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SURETY BONDS

Surety bonds are third party contracts in which one party, the surety company, guarantees the performance or honesty of a second party, the principal (obligor), to the third party (oblige) to whom the performance of debt is owed.

Bond Products available through our Surety Markets:

  • Contract Bonds- Bid, Performance and Payment, Maintenance, Supply
  • Commercial Bonds- License & Permit, Probate, Public Official, Receiver or Trustee, Judicial (Court), Probate, Notary Public, Customs, Miscellaneous
  • Fidelity- Erisa (Pension Plans), Business Services (Janitorial), Dishonesty
  • Errors and Omissions Insurance- Notary Public, Tax Preparers
  • Management Liability- Fiduciary, Director  & Officers, Employments Practices

Sample of Services Provided By Our Agency and Surety Markets

Agency in-house authority (construction bonds dependent on size and scope of contract)

Surety underwriters can assist in reviewing bond forms and job contracts

Surety claims and legal groups available to proactively resolve problems before they turn in to bond claim losses

Surety Markets:

  • CNA/Western Surety
  • Liberty Mutual Group
  • Travelers
  • ACSTAR
  • Construction Bonding
  • USG/Century Surety
  • The Hartford
  • Selective Insurance
  • Hanover
  • Zurich
  • Surety Placements Services
  • M. Wilson

ADDITIONAL PRODUCTS

Umbrella / Excess Liability

An additional limit of liability that is written over primary liability policies, such as: General Liability, Auto Liability, Employee Liability, and Employee Benefits Liability. Some umbrellas will even go over foreign liability. The umbrella provides excess limits once primary limits are exhausted. In special circumstances, it can drop down to claims not covered by an underlying policy.

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Commercial Package / Business Owners Policy

Commercial Package / Custom coverage that combines two or more coverage forms, such as: Property, Liability, Business Auto, Inland Marine, and Crime.

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“What our clients say”

“Goodman Venegas' expertise has helped us with our standard general liability, workers' compensation, and auto policies as well as leading us in our search for cost savings in our medical insurance policies.”-Willford (Bill) Ebright, Controller-Production Services Management Inc. (Saline, MI)