HB 2922 (2023)
Bond Amount Increase FAQ
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The bond requirement for entities licensed with CCB will increase on January 1, 2024. Here's what you need to know.
Why are the minimum bond amounts increasing?
The bond amounts were increased by the 2023 Oregon Legislature – House Bill 2922 (link to bill:
HB2922 (oregonlegislature.gov)
How much is the minimum bond amount increasing?
The bond amount will increase by $5,000 for each CCB endorsement type. A table at the bottom of this FAQ shows the new bond requirement for each endorsement.
How do I comply with the bond increase?
Many contractors will not need to take any action to comply. CCB has reached out to the surety (bond) companies to alert them to this change. Many surety companies have indicated they plan to update the bond amount for their clients automatically and will likely alert contractors separately.
Some contractors will need to take action to increase their bond if their surety company does not update the bond amount automatically. Watch for communications from your surety company, and if you do not receive any information about this increase, contact your surety company directly.
Which surety companies have provided the CCB with automatic increases effective January 1, 2024?
- Allegheny Casualty Company
- American Alternative Insurance Corp (Munich Reinsurance America)
- American Contractors Indemnity Company (ACIC) & U.S. Specialty (USSIC)
- American Modern Homes Insurance Company (Munich Reinsurance America)
- American States Insurance Company
- Atlantic Specialty Insurance Company
- Argonaut Insurance Company
- Capitol Indemnity Corporation (NAIC 10472)
- Cincinnati Life Insurance Company (The)
- Colonial Surety Company
- Contractors Bonding and Insurance Company (CBIC)
- Developers Surety and Indemnity Company (AmTrust Surety)
- Everest Reinsurance Company
- Federal Insurance Company
- Federated Mutual Insurance Company
- Federated Rural Electric Insurance Exchange
- Fidelity & Deposit Company of Maryland
- Financial Pacific Insurance Company
- First National Insurance Company
- Great Midwest Insurance Company
- Guarantee Company of North America USA (The)
- Hanover Insurance Company (The)
- Harco National Insurance Company (IAT Insurance Group)
- Hudson Insurance Company
- Indemnity Insurance Company of North America
- Indemnity Company of California
| - Insurance Company of North America
- Ironshore Indemnity Inc
- Jet Insurance Company
- Lexon Insurance Company (Sompo)
- Liberty Mutual Insurance Company
- Markel Insurance Company
- Merchants Bonding Company
- Nationwide Mutual Insurance Company
- National Indemnity Company
- NGM Insurance Company
- North River Insurance Company (Crum & Forster)
- Ohio Casualty Insurance Company
- Old Republic Surety Company (OR Surety)
- Pacific Indemnity Company
- Philadelphia Indemnity Insurance Company
- Platte River Insurance Company (NAIC 18619)
- RLI Insurance Company
- Safeco Insurance Company of America
- Suretec Insurance Company
- Swiss Re Corporate Solutions Premiere Insurance Corporation (formerly Washington International Insurance Company)
- Swiss Re Corporate Solutions America Insurance Corporation
- Travelers Casualty & Surety Company of America
- United Fire & Casualty Company
- Vigilant Insurance Company
- Wesco Insurance Company
- West Bend Mutual Insurance Company
- Westchester Fire Insurance Company
- Westport Insurance Corporation
- Western Surety Company (CNA Surety)
- Western National Mutual Insurance Company & Western National Assurance Co
- Zurich American Insurance Company
|
When does this change take place?
The increase will go into effect on
January 1, 2024.
If my surety company isn't updating my bond automatically, how shall I get the new bond certificate to the CCB?
Contractors or surety companies may submit an individual increase rider to increase the bond amount of an existing bond on file with the CCB. These can be submitted to the fax, email or agency address.
Licensing Call Center: 503-378-4621
Address: Construction Contractors Board, P.O. 14140, Salem, Oregon 97309
Fax: 503-373-2155
Email: ccb.info@ccb.oregon.gov
What will happen if the CCB does not receive evidence of my bond increase by the deadline?
CCB will reach out to contractors that are out of compliance after January 1, 2024. These contractors will be given a deadline and instructions for compliance.
I have a bond that is higher than the required minimum, and my bond is already in compliance. Will my bond need to be increased?
If your bond is already in compliance with the new amounts, your bond will not need to increase. You do not need to take any action.
Will this change affect my insurance premium or the minimum required for my insurance?
No. This does not affect your general liability insurance.
Why are the minimum bond amounts increasing?
