SURETEC INSURANCE COMPANY: Surety Comparison
How does SURETEC INSURANCE COMPANY Stack Up?
Review and compare SURETEC INSURANCE COMPANY’s historical surety metrics such as direct premium, market share, net loss ratios and more.
SureTec Insurance Company is the most successful privately held bonding company in the world. Unlike many other bonding companies, SureTec’s focus is on surety bonds exclusively; they do not offer any P&C insurance products. The company is partially owned by its employees, which provides an additional level of care that is rare in an industry where bonds are often backed by massive publicly traded insurance conglomerates.
SureTec is backed by over $200 million in reserve assets. For further protection, SureTec has re-insurance agreements setup the world’s strongest re-insurers. This combination provides the expertise of the best bond professionals in the world with the strongest backing you can find.
As a privately held organization with a sole focus on surety bonding, SureTec’s claims handling is second to none. A proper investigation is always done on all claims. Their team recognizes the seriousness of a claim and work hand-in-hand with the JW Surety Bonds claim advocates to gather information to defend your claim. Working together, we have a very high claims resolution success rate.
Financial Outlook: Stable |
Licensed Nationwide? ✔ Yes |
A.M. Best Rating: A (Excellent) |
Category Size: VII ($50 Million to $100 Million) |
Federal Surety Bond Limit: $8,188,000 |
Renewing Your Surety Bond? Top 3 Things to Consider
#1: Are You Getting the Best Surety Bond Rate?
Your bond rate is determined by how likely it appears you would cause claims by not abiding by the terms of your bond. Not all bond companies will offer the same bond rate for a given bond type, as some specialize in certain industries and are more familiar with how to determine the true risk of your potential to cause claims in your area of business. We work with the top bond companies in the U.S., which means we will find you the best rate regardless of which bond type you’re looking for.
#2: Why You Need a Surety Bond Claims Advocate
It’s crucial to understand that any claims you cause on your bond will be paid by the bond company initially, but will ultimately look to you for reimbursement. This is why it’s vital that you work with a company that puts an emphasis on defending their clients from claims. Having a true claims advocate will help ensure you aren’t forced to pay for false claims, or will resolve authentic claims with reduced or no cost to you.
#3: Your Bonding Company's Financial Strength Matters
It’s crucial that you understand if you get a surety bond from a bonding company that doesn’t meet the necessary requirements in place, your bond can be rejected without any type of refund. Bonding companies must meet certain requirements to write your bond, and those requirements can vary depending on what type and size of bond you need. You can learn more about how to choose the right bond company.