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CNA Financial Corporation is a financial corporation based in Chicago, Illinois, United States. Its principal subsidiary, Continental Casualty Company (CCC), was founded in 1897, and The Continental Insurance Company (CIC) was organized in 1853. [ 2 ]
In the mid 20th century it was one of the larger employers in the city. It was also the national leader in the area of small, miscellaneous fidelity and surety bonds. The company's unique approach focused on service and convenience. The Kirby family sold the business in 1992 [3] and it is now part of CNA Surety.
A surety bond is defined as a contract among at least three parties: [1] the obligee: the party who is the recipient of an obligation; the principal: the primary party who will perform the contractual obligation; the surety: who assures the obligee that the principal can perform the task; European surety bonds can be issued by banks and surety ...
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Bond insurance, also known as "financial guaranty insurance", is a type of insurance whereby an insurance company guarantees scheduled payments of interest and principal on a bond or other security in the event of a payment default by the issuer of the bond or security.
“To account for post-judgment interest and appeal cost, a surety will often set the bond amount at 120% of the judgment or more,” Trump attorney Clifford Robert wrote in a filing to the ...
Chubb Limited is an American–Swiss [2] company incorporated in Zürich, and listed on the New York Stock Exchange (NYSE) where it is a component of the S&P 500. [3] Chubb is a global provider of insurance products covering property and casualty, accident and health, reinsurance, and life insurance and is the largest publicly traded property and casualty insurance company in the world. [4]