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Surety Insurance News and Trends

Staying up to date on surety insurance news and trends can prove to be a full time job but, when your company has to have the insurance, it may be necessary to stay current on the issues. Although some surety insurance agencies will alert you when things change, it is a good idea to get information on your own so you can have unbiased information to base your decision about coverage on.

Surety Insurance Basics

Surety insurance gives a business credibility by showing the client you are able to meet your obligations. Surety insurance or bonds can be written for almost any purpose, including financial purposes.

Surety Insurance Key Terms

There are various degrees to which surety insurance may be used to protect businesses. In the most popular and common form of surety insurance, the insurance works to prove that businesses are able to meet their obligations.

Surety Insurance | Marsh

Surety is a credit instrument known as a bond guarantee. It is not insurance. A firm called a "surety company" guarantees that a business corporation called a ...

Surety bond - Wikipedia, the free encyclopedia

It has been suggested that this article be merged with Surety. ... Thus, the surety on a bond is usually an insurance company whose solvency is verified by ...

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Surety and Fidelity Bonds – State Farm® - State Farm Insurance

Fidelity bonds and surety bonds from State Farm can provide your growing business with the protection you need. Click here to learn more and find an agent .

Surety - Insurance from AIG in the US

Surety. For Businesses / Insurance / Products and Services. Contact Us ... Our surety bonds protect companies against project risks by providing funds in the ...

Surety Bond Insurance - SuretyBonds.com

But it's important to know that surety bonds and insurance are two different types of tools. Because the terms “surety bond” and “surety insurance” are often ...

What is a Surety Bond | Surety Bonds | Travelers Insurance

Access Travelers Information Regarding The Concept And Uses Of A Surety Bond.

Surety Bonds | Bond Insurance | Travelers Insurance

Whether you're an individual seeking a particular type of bond, or run a business with a variety of bonding requirements, Travelers can provide a surety program ...

Surety Insurance - Commercial & Contract Bond Coverage - XL Group

We work hard to build deeper relationships. We get to know your business. Understand your needs better than anyone. When you come to XL Group for a surety ...

Surety Definition | Investopedia

The guarantee of the debts of one party by another. A surety is the organization or person that assumes the responsibility of paying the debt in case the debtor ...

Surety Insurance


In the most common type of surety insurance, a surety insurance company guarantees that a contract gets completed. As the underwriter, a surety insurance company examines the contractor's credit history, financial assets, equipment, experience, work history and management skills, then determines whether the contractor is a good risk for a particular bond. If a contractor defaults on the surety bond, the surety bond provider finds another contractor to finish the work.

Though a business might call itself a surety life insurance company, realize that surety is typically just part of the name. That type of business sells normal types of life insurance, rather than bonding someone’s life.

There are many reasons to buy surety insurance. Here are some of the most common:

1. Surety insurance guarantees your project's work schedule.

2. Surety insurance keeps project payments on a schedule.

3. Surety insurance protects against faulty craftsmanship.

Look for a reputable surety insurance company

Look for licensed surety insurance companies that have been in business for a number of years. Established companies should have wide range of surety bonds available. The company should also be in good operational standing in a number of states.
United States Department of the Treasury maintains a list of qualified surety insurance agencies.

Choose the type of surety insurance you need for your specific task

There are surety insurance companies for every imaginable type of surety bond. As long as you know what kind of surety bonding you need, you can soon get your bonds ready so you can go to work on your project.

Get a surety insurance company to underwrite you

Once you apply for surety insurance, you must wait for the surety insurance company to carry out the underwriting process. The surety insurance company has to determine if you are in good financial standing. They must also decide if you have the business acumen needed to receive a bond. The underwriting process examines your business and financial statements, your credit history and other factors. Both your business and personal finances are subject to inspection.
  • Contact your state's Department of Insurance to get the most reliable information on surety insurance companies that operate your state. Since all surety bond companies must have a license to operate in your state, the Department of Insurance has all of the pertinent information to answer any questions you might have.