Owning and running a business is fraught with great opportunity and great risk. Comstock offers a variety of insurance products, as well as bonds to ensure that your business is protected no matter what risk, or opportunity, you face.
Bonds, in the business context, are similar to our insurance products – they back up a promise to do something. If the promise is breached, the bond pays off to complete the promise. At Comstock, we specialize in providing bonding services that help to protect the integrity of your business and provide, in writing, a guarantee for the party requesting the bond that your business will uphold its obligations.
The professional and knowledgeable bond specialists at Comstock will work with you to develop a business solution to meet your bonding goals.
Our business bond solutions include:
- Conservator Bonds
- Contractor’s Bonds
- Court Bonds
- ERISA Bonds
- Fidelity Bonds – provide insurance against loss from employee misconduct, such as theft or embezzlement
- Business Service Bonds – protect against theft of a client’s or customer’s property on their premises as a result of your employee’s actions
- Employee Dishonesty Bonds – for fraudulent acts (including theft) committed by employees on the property of your business
- ERISA Bonds – for violations of the Employee Retirement Income Security Act (ERISA)
- Fiduciary Bonds
- Liquor Licenses
- Performance Bonds
- Public Officials
- Surety Bonds – compensates oblige if you fail to perform a job covered by the surety bond or otherwise cause damage or loss to the oblige
Depending on the type of work your business conducts, or for certain other business-related activities and partnerships, you may need to obtain a bond.
Often, contractors, manufacturers, or suppliers are contractually obligated to maintain a surety bond to guarantee their performance. If you have employees working on a customer’s premise, a fidelity bond will protect against them stealing from the client, providing you with the funds to reimburse your client. Pension plans are required by law to have a fidelity bond to protect against dishonesty by those managing the bond.
Sometimes a bond is an obligation and sometimes it is just a good idea to protect your finances. Speak with a Comstock agent to determine exactly what your business needs are.