This interactive workshop provides a comprehensive overview of surety bonds within the insurance landscape. Participants will gain a fundamental understanding of what surety bonds are, how they differ from traditional insurance, and the critical role they play in various industries, particularly construction and finance.
At the end of the session participants will be able to:
Define a surety bond and identify the three parties involved: the obligee, the principal, and the surety.
Gain an appreciation for the source documents for bonds.
Differentiate surety bonds from traditional insurance products (e.g., liability, property).
Understand the different types of bond wordings.
Identify and explain the main types of surety bonds, including Bid/Tender, Advance Payment, Performance / Supply, Contract, Customs and Other types of bonds.
Understand the underwriting process for surety, including the "Three C's" of surety (Character, Capacity, Capital).
Analyze the risks involved in surety and the remedies available to the surety company.
Understand how bonds are terminated.
Gain an appreciation for Bond Claims
Advise clients on appropriate bonding needs and documentation requirements.
Understand how bonds and Contractors All Risk are linked.
For booking info click here to email
back to CPD Training
