Surety Bonds
Horn & Co. Insurance Services is an appointed agent with CNA Surety. CNA Surety has the capability to serve a full range of bonding needs, from the smallest commercial bonds to multi-million dollar contract bonds. If you have a bonding requirement, we can help you find the solution with CNA Surety.
What is a Surety Bond? Surety bonds are three-party agreements in which the issuer of the bond (the surety) joins with the second party (the principal) in providing protection to a third party (the obligee) regarding fulfillment of an obligation on the part of the principal. An obligee is the party (person, corporation or government agency) to whom a bond is given. The obligee is also the party protected by the bond against loss.
Commercial Bonds
- License and Permit Bonds
- Public Official Bonds
- Fiduciary Bonds
- Court Bonds
- Bankruptcy Trustee Bond
- Notary Public Bonds
- Discharge Mechanic’s Lien Bonds
- Lost Instrument Bonds
- Wage and Welfare Bonds
Contract Bonds
Fidelity Bonds
Errors and Omissions Insurance
Commercial Bonds
License and Permit Bonds:
License and Permit Bonds are required to obtain a license or permit in many cities, counties, states or other political subdivisions. They may be required for a number of reasons, including the payment of certain taxes and fees or providing consumer protection as a condition to granting licenses related to selling things such as motor vehicles or contracting services.
Public Official Bonds:
Public Official Bonds protect the interests of taxpayers and consumers, many public officials are required to be bonded by statute or ordinance. CNA Surety's public official bonds guarantee that a public official will handle money or other assets entrusted to him or her with honesty. The bond may also guarantee that the official faithfully performs his or her duties.
Fiduciary Bonds:
Bonds which protect against dishonest accountings and a lack of faithful performance of duties by administrators, trustees, guardians, executors, and other fiduciaries. Fiduciary bonds, in some cases referred to as probate bonds, are required by statutes, courts, or legal documents for the protection of those on whose behalf a fiduciary acts. They are needed under a variety of circumstances, including the administration of an estate and the management of affairs of a trust or a ward.
Court Bonds:
Judicial and probate bonds, also referred to as fiduciary bonds, secure the performance on fiduciaries' duties and compliance with court order, e.g. administrators, executors, guardians, trustees of a will, liquidators, receivers, and masters. Judicial proceedings court bonds include injunction, appeal, indemnity to sheriff, mechanic's lien, attachment, replevin, and admiralty.
Bankruptcy Trustee Bond:
Bonds which provide protection to the beneficiaries of the bankruptcy action that the bonded trustees, appointed in a bankruptcy proceeding, will perform their duties and handle the affairs according to the rulings of the court.
Notary Public Bonds:
Include bonds that are required by statutes to protect against losses resulting from the improper actions of notaries.
Discharge Mechanic’s Lien Bonds:
Lien against real estate may be filed for an amount claimed to be due for labor or materials furnished for the construction of a building or other improvement upon property. Pending final determination of the owner's liability, the owner may discharge the lien by giving this bond conditioned for the payment of any amount that may be found due to claimant with interest and costs.
Lost Instrument Bonds:
Bond that guarantees against damages caused by reissuing a lost instrument or security.
Wage and Welfare Bonds:
Wage & Welfare bonds, also known as union bonds, are required by local unions to guarantee union dues from union members. It is considered a financial guarantee commercial surety bond.
Contract Bonds
Bid Bonds:
Bonds which provide financial assurance that the bid has been submitted in good faith, and that a contractor will enter into a contract at the amount bid and post the appropriate performance bonds. These bonds are used by owners to pre-qualify contractors submitting proposals on contracts
Performance & Payment Bonds:
Performance Bonds cover performance of the terms of a contract. These bonds frequently incorporate payment bond (labor and materials) and maintenance bond liability. This protects the owner from financial loss should the contractor fail to perform the contract in accordance with its terms and conditions.
Maintenance Bonds:
Maintenance Bonds provide for upkeep of the project for a specified period of time after a project is completed. These bonds protect against defective workmanship or materials.
Supply Bonds:
Surety bonds are three-party agreements in which the issuer of the bond (the surety) joins with the second party (the principal) in providing protection to a third party (the obligee) regarding fulfillment of an obligation on the part of the principal. An obligee is the party (person, corporation or government agency) to whom a bond is given. The obligee is also the party protected by the bond against loss.
Fidelity Bonds
Janitorial Service Bonds:
License and Permit Bonds are required to obtain a license or permit in many cities, counties, states or other political subdivisions. They may be required for a number of reasons, including the payment of certain taxes and fees or providing consumer protection as a condition to granting licenses related to selling things such as motor vehicles or contracting services.
Employee Dishonesty:
Employee Dishonesty Bonds guarantee that the bonded employee(s) will handle their employer's money and property with fidelity. Small companies can be especially hard hit because they can't afford extensive safeguards and do not have the financial capacity to absorb the losses.
Pension/ Trust Bonds:
Pension Plans and profit sharing programs are managed by appointed individuals known as plan fiduciaries. The Pension Reform Act of 1974 states that the fiduciaries of a pension or profit sharing fund are required to post a bond for 10% of the amount of funds handled.
Blanket and Schedule Bonds:
Bonds which protect against dishonesty of all of the employees of an entity to the stated amount of the bond.
Errors & Omissions Insurance
Notary Public Errors & Omissions Insurance:
Can your client afford a lawsuit because he/she made an innocent mistake and was an easy target for someone trying to recover losses? Notary public bonds protect the public, but they don't protect your clients.
Notary Public Errors and Omissions Insurance safeguards your clients against costly and time-consuming lawsuits.
Contact us for more information on Surety Bonds, or submit a quote request today.
This is a general description of coverage and is not a policy contract. The policy itself should be read for your coverages and exclusions. Coverage underwritten by CNA Surety Company.