Surety and Fidelity Bonds
What is a surety bond?
A surety bond is a three-party written agreement whereby a surety guarantees a specific performance on behalf of a principal (customer/insured) to an obligee. The obligee is usually a government entity such as a city, town, or state.
AIB is here to help you with the various types of surety bonds including, but not limited to:
- License and Permit Bonds
- Public Official Bonds
- Probate and Other Court Bonds
- Miscellaneous Surety Bonds
- Contract Performance Bonds
What is a fidelity bond?
A fidelity bond is a form of business insurance that offers an employer protection against losses that are caused by its employees’ fraudulent or dishonest actions. With employee fraud causing business owners more than $3 billion in annual business profits, company owners must consider this type of coverage.