CNA SURETY GROUP: Surety Comparison
How does CNA SURETY GROUP Stack Up?
Review and compare CNA SURETY GROUP’s historical surety metrics such as direct premium, market share, net loss ratios and more.
CNA SURETY GROUP Overview
CNA Surety (also known as Western Surety) has been around for over 100 years and does business around the world. The company is head-quartered in Chicago and also has offices throughout the U.S., Europe and Canada. They have over 700 employees on staff, a staggering amount relative to the surety industry. The staff not only includes management and underwriters, but in-house bond issuers. This is a great asset to smaller bond agencies or insurance based agencies that don’t have experience with bond issuance. Anyone who has ever issued a bond knows that one small incorrect detail and the bond could be rejected.
From the agent’s perspective, CNA Surety Company seems to have come close to perfecting the underwriting process. Their simplified underwriting allows for quicker turnaround than most underwriting departments. You can also find them on the Department of the Treasury’s Listing of Approved Sureties (Department Circular 570), a list of all Federally approved sureties. CNA Surety also has 40,000+ appointed agents, which is leaps and bounds above any other U.S. surety company. If you are looking for a bond directly or for a client, and in the unlikely scenario CNA Surety isn't able to help, that's where our company can help. JW Surety Bonds is the nations largest volume producing MGA/MGU, which means we will be able to assist with just about any bond need.
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.
#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.
#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.