---
title: Insurance Insights | Damien Strohmier
description: I'm a tenured Certified Public Accountant turned Surety Consultant that uses my 16 years' public accounting experience in the construction industry to partner with my clients and best advocate for them for all their bonding needs.
---
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# DSP Insurance Insights
Get insights on commercial insurance, property and casualty insurance, workplace safety, and employee benefits. Our blog articles deliver expert tips, industry updates, and risk management strategies to help businesses protect their people and profits.
## Damien Strohmier
I'm a tenured Certified Public Accountant turned Surety Consultant that uses my 16 years' public accounting experience in the construction industry to partner with my clients and best advocate for them for all their bonding needs.
Find me on:
## Recent Posts
[](https://blog.dspins.com/unlocking-greater-bonding-capacity-how-the-sba-surety-bond-guarantee-program-can-bridge-the-gap)
## [Unlocking Greater Bonding Capacity: How the SBA Surety Bond Guarantee Program Can Bridge the Gap](https://blog.dspins.com/unlocking-greater-bonding-capacity-how-the-sba-surety-bond-guarantee-program-can-bridge-the-gap)
Jun 24, 2026, 1:12:16 PM / by [Damien Strohmier](https://blog.dspins.com/author/damien-strohmier) posted in [Surety](https://blog.dspins.com/topic/surety)
[0 Comments](https://blog.dspins.com/unlocking-greater-bonding-capacity-how-the-sba-surety-bond-guarantee-program-can-bridge-the-gap#comments-listing)
For a growing construction or service contractor, few things are more frustrating than watching a contract opportunity pass by simply because the bonding capacity isn't there yet. The work is there. The manpower is there. The track record is building. But the balance sheet hasn't caught up, and the traditional surety market is not in the business of waiting.
Understanding why that gap exists, and how to bridge it strategically, is one of the most valuable conversations a growing contractor can have.
[Read More](https://blog.dspins.com/unlocking-greater-bonding-capacity-how-the-sba-surety-bond-guarantee-program-can-bridge-the-gap)
[](https://blog.dspins.com/subcontractor-prequalification-is-more-than-risk-management)
## [Subcontractor Prequalification Is More Than Risk Management](https://blog.dspins.com/subcontractor-prequalification-is-more-than-risk-management)
Mar 31, 2026, 9:29:31 AM / by [Damien Strohmier](https://blog.dspins.com/author/damien-strohmier) posted in [Surety](https://blog.dspins.com/topic/surety)
[0 Comments](https://blog.dspins.com/subcontractor-prequalification-is-more-than-risk-management#comments-listing)
A general contractor loses a subcontractor mid-project. Maybe they ran out of cash. Maybe they took on too much work and could not deliver. Maybe the signs were there for months and nobody was watching closely enough.
The result is the same regardless of the cause: delays, cost overruns, a damaged owner relationship, and a scramble to find someone who can pick up the pieces.
Here is the uncomfortable truth. In most of those situations, the outcome was preventable.
[Read More](https://blog.dspins.com/subcontractor-prequalification-is-more-than-risk-management)
[](https://blog.dspins.com/tightening-surety-underwriting-amid-a-growing-market)
## [Tightening Surety Underwriting Amid a Growing Market](https://blog.dspins.com/tightening-surety-underwriting-amid-a-growing-market)
Feb 4, 2026, 3:30:04 PM / by [Damien Strohmier](https://blog.dspins.com/author/damien-strohmier) posted in [Surety](https://blog.dspins.com/topic/surety)
[0 Comments](https://blog.dspins.com/tightening-surety-underwriting-amid-a-growing-market#comments-listing)
The U.S. surety market hasexperienced robust premium growth in recent years, driven by strong demand forcontract bonds tied to large-scale infrastructure spending and generalincreases in contract sizes stemming from inflationary cost pressures. However,against this backdrop of growth, surety loss ratios have trended upward,prompting a noticeable shift in underwriting posture across the market.
