Bonds

Bonds are agreements pledging surety for financial loss caused to another by the act or default of a third person or by some contingency over which the third person may have no control. In the course of your business operations, you may be required to purcahse many different types of bonds. In the event of a loss, the Insured is required to reimburse the bonding company. We are able to write many types of bonds, including the following:

ERISA: Required for benefit plans such as 401(k)s and Pensions.

Notary Public: Required when performing Notary Public duties.

License and Permit: Bonds required by a regulatory agency to obtain a permit. An example would be a Liquor bond for a bar.

Nuclear: If your business operations involve a certain amount of nuclear material (such as used in medical diagnostic equipment), then you may be required to have a Nuclear Safety bond.

Bid and Performance: These bonds are mostly for contractors and are required when bidding a job as well as completing a job.

Residents' Fund: A bond for the personal funds of patients.

Other: There are many other types of bonds. Contact us if you are in need of a specific bond not listed here.


Other Items of Consideration

Small Business Insurance: Bonds are not insurance. Make sure that your Liability and Property exposures are properly covered.

Large Business Insurance: Bonds are not insurance. Make sure that your Liability and Property exposures are properly covered.

Special Events: If you need a bond because of an event you are holding, such as a raffle or bingo bond, make sure that you have Liability coverage for that event as well if necessary.

If you are interested in a quote for any of these lines of insurance or are still unsure about what exactly your business might need, please contact us.