Why Surety Companies Examine Moral Character June 2, 2021 Surety companies oftentimes examine the moral character of the principal during the bond application process. This aspect of surety underwriting can seem a bit strange to first time surety buyers. Can you imagine if every time you went to the grocery store the cashier performed a …
Why Surety Companies Require Financial Statements May 13, 2021 If your customer needs a surety bond then they may be required to submit both personal and business financial statements during the bond application process. This often comes as a shock to first-time surety buyers, as rarely do other lines of insurance utilize financial statements in …
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February 4, 2021 Surety Bond Basics: Understanding Premium Rates As an insurance agent, the chances that you will service customers needing surety bonds are pretty high. There are over 11,000 different types of surety bonds, and oftentimes your customer needs a bond as a prerequisite to obtain a business license or pull a permit. One …
December 16th, 2020 Surety Bond Basics: Underwriting Guide As an insurance agent, you’re most likely familiar with the underwriting requirements for insurance products. The insurance company estimates the likelihood that an unexpected event will occur, and charges the insured a premium rate based on that assessment. Surety bond underwriting incorporates these principles, but unique to …
Surety Bond Renewals: 3 Helpful Tips for Insurance Agents As a general rule, surety bond renewals are simpler than the initial application. But there are still some things to know that can help ensure the renewal process is smooth and painless for your customer. In this article, we will go over three helpful tips for …
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