What is a Surety Bond?

Posted Mar. 18

A surety bond is a mutually binding contract between three parties known as the Obligee, the Principle, and the Surety. The Obligee is the entity that requires the guarantee of a surety bond from the Principle. The Obligee may be a government agency, a company, or an individual. The Principle is the person or entity applying for and purchasing the bond from the Surety. The Surety is the insurance carrier.…

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What is a surety company?

Posted Mar. 18

A surety company is an insurance carrier that provides surety bonds that are used as a guarantee that a business or individual will comply with obligations and requirement of an agreement. Many surety companies are divisions within an insurance group, but some may be a surety company providing only bonding services. Surety is most common in contracts in which one party questions whether the counter party in the contract will…

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What is an indemnity agreement?

Posted Mar. 18

An indemnity agreement is a contractual agreement that serves as a risk transfer mechanism, in which one party is transferring risk to another party. Indemnity is compensation for damages or loss, it may also indicate an exemption from liability for damages. Indemnity is based on a contractual agreement made between two parties, in which one party agrees to pay for potential losses or damages caused by the other party. If…

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continental heritage insurance

Why Choose Continental Heritage Insurance Company?

Posted Mar. 18

Specializing in writing insurance products for existing and emerging markets, Continental Heritage Insurance Company has the experience and expertise to meet your insurance needs. Since 1980 Continental Heritage Insurance, a Florida Corporation with offices near Cleveland, OH, has continually evolved to help enhance businesses operating in both established and groundbreaking markets. Continental Heritage provides exceptional customer service. We have a reliable, dedicated, and responsive underwriting team that will work with…

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