OUR PRIMARY BUSINESS – Performance and payment bonds for the construction industry.
PURPOSE – Performance bonds are a financial tool to guarantee that in the event of a developer or contractor’s default, funds are available to finish the construction and ensure its proper function.
REGION – Our markets will consider risks throughout North and South America, Caribbean and Western Europe.
BOND SPECIFICATIONS – We only place bonds that are equal to or greater than $1,000,000 USD.
NO CREDIT CHECK REQUIRED!
• Complete an underwriting application see download application page including a copy of the contract which requires the bond and three years of your corporate financial statements.
• If the application is accepted, a consulting agreement will be required.
• At the request of you (the client), the insurance company will issue the bond on the date desired. The premium for the bond, paid in full will be due.
All Risk Insurance Group is proud to announce the launch of All Risk Bonding Group & MyBonding.com, a site dedicated to educating customers on their performance bond options. A performance bond is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor.
Performance bonds are commonly used by the construction industry for the purpose of securing a guarantee of completion. “With construction and development starting to rebound from recent market lows, we felt now was a good time to focus on these bonds that are so important to the overall economic recovery,” All Risk Insurance Group’s CEO Randy Schleger shares.
The market for performance bonds is far from new. Performance bonds have been used for thousands of years, with the Romans developing laws of surety around 150 AD, with many of the same principles still existing in today’s surety bond products. The recent fallout from our globally depressed economy has left many general and sub contractors with significant underwriting issues in their profile. Many contractors have found that their bond lines are no longer in place or more limited than ever before. Most contractors are frustrated in that they have successfully completed similar work in the past, but still find themselves facing difficulty in obtaining performance bonds. In this tough time for contractors, All Risk Insurance Group is here to help. For experienced contractors looking to rebound from the recent recession, our program does not require credit checks, which can prove to be helpful for those contractors who have been turned down by other bond markets.
“As an independent insurance agent, we have access to multiple AM Best rated domestic and international rated markets. Our independence allows us to find solutions many times when other agents are unable to do so,” shares Schleger. “If you’re a contractor that has had difficulty securing performance bonds for the future of your business, we look forward to the challenge and pride ourselves on having a high degree of options to work with”.
To find out more about how All Risk Insurance Group can assist you with your bonding needs, visit http://www.mybonding.com or call 561-395-5220.
About All Risk Insurance Group
Based in Boca Raton, Florida, All Risk Insurance Group, Inc. was founded in 2006 and is one of the leading independent insurance agencies in the U.S., offering personal, commercial, & specialty insurance coverages through multiple carriers. Led by CEO Randy Schleger, the dedicated team of professionals at All Risk Insurance Group has over 50 years of combined experience in the insurance industry.