LIBERTY MUTUAL GROUP: Surety Comparison
How does LIBERTY MUTUAL GROUP Stack Up?
Review and compare LIBERTY MUTUAL GROUP’s historical surety metrics such as direct premium, market share, net loss ratios and more.
LIBERTY MUTUAL GROUP Overview
Liberty Mutual Surety (LMS) is a perennial top surety writer in the U.S., writing nearly 1/5th of the total U.S. bond market. Liberty Mutual’s Global Specialty Unit oversees the company’s surety division, which employs the industry’s top professionals. As a heavily entrenched company focused on the long-term, they understand suretyship and act in the best interests of their clients.
As one of the world’s largest insurance carriers, Liberty Mutual provides an extremely strong bond backing. The LMS claims department is extremely responsive. With their sights set on the long-term, they understand the importance of handling claim notices properly on their clients’ behalf. JW Surety Bonds claim advocates have a direct line of communication and strong relationship with the LMS claims team. Working together on our clients behalf, we have a very high claims resolution success rate.
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.