The Latest from Our Blog

Business Service Bond – Apply Now

The U.S. service sector is a growing industry and has expanded over the last decade.  A service industry includes any form of outsourcing, such as human resources, IT, leadership development, home cleaning services, in home personal care, etc.  If a company outsources, it is important that they protect themselves from any form of negligence or fraud. […]

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Four Myths about Surety Bonds

In the contracting world, there are some myths about surety bonds.  Do you really need one or is it just an added protection, for a costly price?  This leaves the contractor with a decision to make: avoid the project or work without a surety bond.   Below we dispel some of these myths: The first […]

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What kinds of surety bonds are there?

Surety bonds are a financial guarantee between three parties in a legally binding contract. These three parties are the obligee, the principal, and the surety. In essence, the surety guarantees payment of a specified maximum sum or compensation in case the obligee incurs any damages or loss caused by the actions (or a failure to […]

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What is an indemnity bond?

An indemnity bond assures the holder of the bond, that they will be duly compensated in case of a possible loss. This bond is an agreement that protects the lender from loss if the borrower defaults on a legally binding loan.  If the principal fails to fulfill the contractual obligations (agreed upon by the obligee […]

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The Benefits of Insurance Agent and Surety Bond Producer Relationships

When it comes to surety bonds, insurance agents can encounter several hurdles.  These can range from problems obtaining bonds, slow service or uncompetitive rates.  In order to remedy this, insurance agents have two options.  They can outsource their bonding business to another insurance company, with a sub-specialty in surety bonds, or develop a relationship with a surety bond […]

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