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Surety

 

Surety – is a promise by a surety or guarantor to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal’s failure to meet the obligation.

Our dedicated surety department has over 60 years of industry experience, representing all types of surety accounts, from mom and pop stores to multi-million dollar contracts. We have the facilities and expertise to write any type of bond request you need.

Our team leverages our relations to get the maximum amount of bond credit for you. Our ability to obtain this for you is based on two measures: the single job and your aggregate jobs. When looking at both of these measures, we apply three basic considerations: your experience, the appetite of the surety, and your current and historical financial standing. We work for you, and paint your company in the best possible light to the marketplace. Our turnaround time is aggressive and our rates are extremely competitive.

Some Examples of Our Surety Placements Include:

  • Conservancy bonds
  • Contract bonds
  • Crime bonds
  • Financial guarantee bonds
  • Fidelity bonds
  • Fiduciary bonds
  • License and permit bonds
  • Miscellaneous bonds
  • Notary bonds

Servco Pacific Insurance Offers You An Enterprise Approach

  • Strong relationships with national and international carriers allowing us to deliver a broad range of options for your insurance needs.
  • A dedicated claims department that negotiates with carriers on your behalf to reduce claim costs.
  • A cutting-edge client interface service platform.
  • Full portfolio of risk management service including contract review.
  • Tailor-made insurance policy coverage that fits your business needs and appetite for risk.
  • Surety expertise including effectively issuing and tracking all bonds needed to run your business.