[Read More](https://blog.dspins.com/tightening-surety-underwriting-amid-a-growing-market)
[](https://blog.dspins.com/understanding-and-navigating-maintenance-bonds)
## [Understanding and Navigating Maintenance Bonds](https://blog.dspins.com/understanding-and-navigating-maintenance-bonds)
Nov 13, 2025, 9:40:58 AM / by [Damien Strohmier](https://blog.dspins.com/author/damien-strohmier) posted in [Surety](https://blog.dspins.com/topic/surety)
[0 Comments](https://blog.dspins.com/understanding-and-navigating-maintenance-bonds#comments-listing)
As construction projects grow more complex and owners demand longer warranty coverage, maintenance bonds are playing an increasingly important role in contract negotiations. Contractors who understand how these bonds work and how to manage their impact on surety capacity and cost are better positioned to protect their business and maintain strong relationships with both owners and sureties.
[Read More](https://blog.dspins.com/understanding-and-navigating-maintenance-bonds)
[](https://blog.dspins.com/wip-and-cc-schedules-matter-for-surety-support)
## [WIP and CC Schedules Matter for Surety Support](https://blog.dspins.com/wip-and-cc-schedules-matter-for-surety-support)
Sep 24, 2025, 12:34:41 PM / by [Damien Strohmier](https://blog.dspins.com/author/damien-strohmier) posted in [Surety](https://blog.dspins.com/topic/surety)
[0 Comments](https://blog.dspins.com/wip-and-cc-schedules-matter-for-surety-support#comments-listing)
In the construction industry, accurate financial reporting is more than a compliance requirement, it is the foundation of trust with surety partners. Among the most critical components of contractor financials are the Work in Process (WIP) schedule and the Completed Contracts (CC) schedule. These schedules do more than just list projects; they provide visibility into the accuracy of job costing, estimating practices, and overall financial health of the business.
[Read More](https://blog.dspins.com/wip-and-cc-schedules-matter-for-surety-support)
[](https://blog.dspins.com/selling-surety-highlighting-the-qualitative-aspects-to-win-larger-bonded-jobs)
## [Selling Surety: Highlighting the Qualitative Aspects to WIN Larger Bonded Jobs](https://blog.dspins.com/selling-surety-highlighting-the-qualitative-aspects-to-win-larger-bonded-jobs)
Jul 17, 2025, 11:22:19 AM / by [Damien Strohmier](https://blog.dspins.com/author/damien-strohmier) posted in [Surety](https://blog.dspins.com/topic/surety)
[0 Comments](https://blog.dspins.com/selling-surety-highlighting-the-qualitative-aspects-to-win-larger-bonded-jobs#comments-listing)
In the competitive world of construction, government contracting, and other project-based industries, winning larger bonded jobs requires firms demonstrate both the capacity to perform and the qualitative strengths to deliver a project to the owner.
One of the most effective tools for showcasing these strengths is a well-crafted capability statement. This document is a strategic tool that communicates your core competencies, past accomplishments, innovative approach, quality of personnel, and unique value proposition.
The capability statement is also a great way to highlight your firm’s strengths to a surety to maintain support on bonded jobs. Below is a brief rundown of the critical aspects that should be included in a capability statement that would be reviewed with your surety:
**Core Competencies: Clarifying What You Do Best**
Your capability statement should clearly define your core services or trades. A contractor who can precisely describe its scope, whether it’s site work, vertical construction, electrical, or specialty installations, instills confidence in project owners and sureties alike. They know exactly what you bring to the table and can evaluate your fit for complex scopes of work.
Surety underwriters pay close attention to this section: it shows that you understand your business and are focused on the types of work you can successfully deliver at scale.
**Past Accomplishments: Proving Performance History**
Qualitative assessments often start with your track record. Highlighting key projects, especially those with similar size, scope, or complexity, demonstrates your ability to perform on larger, bonded jobs.