House Bill 2922 increased all minimum bond amounts required for contractors and other individuals licensed by the Oregon CCB by $5,000. You can review the new law here:
HB2922 (oregonlegislature.gov)
|
Bond Amount By Endorsement Type | | |
|
Endorsement Type |
Original Bond Amount |
New Bond Amount |
| Residential General Contractor | $20,000 | $25,000 |
| Residential Specialty Contractor | $15,000 | $20,000 |
| Residential Limited Contractor | $10,000 | $15,000 |
| Residential Developer | $20,000 | $25,000 |
| Residential Locksmith | $10,000 | $15,000 |
| Home Inspector | $10,000 | $15,000 |
| Home Services Contractor | $10,000 | $15,000 |
| Home Energy Performance Score Contractor | $10,000 | $15,000 |
| Residential Restoration Contractor | $10,000 | $15,000 |
| Commercial General Contractor Level 1 | $75,000 | $80,000 |
| Commercial Specialty Contractor Level 1 | $50,000 | $55,000 |
| Commercial General Contractor Level 2 | $20,000 | $25,000 |
| Commercial Specialty Contractor Level 2 | $20,000 | $25,000 |
| Commercial Developer | $20,000 | $25,000 |
Have questions for CCB? You may reach us at:
Licensing Call Center: 503-378-4621
Email: ccb.info@ccb.oregon.gov
Preguntas frecuentes sobre el aumento del monto de las fianzas contractuales
Los requisitos de las fianzas contractuales para las entidades con licencia de CCB aumentará el 1 de enero de 2024. A continuación, le proporcionamos lo que necesita saber.
¿Por qué está aumentando el monto mínimo de las fianzas contractuales?
El monto de las fianzas contractuales fue aumentado por la Legislatura de Oregón de 2023 – Proyecto de Ley 2922 de la Cámara (enlace al proyecto de ley:
HB2922 (oregonlegislature.gov)
¿Cuánto estará aumentando el monto mínimo de las fianzas contractuales?
El monto de las fianzas contractuales aumentará en $5,000 por cada tipo de endoso de CCB. Una tabla al final de estas preguntas frecuentes muestra los nuevos requisitos de las fianzas contractuales para cada endoso.
¿Cómo cumplo con el aumento del monto de las fianzas contractuales?
Muchos contratistas no necesitarán tomar ninguna medida para cumplir con los requisitos. CCB se ha comunicado con las compañías de fianzas contractuales para informarles sobre el cambio. Muchas compañías de fianzas contractuales han indicado que planifican actualizar el monto de las fianzas contractuales para sus clientes de manera automática y es probable que notifiquen a los contratistas por separado.
Algunos contratistas tendrán que tomar medidas para aumentar el monto de las fianzas contractuales si su compañía de fianzas contractuales no actualiza el monto de manera automática. Manténgase atento a las comunicaciones de su compañía de fianzas contractuales y si no recibe ninguna información sobre el aumento, por favor comuníquese directamente con su compañía de fianzas contractuales.
¿Qué compañías de fianzas contractuales han indicado que actualizarán los montos con CCB de manera automática?
- Allegheny Casualty Company
- American Alternative Insurance Corp (Munich Reinsurance America)
- American Contractors Indemnity Company (ACIC) & U.S. Specialty (USSIC)
- American Modern Homes Insurance Company (Munich Reinsurance America)
- American States Insurance Company
- Atlantic Specialty Insurance Company
- Argonaut Insurance Company
- Berkeley Insurance Company
- Capitol Indemnity Corporation (NAIC 10472)
- Cincinnati Life Insurance Company (The)
- Colonial Surety Company
- Continental Casualty Company
- Continental Insurance Company (The)
- Contractors Bonding and Insurance Company (CBIC)
- Developers Surety and Indemnity Company (AmTrust Surety)
- Employers Mutual Insurance Company
- Everest Reinsurance Company
- Federal Insurance Company
- Federated Mutual Insurance Company
- Federated Rural Electric Insurance Exchange
- Fidelity & Deposit Company of Maryland
- Financial Pacific Insurance Company
- First National Insurance Company
- Great Midwest Insurance Company
- Guarantee Company of North America USA (The)
- Hanover Insurance Company (The)
- Harco National Insurance Company (IAT Insurance Group)
- Hudson Insurance Company
- Indemnity Insurance Company of North America
| - Indemnity Company of California
- Insurance Company of North America
- Ironshore Indemnity Inc
- Jet Insurance Company
- Lexon Insurance Company (Sompo)
- Liberty Mutual Insurance Company
- Markel Insurance Company
- Merchants Bonding Company
- Nationwide Mutual Insurance Company
- National Indemnity Company
- NGM Insurance Company
- North River Insurance Company (Crum & Forster)
- Ohio Casualty Insurance Company
- Old Republic Surety Company (OR Surety)
- Pacific Indemnity Company
- Philadelphia Indemnity Insurance Company
- Platte River Insurance Company (NAIC 18619)
- RLI Insurance Company
- Safeco Insurance Company of America
- Suretec Insurance Company
- Swiss Re Corporate Solutions Premiere Insurance Corporation (formerly Washington International Insurance Company)
- Swiss Re Corporate Solutions America Insurance Corporation
- Travelers Casualty & Surety Company of America
- Trisura Insurance Company
- United Fire & Casualty Company
- Vigilant Insurance Company
- Wesco Insurance Company
- West Bend Mutual Insurance Company
- Westchester Fire Insurance Company
- Westport Insurance Corporation
- Western Surety Company (CNA Surety)
- Western National Mutual Insurance Company & Western National Assurance Co
- XL Specialty Insurance
- Zurich American Insurance Company
|
¿Cuándo ocurrirá el cambio?
