Surety Bonds are an instrument through which an insured (in surety terms, a principal) who has assumed a financial or other obligation to a third party (obligee) can have that obligation guaranteed by the bonding company. The bond is for the benefit of the obligee in the event that the principal fails to meet its obligations to the third party. There are many such bonds, including contractor's performance bonds, licensing bonds, motor vehicle dealer bonds and court-required bonds (for example, probate or conservatorship bonds).
Foremost Insurance Group
Patriot Insurance Company
Philadelphia Insurance Companies