In our last post, we talked about the various types of surety bonds that exist. Now that you know the types of surety bonds, we are going to discuss onerous provisions that may be present in certain bond forms. As an underwriter and an agent, it is important to review...

Surety bonds play a critical role in various industries, serving as a form of protection for both parties involved in a contractual agreement. These bonds provide assurance and financial security, ensuring that the terms of a contract are fulfilled as agreed upon....

Introduction In the world of business and finance, security deposits and letters of credit have long been the go-to tools for providing financial assurance in various transactions. Whether you're renting an apartment, starting a new business, or engaging in...

In the intricate realm of employee benefits and retirement plans, the protection of participants' funds is of utmost importance. The Employee Retirement Income Security Act (ERISA) of 1974 was introduced to ensure the rights and interests of employees in their...

Lexington National Insurance Corporation is a proud member of The Surety & Fidelity Association of America (SFAA), the leading national trade association for sureties. The SFAA recently engaged Ernst & Young (“EY”) to analyze whether bonded construction...

At Lexington National Insurance Corporation, our extensive expertise lies in providing comprehensive insurance solutions tailored to the specific needs of original equipment manufacturers (OEMs), service contract providers, and obligors. We understand the intricacies...