Question

Define the following types of offices in the Insurance Industry

Full bonding service/

Financial institutions Bonds/

Director’s and Officers Liability/

Answer 1

1. Full bonding services: These servives provides the most complete surety bond and undertaking services. Also, we can write bonds in all federal courts throughout the United States.

2. Financial institution bond: This type of bond is used to insure banks and other financial institutions against employee dishonesty, burglary, robbery, forgery, and similar crime exposures.

3. Directors and officers liability Insurance: It is a liability insurance which is payable to the directors and officers of a company, or to the organization itself as reimbursement for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for alleged wrongful acts in their capacity as directors and officers.