Surety Business Insurance

Surety Bonding with OVD Insurance

Surety bonds are similar to insurance in that they provide financial protection in case of loss. These bonds protect businesses and individuals from financial loss and ensure that contracts and agreements are fulfilled.

Protection

Surety bonding provides financial protection by compensating the affected party if the bonded party fails to fulfill their obligations under a contract or agreement.

Trust and Credibility

Surety bonds can increase trust and credibility between parties in a transaction. By obtaining a surety bond, the party providing the bond demonstrates their commitment to fulfilling their obligations, which can increase confidence and trust in the relationship.

Compliance

Many industries and government entities require surety bonds as a prerequisite for conducting business or obtaining licenses. By obtaining a surety bond, businesses and individuals can ensure regulatory legal compliance requirements.

Improved access to credit

Surety bonds can also help businesses and individuals improve their access to credit. Surety bond companies typically review the financial strength and creditworthiness of the party requesting the bond before issuing the bond. If the party is deemed creditworthy, the surety bond can serve as a form of collateral that can help them obtain credit from lenders.

Facilitates larger contracts

Surety bonding can help businesses and individuals secure larger contracts by demonstrating their ability to fulfill the obligations of the contract. This can lead to increased business opportunities and revenue for the party providing the bond.

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Summit Series

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Tripp VanderWal speaks on the American Rescue Plan Act of 2021 in this webinar presented by OVD Insurance.

October 6, 2021

Transportation Insurance ’21

In this webinar, presented by OVD Insurance, Josh Stoll, Kate Paciorek, and Matt Fabry speak about leveraging data and regulations.

February 6, 2020

OVD Cyber Security Summit 2020

On February 6th, 2020, OVD Insurance hosted a Cyber Security discussion as part of their ongoing Summit Series, focusing on important topics and trainings essential to the business insurance landscape.