Tag: Bonding

How Surety Bonds Are Different Than Insurance

Bonding Defined There is a big difference between a surety bond and business insurance. With business insurance, there is a contract or agreement (the policy) between the insured and insurance company. The business insurance policy outlines the terms of the agreement. Under the policy terms, the insurer agrees to indemnify the insured for any damages or loss to a third party that is covered under...