance Bonds - guarantees performance of the work according to contract terms and conditions. It protects the owner from financial loss should the contractor fail to perform.
Payment Bonds - guarantees payment for labor and materials incorporated into the project by certain laborers, subcontractors, and suppliers.
Maintenance Bonds - guarantees workmanship or materials defects will be remedied within a specified time period.
Supply Bonds - guarantees that supplies will be delivered per terms and conditions of a purchase order.

Commercial Bonds

Notary Bonds – guarantees the notary will perform duties ethically and in adherence with the law. Refer to top of page for Instant Issue capabilities.
License & Permit Bonds - cover an array of guarantees including performance, maintenance, remittance of taxes and fees, and adherence to the laws, regulations, and ordinances related to the work covered by the license or permit.
Court and Fiduciary Bonds - guarantee that a person or organization will faithfully perform certain duties or demonstrate financial responsibility for another’s benefit until a final decision is rendered by the courts.

Fidelity
Bonds

ERISA Bonds - required by the U.S. Department of Labor to protect an employee benefit plan against losses caused by acts of fraud or dishonesty.
Employee Dishonesty Bonds - covers the company against loss caused due to employee dishonesty including but not limited to employee theft of money, securities, or other property of the employer.

Meet Our Team of Trustworthy,
Reliable Surety Experts

  • Pat McKenna
  • Jay Zahn

Pat has been with Hausmann Group since 2007, and oversees the Surety Department and the Construction Industry Group. He has been in the surety industry for more than 27 years, including 13 years with a top-3 national surety underwriting company. He leads with a focus on client relationships. By breaking down risk factors and demonstrating how they will be handled, he is able to help surety clients maximize individual job size. Pat also uses his expertise to help clients maintain a strong bond relationship during times of transition.

Pat has a BA in Business Administration from Marquette University, and an MBA from the University of Wisconsin-Whitewater. He is his children’s biggest fan and supports them as they compete athletically in high school and college. He enjoys his own athletic pursuits as well, as he is frequently out running or biking on the local trails. Pat also is a ticket holder for the Green Bay Packers and Marquette University basketball and loves spending the day watching games with family and friends.

Jay Zahn-1

jzahn@myhaus.com | 262-446-5943

Jay joined Hausmann Group in 2021 and brings 30+ years of bonding experience to the Surety team. He is dedicated to helping contractors navigate the bonding process so they can continuously grow and win. To Jay, nothing is more rewarding than providing a small startup contractor with a bond program and helping them build a roadmap to success.

He is active in several construction trade associations, particularly Associated Builders and Contractors of Wisconsin (ABC) where he’s participated in committees, sat on the board, and was elected chairman. In 2020, he was awarded the prestigious Wes Meilahn Award by ABC of Wisconsin as part of their Projects of Distinction Event. The award is bestowed on an ABC member who best exemplifies tenacity, understanding, love and service toward ABC of Wisconsin. Jay is also involved with Associated General Contractors of Wisconsin and Milwaukee (AGC), Construction Financial Management Association (CFMA) and Wisconsin Underground Contractors Association (WUCA), to name a few.

Jay has a Bachelor of Business Administration - Finance from the University of Wisconsin-Eau Claire. When he’s not working, he’s usually tackling household projects, watching a game, or hiking and biking with his family. Jay and his wife love to visit waterfalls, whether in Wisconsin or on road trips out of state.