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Bonds
Leonard Insurance primarily provides products for three bond segments:
Commercial Risk: Targeting businesses of all
sizes, non-profit organizations, governmental entities, and
individuals for crime insurance, surety bonds, and liability
insurance products
Construction Services:
Targeting contractors for their surety business
Financial Services: Targeting financial
institutions for crime insurance, surety bonds, and
liability insurance products
Contact Leonard Insurance to learn more about the specialty insurance and
surety products that are available.
Contract
Surety Bonds
Protects an owner (obligee) from the failure of a
contractor (principal) to perform contractual obligations.
Most Common Types of Bonds
- Bid
- Performance and Payment
- Supply
Advantages
- Significant capacity
- Stable market
- SBA Bond Guarantee Program
Target Markets
- Emerging/Small Contractors
- Mid-sized Contractors
- Well-managed firms demonstrating management and
financial qualities for continued success
Underwriting Specialties
- Heavy Contractors
- General Contractors
- Computer and Technology Companies
- Service Businesses
Commercial Surety Bonds
Protects a third party (obligee) from the failure of an
insured (principal) to perform or fulfill a prescribed
obligation.
Most Common Types of Bonds
- License and Permit
- Probate
- Court-plaintiffs/defendants
- Self-Insurers Workers' Compensation
- Lost Instrument
Advantages
- Significant capacity
- Tailored programs
- Bulk billing
- Multi-term billing discounts
- Licensed in all 50 states
- International capabilities
Target Markets
- Commercial Companies of all sizes
- Non-Profit Organizations
- Individuals
- Associations and Franchises
Underwriting Specialties
- Banks and Insurance Companies
- Cable Television Companies
- Coal/Oil/Gas Utilities
- Computer and Technology Companies
- Health Care Organizations
- Retail Businesses
Leonard Insurance: Fidelity/Crime Insurance
Protects against Employee Dishonesty,
Forgery/Alteration of outgoing checks, Theft, Disappearance
and Destruction of money and securities, and Computer
Fraud.
Product Features
- Primary or excess
- Significant capacity
- Blanket protection on all employees
- Per occurrence coverage with no aggregate limit
- Multi year policy for most small and mid-sized risks
Coverage Enhancements
- Third-Party Fidelity
- ERISA Fidelity with Inflation Guard
- Worldwide
- Volunteers and Outside Directors added as employees
Target Markets
- First-Time Buyers
- Commercial Companies of all sizes
- Non-Profit Organizations
- Associations and Franchises
Underwriting Specialties
- Manufacturers
- Professional Firms
- Service Businesses
Public Official Bonds
Guarantees the Public Official will faithfully perform
the duties of his/her office.
Types of Bonds
- Statutory surety bonds for individual public officials
- Blanket fidelity bonds for public entities
Advantages
- Significant capacity
- Bulk billing
- Optional coverages including Forgery/Alteration, Money
and Securities, and Computer Fraud
Target Markets
- Individual Surety Bonds for elected or appointed
positions
- Tax Collectors
- Treasurers
- Town clerks
- Notaries (Surety and Errors & Omissions coverage)
Blanket Fidelity Bonds covering all other public entity
employees
- Towns, Cities, Villages or other Municipalities
- State Universities or Colleges
- School Districts
- Fire, Water and Light Districts
Finding the most suitable cover for your needs is a highly professional business. Contact Leonard Insurance
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