Experts are predicting the total loss from Hurricane Sandy to from $30 billion to $50 billion with insured losses of $10 billion to $20 billion. Damage to homes, businesses and business interruption insurance will be the majority of the insured losses. A big portion of the non-insured loss will be damage to infrastructure and other non-insured public facilities.
Rebuilding the public infrastructure and facilities will require performance and payment bonding. While not to make light of the human cost of the storm; the storm will result in a much needed shot in the arm to the construction industry in the affected regions.
If a contractor wants to take advantage of the coming influx in public works projects as a result of the storm, securing a bond line is a good place to start. Hire a surety bond agent, start getting your financial information together, and get pre-approved for the surety bond line. That way, when the post Sandy repair work starts to be released you will be ready to pursue it.