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WESTFIELD GROUP: Surety Comparison

How does WESTFIELD GROUP Stack Up?

Review and compare WESTFIELD GROUP’s historical surety metrics such as direct premium, market share, net loss ratios and more.

Financial Outlook: Stable

Licensed Nationwide? Yes

A.M. Best Rating: A (Excellent)

Category Size: XIV ($1.5 Billion to $2 Billion)

Federal Surety Bond Limit: $104,304,000

WESTFIELD GROUP Overview

Westfield Insurance is one of the largest non-public companies in Ohio. They are also the largest writer of performance bonds in Ohio.

Renewing Your Surety Bond? Top 3 Things to Consider

#1: Are You Getting the Best Surety Bond Rate?

Your bond rate is determined by how likely it appears you would cause claims by not abiding by the terms of your bond. Not all bond companies will offer the same bond rate for a given bond type, as some specialize in certain industries and are more familiar with how to determine the true risk of your potential to cause claims in your area of business. We work with the top bond companies in the U.S., which means we will find you the best rate regardless of which bond type you’re looking for.

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#2: Why You Need a Surety Bond Claims Advocate

It’s crucial to understand that any claims you cause on your bond will be paid by the bond company initially, but will ultimately look to you for reimbursement. This is why it’s vital that you work with a company that puts an emphasis on defending their clients from claims. Having a true claims advocate will help ensure you aren’t forced to pay for false claims, or will resolve authentic claims with reduced or no cost to you.

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#3: Your Bonding Company's Financial Strength Matters

It’s crucial that you understand if you get a surety bond from a bonding company that doesn’t meet the necessary requirements in place, your bond can be rejected without any type of refund. Bonding companies must meet certain requirements to write your bond, and those requirements can vary depending on what type and size of bond you need. You can learn more about how to choose the right bond company.

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