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Bonding Services
Dunaway
Insurance primarily provides products
for three bond segments:
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Commercial Risk:
Targeting businesses of all sizes, non-profit organizations,
governmental entities, and individuals for crime insurance, surety
bonds, and liability insurance products.
-
Construction Services: Targeting contractors
for their surety business.
-
Financial Services: Targeting financial
institutions for crime insurance, surety bonds, and liability insurance
products.
Contract Surety Bonds
Protects an owner (obligee) from the failure of a
contractor (principal) to perform contractual obligations.
Most Common Types of Bonds
- Bid
- Performance and Payment
- Supply
Advantages
- Significant capacity
- Stable market
- SBA Bond Guarantee Program
Target Markets
- Emerging/Small Contractors
- Mid-sized Contractors
- Well-managed firms demonstrating management and
financial qualities for continued success
Underwriting Specialties
- Heavy Contractors
- General Contractors
- Computer and Technology Companies
- Service Businesses
Commercial Surety Bonds
Protects a third party (obligee) from the failure of an insured
(principal) to perform or fulfill a prescribed obligation.
Most Common Types of Bonds
- License and Permit
- Probate
- Court-plaintiffs/defendants
- Self-Insurers Workers' Compensation
- Lost Instrument
Advantages
- Significant capacity
- Tailored programs
- Bulk billing
- Multi-term billing discounts
- Licensed in all 50 states
- International capabilities
Target Markets
- Commercial Companies of all sizes
- Non-Profit Organizations
- Individuals
- Associations and Franchises
Underwriting Specialties
- Banks and Insurance Companies
- Cable Television Companies
- Coal/Oil/Gas Utilities
- Computer and Technology Companies
- Health Care Organizations
- Retail Businesses
Fidelity/Crime Insurance
Protects against Employee Dishonesty, Forgery/Alteration of
outgoing checks, Theft, Disappearance and Destruction of money and
securities, and Computer Fraud.
Product Features
- Primary or excess
- Significant capacity
- Blanket protection on all employees
- Per occurrence coverage with no aggregate limit
- Multi year policy for most small and mid-sized
risks
Coverage Enhancements
- Third-Party Fidelity
- ERISA Fidelity with Inflation Guard
- Worldwide
- Volunteers and Outside Directors added as employees
Target Markets
- First-Time Buyers
- Commercial Companies of all sizes
- Non-Profit Organizations
- Associations and Franchises
Underwriting Specialties
- Manufacturers
- Professional Firms
- Service Businesses
Public Official Bonds
Guarantees the Public Official will faithfully perform the
duties of his/her office.
Types of Bonds
- Statutory surety bonds for individual public
officials
- Blanket fidelity bonds for public entities
Advantages
- Significant capacity
- Bulk billing
- Optional coverages including Forgery/Alteration,
Money and Securities, and Computer Fraud
Target Markets
- Individual Surety Bonds for elected or appointed
positions
- Tax Collectors
- Treasurers
- Town clerks
- Notaries (Surety and Errors &
Omissions coverage)
Blanket Fidelity Bonds covering all other public
entity employees
- Towns, Cities, Villages or other Municipalities
- State Universities or Colleges
- School Districts
- Fire, Water and Light Districts
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