What is the Difference Between Surety and Insurance?

Surety bonds are contracts of guarantee, not contracts of insurance. They are provided on recourse terms, meaning that if the Surety has to pay the Employer under the bond, it is entitled to seek reimbursement from the principal or Contractor.

Nationwide Sureties helps clients understand the distinction between surety and insurance, ensuring they choose the right type of protection for their projects and obligations.

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