This document explains that most surety bonds are written by subsidiaries or divisions of insurance companies, which are regulated by state departments of insurance. Surety companies are authorized and qualified to do business by the state insurance commissioner in the jurisdiction where they are domiciled and where the bond is issued.
Topic
Commercial Surety, Contract Surety, Questions and Answers, Risk Management & Insurance
Publish Date
November 20, 2024
Audience
Agents, Contractors, Owners, Sureties
Resource Type
Brochure
Project Owners Beware – Don’t Eliminate Prime Bonds in Favor of Dual Obligee Status on Subcontract Bonds