Commercial bonds can be an important aspect to any business, as they serve as a promise that a business or organization will comply with specific legal obligations. For example, they can be used to reinforce laws, such as licensing issues or permit regulations. Or, they could guarantee that a contractor will comply with required construction codes for a particular area.
Assurance Ltd. understands commercial bonds
While some in the business world might consider bonding—surety, performance, permit and license—to be just another service provided by an independent insurance agency, it is critical for an organization to take it seriously. The process is similar to bank lending in terms of the underwriting process, and must be given the right amount of devotion and care so it is completed correctly.
One wrong word, or a sentence that is confusing or poorly describes an element of the agreement could be detrimental to a company. At Assurance Ltd., our experts will work with you to better understand your firm and what types of risk it might face. Then, if a commercial bond is deemed the appropriate answer, we will walk you through the process and find the ideal solution.
At Assurance Ltd., we have extensive experience in how to position and present your account to bond underwriters. Much of the success of placing your needs will depend on the pre-underwriting process and the actual submission to underwriters. We represent the leading markets for bond products and have experience with a wide variety of unique requirements. If you expect bonds to play an important role in your company’s ability to grow, please contact us today to discuss how we can help you succeed.