Surety Insurance Carriers Industry Overview

Companies in this industry provide surety insurance products. Activities include underwriting, assigning premiums, and assuming risk for surety insurance policies, commonly referred to as bonds, that provide contract fulfillment protection. Such bonds provide a guarantee that one party will fulfill its contractual obligations to another party. The bonds are guaranteed and issued by surety insurance companies on behalf of the business (or individual) that is fulfilling a contract or other legal obligation. Construction companies, contractors, and other commercial entities often use this type of insurance.