Surety Bond Insurance

A Surety Bond is an agreement between 3 parties, the “principal”, the “surety” and the “obligee”. Surety bonds are most commonly used in construction contracts or in servicing contracts.

It is issued to provide a guarantee to the client that the contractor will be able to fulfill the obligations of the contract. In this arrangement, the obligee is the owner of the project and the principal is actually the contractor who is supposed to fulfill the obligations.

Surety bonds can be in 3 forms:

Bid Bonds
Performance Bonds
Payment Bonds

Explore More Special Risk Insurance Options

Event Insurance

Event Insurance

Event Insurance

Covers losses arising out of cancellation or postponement of an event

Cyber Risk

Specifically designed policy to cover risks associated with a cyber-related security breach or similar event

GAP Insurance

Covers the “gap” between the insured value of the car and the depreciated value in the event of a total loss

Agricultural

Covers loss or damage to crops, livestock, structures, green houses and farm equipments

Aquaculture or Fish Growing Insurance

Aquaculture or Fish Growing Insurance

Aquaculture or Fish Growing Insurance

Covers loss or damage to offshore and onshore farms including hatcheries

Fine Art & Specie

Fine Art & Specie

Fine Art & Specie

Covers organisations and individuals against the loss or damage to valuables, precious stones, jewelleries, and works of art

Stock Throughput

Stock Throughput

Stock Throughput

Marine cum storage cover that insures movement of goods throughout the supply chain, from production to final destination

Product Recall

Covers the cost and associated expenses attributable to recall of a product due to fault or contamination

Golfers Hole-in-One insurance

Golfers Hole-in-One insurance

Golfers Hole-in-One insurance

Provides prize indemnification to sponsors of 'hole in one'

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