The bonding industry in Canada had its worst year ever in 2018, with the industry, as a whole, incurring more in claims than the revenue they took in. While the losses in 2018 were, to a large degree, effected by two big contractor defaults, frequency of claims is on the rise, and the trend in to 2019 has continued.
Attached is a chart and write-up that Petrela Winter & Associates has published on the losses for the surety bonding industry in 2018.