Bonds

There are more than one type of bond. Insurance bonds are normally three-party contracts in which one party agrees to guarantee the act, performance or behavior of a second party to a third party. Two common type of bonds are fidelity and surety.

ERISA Bonds (Employee Retirement Income Security Act of 1974) - This act is sometimes known as the “pension reform act”. One of the purposes of this act is to force employers to protect the assets of the business that have been designated as employee pension benefits. This act requires the employer to obtain a bond for a minimum of 10% of the assets of the plan, whether it be a pension plan, 401K plan, etc. At GNG we will assist you in obtaining the necessary coverage to satisfy this requirements.

Some of the other types of bonds we can assist you with are:

  • Construction Bonds
  • Court Bonds
  • License & Permit Bonds

 

 

 

 

 

 

 

 

 

 

 

The Right Coverage

Our experienced team can analyze your insurance needs and suggest the best options, using some of the finest local and national insurance companies.

Contact us today for a complimentary insurance review for your home, family and business. Use the quick contact form below, or call 914.779.0500, 800.734.5578.

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