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Many policyholders have challenged insurance companies' assertions that this is not a covered loss in court; however a series of recent (2017) North American cases support the insurers' positions, notably American Tooling Center, Inc. v. Travelers Casualty and Surety Company of America, [7] The Brick Warehouse LP v.
Surety bond companies attempt to predict the risk that an applicant represents. Those who are perceived to be a higher risk will pay a higher surety bond premium. Since surety bond companies are providing a financial guarantee on the future work performance of those who are bonded, they must have a clear picture of the individual's history.
Allianz Trade is an international insurance company that offers a range of services, including trade credit insurance, debt collection, surety bonds and guarantees, business fraud insurance and political risk protection. It monitors the financial health of over 80 million companies. [1] It is a subsidiary of Allianz SE.
Losing your job can devastate your financial life if, like most Americans, you don't have a hefty pot of gold in the form of ample emergency savings. Preparation for the worst-case scenario,...
It also established financial guaranty insurance as a monoline business, limiting industry members to writing bond insurance and closely related lines of insurance that include surety, credit, and residual-value insurance. The monoline restriction also prevented other types of insurance companies from offering financial guaranty insurance. [14]
The same year, the company also acquired Midwest Stop Loss Underwriters. In 2002, the company acquired Dickson Manchester Ltd. and MAG Global Financial Products. [21] [22] In 2004, the company acquired American Contractors Indemnity Company and RA&MCO Insurance companies. [23] [24] In 2005, the company acquired US Surety company, DeMontfort ...
Assurity Life Insurance Company (Assurity) is an American mutual insurance organization based in Lincoln, Nebraska. Assurity employs approximately 400 associates and is licensed to conduct business in all U.S. states and the District of Columbia , except New York .
Risks that can be insured by private companies typically share seven common characteristics. [4]Large number of similar exposure units.Since insurance operates through pooling resources, the majority of insurance policies are provided for individual members of large classes, allowing insurers to benefit from the law of large numbers in which predicted losses are similar to the actual losses.