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Western Surety Company, founded in the year 1900, is an insurance company based in Sioux Falls, South Dakota. It is a leader in small, miscellaneous fidelity and surety bonds.
Mallory Mercaldi has written: 'Aetna Bond' -- subject(s): Aetna Casualty and Surety Company (Hartford, Conn.), History, Surety and fidelity Insurance
Archibald Moore has written: 'Province of Lower Canada, Court of Appeals, July session, 1817' -- subject(s): Insurance, Surety and fidelity, Salvage, Surety and fidelity Insurance, Surety and fidelity insurance, Assurance de cautionnement, Sauvetage maritime
Western Surety Company was created in 1900.
A fidelity bond is a specific type of surety bond issued to protect an employer from financial or property losses due to the dishonesty of employees. Often these bonds are issued when an employer hires 'high risk' employees.It works exactly like a surety bond does.
Robert C. Wickliffe has written: 'R.C. Wickliffe, Governor, versus F.M. Dawson, et al' -- subject(s): Insurance, Surety and fidelity, Surety and fidelity Insurance, Trials, litigation
You need to have an insurance license to transact surety. Then, you would need to establish experience in the field of surety either by working for a surety company or surety agency.
The consent of surety to final payment is issued by the surety company at the end of a project. The consent states that the owner reserves their right under the bond and the surety company agrees the final payment will not relieve them of any of its obligations.
Western Surety Company's population is 400.
The surety company is usually an insurance company that is guaranteeing the obligation of another party in a contract. In order for a company to write surety bonds, it must be licensed by the insurance departments of the states in which they conduct business. A surety bond is a contract between three parties. The obligee, principal and surety company. The obligee is the party requiring the bond and will be in receipt of the contracted work. The principal is the primary party who will be performing the contracted obligation and the surety ensures that the principal's obligation will be performed.
Samuel J. Arena has written: 'The law of commercial surety and miscellaneous bonds' -- subject(s): Surety and fidelity insurance, Suretyship and guaranty
Fidelity Bond(Download)We, ____________________, as PRINCIPAL, and ___________________________, a surety company authorized to issue these bonds, as SURETY, are held and bound to __________________________ in the sum of $ ______ (____________ & _______/100 dollars) and the legal successors of __________________________, for which we bind ourselves and our legal successors.The condition of this bond is that PRINCIPAL is employed by __________________________ as _______________________________ and is required to be bonded.If PRINCIPAL shall account for all money and property and other items of value coming into PRINCIPALs possession or control as a result of employment, then this obligation shall be void, otherwise it shall remain in full force and effect.This bond shall remain in force until terminated or canceled on ___ days written notice by SURETY by OBLIGEE.Dated: ______________________________________________________________________________________________, PRINCIPAL_________________________________________________________________, SURETYFidelity BondReview ListThis review list is provided to inform you about this document in question and assist you in its preparation. A Fidelity Bond is a straightforward instrument for bonding purposes.1. Make multiple copies. Give one to each signer.
There are a few different companies that sell fidelity bonds. Some of these place would include ACE Life Insurance, State Farm, as well as CNA Surety. Information on costs and specific coverage can be found on each individual company website.
Russ Banham has written: 'Appleton' -- subject(s): History, Inc Appleton Papers, Paper industry, Papermaking 'Wanderlust Airstream at 75' 'Legacy & leadership' -- subject(s): History, Insurance companies, Insurance, Surety and fidelity, Surety and fidelity Insurance, United States Fidelity and Guaranty Company 'Conoco' 'Coors' -- subject(s): Beer industry, Brewing industry, Coors Brewing Company, History 'Town & Country Markets' -- subject(s): Family-owned business enterprises, Grocery trade, History, Supermarkets, Town & Country Inc. (Bainbridge Island (Wash.))
can a convicted felon obtain a business license and surety bond in florida?
There is no company called Surety Insurance. However one can contact almost any company through email, mail, telephone, or in person (at a company location).
Both insurance and surety provide protection against financial loss. Insurance anticipates losses and charges a premium with that in mind where surety companies expect no loss and the premium charged is a 'service fee'. Surety bonds involve three-parties the surety company, principal and obligee. Insurance involves two-parties the insurance company and the insured. With insurance the risk is transferred to the insurance company where as with surety the risk remains with the principal. The surety is providing a guarantee against loss by agreeing to be responsible for the obligation of the principal.
An insurance policy is not a surety. Insurance is designed to pay for losses that are sudden and unexpected without the obligation of the insured to reimburse the insurance company whereas a surety expects repayment from the principal who purchased the surety bond.
Usually one surety company can take the risk but sometimes the risk is so large that more than one surety might be required by the obligee (the entity requiring the bond) or let's say I furnish a surety bond for a minor's estate and the estate grows in value and the first surety either cannot or does not want to provide another bond. In that case I am confident the obligee would accept a bond from another surety company.
In 1995, surety underwriting profits nearly doubled to $276.9 million, while fidelity under-writing profits were flat -- up only 1.9 percent to $232.9 million.
Yes, with a very small exception, surety bonds are required to be issued by a licensed and admitted surety company that is licensed by the state in which the bond is being filed. The bond can be executed by a licensed agent or an other attorney in fact, for the surety company.
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William A. Downing has written: 'The law of probate bonds' -- subject(s): Bonds, Probate law and practice, Surety and fidelity Insurance
Your first step in obtaining a surety bond is to contact a surety agent that is familiar with the bonding process. There will be an underwriting process associated with obtaining the surety bond but the surety agent will be able to assist you with more detailed information. Before the surety will give you a bond, you will have to go through a rigorous prequalification process because surety (unlike insurance) is a financial backing. It is more like a credit facility than an insurance policy. Surety companies will therefore thoroughly examine you and your company to ensure that you can perform as stated in your contract or license.