Blog
Lexington Nationals Contract Surety Rapid Express Program Helps Agents Save Time
Have you ever gone back and forth with a surety underwriter to get a relatively small surety bond approved? Lexington National has developed a Contract Surety Rapid Express program that allows agents to quickly obtain approvals on contract surety bonds $750,000 and...
Service Contract Provider Bonds
Have you ever purchased a service contract (sometimes referred to as an extended service plan or extended warranty) for your home, car, or consumer good? Most states regulate sellers of service contracts and require that the entity selling the contract has adequate...
Lost Instrument Surety Bonds
Lost instrument surety bonds are typically required when a financial certificate is lost or stolen. The reason that financial institutions or transfer agents require lost instrument surety bonds to be posted is because if the original instrument is found, the...
Surety Bonds and Collateral
Have you ever applied for a surety bond and were told by the underwriter or your agent that to be approved for the bond, that you would need to post collateral? This article goes into detail to explain why collateral is sometimes required as part of the surety bond...
What is a BMC-84 Bond?
Freight Broker Bonds (BMC-84) are surety bonds required by the Federal Motor Carrier Safety Administration (FMCSA) for those operating as transportation brokers with carriers performing interstate deliveries. The FMSCA requires that all brokers must file a bond...
Isn’t It All Just Paper?
Many institutional purchasers – like Third Party Administrators (TPAs), Insurance & Bond Agencies, and Reinsurance Brokers -- of surety bonds and insurance products have traditionally thought of their relationships with Insurers and Sureties as being purely...