A strong capability statement will include select projects that showcase not just completion but success: on-time delivery, budget management, and safety records. These accomplishments help sureties justify higher bonding limits and reassure owners that you can handle larger responsibilities.
**Innovative Approach: Differentiating Your Firm**
Innovation isn’t only for technology companies. Construction firms should showcase how they deliver projects better. Maybe it’s through lean construction practices, advanced scheduling software, prefabrication capabilities, or sustainable building techniques.
Let your surety know how you approach problems creatively to deliver superior outcomes. This qualitative measure is critical for public owners and primes who want partners that add value, not just fulfill specs.
**Quality of Personnel: Building Confidence in Your Team**
Larger projects introduce greater risks, so sureties and owners want to know about your leadership, project management staff, and field supervision. Featuring credentials, licenses, certifications, and years of experience signals you have the bench strength to execute.
Highlighting your personnel quality demonstrates that you aren’t just a small, informal operation but a professional organization prepared to scale.
**Unique Value Proposition: Answering “Why You?”**
Just as you have sold a job to an owner, your surety should understand why your firm is the best fit. It might be your safety record, your specialty experience, local knowledge, cost efficiency, or a combination of these. It’s the compelling reason you’ll deliver superior value, manage risk effectively, and complete the job successfully.
**Why This Matters for Bonded Work**
Sureties don’t just underwrite your financial strength, they evaluate the whole picture, including these qualitative factors. A firm with a strong balance sheet but no clear demonstration of capability, experience, or differentiation may struggle to secure increased bonding capacity.
On the other hand, a business that can *tell its story well,* showing financial stability *and* qualitative strengths, has a better shot at growing its bonding program. That, in turn, enables you to bid on larger, more lucrative projects.
Take the time and invest in how you communicate these facets not just to your owners but also your surety.
[Read More](https://blog.dspins.com/selling-surety-highlighting-the-qualitative-aspects-to-win-larger-bonded-jobs)
[](https://blog.dspins.com/navigating-bonding-strategies-in-uncertain-markets)
## [Navigating Bonding Strategies in Uncertain Markets](https://blog.dspins.com/navigating-bonding-strategies-in-uncertain-markets)
Mar 31, 2025, 4:24:01 PM / by [Damien Strohmier](https://blog.dspins.com/author/damien-strohmier) posted in [Surety](https://blog.dspins.com/topic/surety)
[0 Comments](https://blog.dspins.com/navigating-bonding-strategies-in-uncertain-markets#comments-listing)
Soft landing… We’ve likely all heard these words with regard to the economy and the monetary policies employed to combat inflation while avoiding a “harder” recession. Bonding strategies in uncertain markets are crucial during these times. One of those economic levers being used is interest rates. The Federal Reserve is now moving carefully as indicated by the rate hold in September, but because jobs and consumer spending data continue to be strong, further adjustments may be on the docket.
[Read More](https://blog.dspins.com/navigating-bonding-strategies-in-uncertain-markets)
[](https://blog.dspins.com/irs-employee-retention-credits-audits-and-risk-to-your-claim)
## [IRS Employee Retention Credits Audits and Risk to Your Claim](https://blog.dspins.com/irs-employee-retention-credits-audits-and-risk-to-your-claim)
Mar 31, 2025, 4:20:22 PM / by [Damien Strohmier](https://blog.dspins.com/author/damien-strohmier) posted in [Surety](https://blog.dspins.com/topic/surety)
[0 Comments](https://blog.dspins.com/irs-employee-retention-credits-audits-and-risk-to-your-claim#comments-listing)
Employee Retention Credit (ERC) claims by employers are once again being processed by the IRS after a moratorium period for any credits filed after September 14, 2023. During this period, the IRS performed a large study on a group of ERC claims to help determine the next steps on remaining claims and essentially develop an audit strategy for filed claims and ERC audit risks.