El aumento entrará en vigor el
1 de enero de 2024.
Si mi compañía de fianzas contractuales no actualiza mi fianza contractual de manera automática, ¿cómo debo obtener el nuevo certificado de fianzas contractuales para CCB?
Los contratistas o compañías de fianzas contractuales pueden presentar una cláusula adicional de aumento individual para aumentar el monto de la fianza contractual de una fianza existente en el archivo de CCB. Estos se pueden enviar a través de fax, correo electrónico o a la dirección de la agencia.
Centro de Llamadas para Licencias: 503-378-4621
Dirección: Junta de Contratistas de Construcción, P.O. 14140, Salem, Oregon 97309
Fax: 503-373-2155
Correo electrónico: ccb.info@ccb.oregon.gov
¿Qué sucederá si CCB no recibe evidencia del aumento de mi fianza contractual antes de la fecha límite?
CCB se comunicará con los contratistas que no estén cumpliendo con los requisitos después del 1 de enero de 2024. A estos contratistas se les dará una fecha límite e instrucciones para cumplir con los requisitos.
Tengo una fianza contractual que es más alta que el mínimo requerido y mi fianza contractual ya está cumpliendo con los requisitos. ¿Será necesario aumentar mi fianza contractual?
Si su fianza contractual ya está cumpliendo con los requisitos de los nuevos montos, no tendrá que aumentar su fianza contractual. No es necesario que realice ninguna acción.
¿Afectará este cambio a la prima de mi seguro o al mínimo requerido para mi seguro?
No. Esto no afecta a su seguro de responsabilidad general.
¿Por qué aumentan los montos mínimos de las fianzas contractuales?
El Proyecto de Ley 2922 de la Cámara de Representantes aumentó en $5,000 todos los montos mínimos de fianza contractual requeridos para contratistas y otras personas con licencia a través de CCB de Oregón. Puede revisar la nueva ley en el siguiente enlace:
HB2922 (oregonlegislature.gov)
|
Monto de la fianza por tipo de endoso | | |
|
Tipo de endoso |
Monto de la fianza original |
Nuevo monto de la fianza |
| Contratista general residencial | $20,000 | $25,000 |
| Contratista especializado residencial | $15,000 | $20,000 |
| Contratista limitado residencial | $10,000 | $15,000 |
| Desarrollador residencial | $20,000 | $25,000 |
| Cerrajero residencial | $10,000 | $15,000 |
| Inspector de viviendas | $10,000 | $15,000 |
| Contratista de servicios para el hogar | $10,000 | $15,000 |
| Contratista de puntuación de rendimiento energético del hogar | $10,000 | $15,000 |
| Contratista de restauración residencial | $10,000 | $15,000 |
| Contratista general comercial nivel 1 | $75,000 | $80,000 |
| Contratista especializado comercial nivel 1 | $50,000 | $55,000 |
| Contratista general comercial nivel 2 | $20,000 | $25,000 |
| Contratista especializado comercial nivel 2 | $20,000 | $25,000 |
| Desarrollador comercial | $20,000 | $25,000 |
¿Tiene preguntas para CCB? Puede comunicarse con nosotros a través de las siguientes opciones:
Centro de Llamadas para Licencias: 503-378-4621
Correo electrónico: ccb.info@ccb.oregon.gov