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GREAT AMERICAN INSURANCE COMPANIES: Surety Comparison

How does GREAT AMERICAN INSURANCE COMPANIES Stack Up?

Review and compare GREAT AMERICAN INSURANCE COMPANIES’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+ (Superior)

Category Size: XIII ($1.25 Billion to $1.5 Billion)

Federal Surety Bond Limit: $138,445,000

Great American Insurance Companies

While most know Great American Insurance Company from their Cincinnati Reds ballpark just below their corporate skyscraper, surety professionals know them as a top U.S. surety market. Dating back to 1872, it is one of the oldest property and casualty insurance writers in the country. By putting family values and an entrepreneurial spirit into their company vision, they provide small company service with big company backing and expertise.

Great American provides a financially strong bond backing, with a an extraordinary 30+ year run of an ‘A’ rating or higher. Many bonding companies achieve an ‘A’ rating at one time or another, but to maintain it throughout the years provides stability to their clients bonds they back. There are over 3,000 property and casualty insurance companies in the United States. Only 50 are included on the Ward’s 50 List for safety, consistency and performance. Only 5 have been rated “A” or better by A.M. Best for over 100 years. Only 2 are on both lists. Great American Insurance Company is 1 of the two.

Great American’s mission statement to provide service with strong family values and an entrepreneurial spirit combined with it’s superior bond backing is everything that one looks for in a bonding company. Our experience with Great American is that they treat each claim with care and do what’s right, not what is most cost effective. Together, we have a tremendous success ratio in claims resolution. You can learn more about how our company will be your claims advocate.

JW Surety Bonds is Great American’s #1 commercial surety bond producer in the country. Our companies have a special relationship due to our core values to do what is right on behalf of our clients, not what is quickest or most profitable.

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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