[Read More](https://blog.dspins.com/irs-employee-retention-credits-audits-and-risk-to-your-claim)
[](https://blog.dspins.com/utilizing-the-sba-surety-bond-program)
## [Utilizing the SBA Surety Bond Program](https://blog.dspins.com/utilizing-the-sba-surety-bond-program)
Mar 31, 2025, 4:18:54 PM / by [Damien Strohmier](https://blog.dspins.com/author/damien-strohmier) posted in [Surety](https://blog.dspins.com/topic/surety)
[0 Comments](https://blog.dspins.com/utilizing-the-sba-surety-bond-program#comments-listing)
With bonded work on the horizon for a new or growing company, owners may be wondering how they can get started and what programs are available for these initial bond needs, especially regarding surety bonds for contractors.
[Read More](https://blog.dspins.com/utilizing-the-sba-surety-bond-program)
[](https://blog.dspins.com/partnering-with-a-cpa-firm-and-bank-for-construction-success)
## [Partnering with a CPA Firm and Bank for Construction Success](https://blog.dspins.com/partnering-with-a-cpa-firm-and-bank-for-construction-success)
Mar 31, 2025, 4:17:33 PM / by [Damien Strohmier](https://blog.dspins.com/author/damien-strohmier) posted in [Surety](https://blog.dspins.com/topic/surety)
[0 Comments](https://blog.dspins.com/partnering-with-a-cpa-firm-and-bank-for-construction-success#comments-listing)
In the world of construction, navigating the financial landscape requires more than just basic accounting and banking services. Construction firms face unique challenges and opportunities, making it crucial to partner with a both a CPA firm and bank with significant construction experience. These specialized service providers understand the nuances of construction accounting and financial reporting, the allowable income recognition methods for small contractors, and the industry’s volatile nature. Here’s why these partnerships are essential for your firm’s success.
[Read More](https://blog.dspins.com/partnering-with-a-cpa-firm-and-bank-for-construction-success)
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## Damien Strohmier
I'm a tenured Certified Public Accountant turned Surety Consultant that uses my 16 years' public accounting experience in the construction industry to partner with my clients and best advocate for them for all their bonding needs.
[Follow me on LinkedIn](https://www.linkedin.com/in/damien-strohmier/)
[Damien Strohmier](https://blog.dspins.com/author/damien-strohmier) [Surety](https://blog.dspins.com/tag/surety) 4 Min
## [Unlocking Greater Bonding Capacity: How the SBA Surety Bond Guarantee Program Can Bridge the Gap](https://blog.dspins.com/unlocking-greater-bonding-capacity-how-the-sba-surety-bond-guarantee-program-can-bridge-the-gap)
#### [Unlocking Greater Bonding Capacity: How the SBA Surety Bond Guarantee Program Can Bridge the Gap](https://blog.dspins.com/unlocking-greater-bonding-capacity-how-the-sba-surety-bond-guarantee-program-can-bridge-the-gap)
For a growing construction or service contractor, few things are more frustrating than watching a contract opportunity pass by simply because the bonding capacity isn't there yet. The work is there. The manpower is there. The track record is building. But the balance sheet hasn't caught up, and the…
[Read More](https://blog.dspins.com/unlocking-greater-bonding-capacity-how-the-sba-surety-bond-guarantee-program-can-bridge-the-gap)
[Damien Strohmier](https://blog.dspins.com/author/damien-strohmier) [Surety](https://blog.dspins.com/tag/surety) 2 Min
#### [Subcontractor Prequalification Is More Than Risk Management](https://blog.dspins.com/subcontractor-prequalification-is-more-than-risk-management)
A general contractor loses a subcontractor mid-project. Maybe they ran out of cash. Maybe they took on too much work and could not deliver. Maybe the…
[Read More](https://blog.dspins.com/subcontractor-prequalification-is-more-than-risk-management)
[Damien Strohmier](https://blog.dspins.com/author/damien-strohmier) [Surety](https://blog.dspins.com/tag/surety) 1 Min
