Arizona’s construction industry is booming, but with growth comes risk. From changing material costs to labor and financing shifts, today’s contractors face rising challenges. In his latest article for In Business Magazine, Tyler Graves, Bond Director at Marsh McLennan Agency’s Scottsdale office, explains how surety bonds can help safeguard projects, ensuring stability for contractors, project owners and investors.
Tyler explores different types of surety bonds—like payment, bid and performance bonds—and how they protect against contractor defaults, delays and financial uncertainty. He also breaks down why these bonds are especially important in 2025 as the construction market navigates changing interest rates, workforce fluctuations and evolving cost trends.
"Surety bonds are key to navigating common construction risks and today’s complex market nuances," Tyler states.
Read the full article in In Business Magazine.
