NAS SURETY GROUP: Surety Comparison
How does NAS SURETY GROUP Stack Up?
Review and compare NAS SURETY GROUP’s historical surety metrics such as direct premium, market share, net loss ratios and more.
NAS SURETY GROUP Overview
NAS Surety Group is the surety specialty subsidiary for SwissRe in North America. While SwissRe is one of the largest insurance carriers on the planet, personnel-wise the NAS Surety Group is a rather small specialty unit comprised of some of the best surety professionals. In turn, they do not work with many agencies direct; only top notch surety professionals have direct access.
As SwissRe’s surety specialists, the NAS Surety Group has an immensely strong backing from their parent company and over $400 million in surplus of their own to back their bonds using both North American Specialty Insurance Company (NAS) and Washington International Insurance Company (WIIC).
As the #1 producer for NAS Surety Group, the JW Surety Bonds claim advocates and NAS Surety Group’s claims specialists work together on a regular basis to resolve claims on behalf of our clients. Their claims unit is agile and responsive to our requests, which provides a very high claims resolution rate. They employ some of the top claims professionals in the industry along with state of the art technology to ensure proper communication, which is always key to properly assess claims and provide positive resolution.
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.