Henderson Brothers Insurance Agency

Bonds

Surety products for many industries are critical to the performance and growth of their company. Henderson Brothers has many years of experience informing clients of what information is necessary and how it needs to be presented to the underwriters to receive the most comprehensive and competitive program. Bond insurance is a financial guarantee, so proper presentation of the insurer’s financial documents is vital to securing and maintaining a bonding relationship. 

When it comes to meeting your surety obligations, you need to be sure that the proper instruments are in place to satisfy those requirements. Henderson Brothers’ staff has the expertise to market and secure all of the various bonds that your commitments may require.

Surety Bonds - Surety Bonds guarantee that specific obligations will be fulfilled. Unlike insurance, surety bond losses are not expected; however they do occur. The surety bond is written subject to a bond limit of "penalty," which is similar to the limit of liability in an insurance policy. Surety bonds are generally in effect until the principal (responsible party) fulfills its obligation, which may span a period of several years or longer.

Contract Bonds - Contract Bonds are used in the construction business to ensure that contractors will carry out their obligations as set forth in their contract, and include Bid, Performance, and Payment bonds.

Judicial Bonds - Judicial Bonds are used in the legal process for Bail Bonds, Appeal Bonds, Attachment Bonds, Injunction Bonds, Fiduciary Bonds, etc.

There are also miscellaneous bonds such as License or Permit Bonds, Workers Compensation Bonds and Motor Vehicle Bonds that we can assist you with.