#### [Tightening Surety Underwriting Amid a Growing Market](https://blog.dspins.com/tightening-surety-underwriting-amid-a-growing-market)
The U.S. surety market hasexperienced robust premium growth in recent years, driven by strong demand forcontract bonds tied to large-scale…
[Read More](https://blog.dspins.com/tightening-surety-underwriting-amid-a-growing-market)
[Damien Strohmier](https://blog.dspins.com/author/damien-strohmier) [Surety](https://blog.dspins.com/tag/surety) 1 Min
#### [Understanding and Navigating Maintenance Bonds](https://blog.dspins.com/understanding-and-navigating-maintenance-bonds)
As construction projects grow more complex and owners demand longer warranty coverage, maintenance bonds are playing an increasingly important role…
[Read More](https://blog.dspins.com/understanding-and-navigating-maintenance-bonds)
[Damien Strohmier](https://blog.dspins.com/author/damien-strohmier) [Surety](https://blog.dspins.com/tag/surety) 1 Min
#### [WIP and CC Schedules Matter for Surety Support](https://blog.dspins.com/wip-and-cc-schedules-matter-for-surety-support)
In the construction industry, accurate financial reporting is more than a compliance requirement, it is the foundation of trust with surety partners.…
[Read More](https://blog.dspins.com/wip-and-cc-schedules-matter-for-surety-support)
[Damien Strohmier](https://blog.dspins.com/author/damien-strohmier) [Surety](https://blog.dspins.com/tag/surety) 2 Min
#### [Selling Surety: Highlighting the Qualitative Aspects to WIN Larger Bonded Jobs](https://blog.dspins.com/selling-surety-highlighting-the-qualitative-aspects-to-win-larger-bonded-jobs)
In the competitive world of construction, government contracting, and other project-based industries, winning larger bonded jobs requires firms…
[Read More](https://blog.dspins.com/selling-surety-highlighting-the-qualitative-aspects-to-win-larger-bonded-jobs)
[Damien Strohmier](https://blog.dspins.com/author/damien-strohmier) [Surety](https://blog.dspins.com/tag/surety) 2 Min
#### [Navigating Bonding Strategies in Uncertain Markets](https://blog.dspins.com/navigating-bonding-strategies-in-uncertain-markets)
Soft landing… We’ve likely all heard these words with regard to the economy and the monetary policies employed to combat inflation while avoiding a…
[Read More](https://blog.dspins.com/navigating-bonding-strategies-in-uncertain-markets)
[Damien Strohmier](https://blog.dspins.com/author/damien-strohmier) [Surety](https://blog.dspins.com/tag/surety) 2 Min
#### [IRS Employee Retention Credits Audits and Risk to Your Claim](https://blog.dspins.com/irs-employee-retention-credits-audits-and-risk-to-your-claim)
Employee Retention Credit (ERC) claims by employers are once again being processed by the IRS after a moratorium period for any credits filed after…
[Read More](https://blog.dspins.com/irs-employee-retention-credits-audits-and-risk-to-your-claim)
[Damien Strohmier](https://blog.dspins.com/author/damien-strohmier) [Surety](https://blog.dspins.com/tag/surety) 2 Min
#### [Utilizing the SBA Surety Bond Program](https://blog.dspins.com/utilizing-the-sba-surety-bond-program)
With bonded work on the horizon for a new or growing company, owners may be wondering how they can get started and what programs are available for…
[Read More](https://blog.dspins.com/utilizing-the-sba-surety-bond-program)
[Damien Strohmier](https://blog.dspins.com/author/damien-strohmier) [Surety](https://blog.dspins.com/tag/surety) 2 Min
#### [Partnering with a CPA Firm and Bank for Construction Success](https://blog.dspins.com/partnering-with-a-cpa-firm-and-bank-for-construction-success)
In the world of construction, navigating the financial landscape requires more than just basic accounting and banking services. Construction firms…
[Read More](https://blog.dspins.com/partnering-with-a-cpa-firm-and-bank-for-construction-success)
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