Surety is not insurance. It is more closely related to the commercial lending practice of financial institutions. As such, a surety needs to satisfy itself that the party they are bonding has the experience, financial and capital resources necessary to perform their obligations. Further, if called to pay out under a bond, a Surety will seek recovery for their losses under an indemnity agreement or other security typically taken at the start of the relationship.

A surety bond is a guarantee of performance of an obligation. The bond itself gives rise to a three party relationship where the Surety agrees to fulfil the obligations of the Principal (the ‘insured’ or bonded party) to the Obligee (the beneficiary of the bond), in the event the Principal is unable to do so. The Surety stands behind the Principal as a guarantor or ‘co-signer’. The Surety typically does not become involved unless the Principal is in legitimate default of their obligations to the Obligee, at which point a claim is made under the bond and the Surety steps in to remedy the failure to perform.

The uses and application of surety bonds are unlimited. Obligations of almost any nature can conceivably be bonded, however, the mainstream use of this product can be classed into three types, Commercial, Contract and Developer Surety.

We Are Motivated. At Trisura we want to write business, even in a tough economy. We recognize that when our brokers and their clients grow and prosper, we do the same. We find innovative ways to incorporate all the merits of an account into our decisions and look for ways to say ‘yes’ rather than ‘no’. Moreover, we continually look for ways to make it as easy as possible to do business with us. We are entrepreneurs, know how to work with other entrepreneurs and recognize that one approach does not satisfy every scenario.

We Are Experts. When you speak to one of our underwriters, you can instantly appreciate how a true expert can help find solutions to write business. Whether it is a new account or a complicated bond request, we empower our front line underwriters to make intelligent decisions and to provide immediate and exceptional service to our brokers and their clients. While the industry is laden with inexperienced underwriters, our team is composed of seasoned underwriters who bring with them knowledge and expertise from a variety of disciplines. You will find that we are solution focused rather than process driven.  Every situation may require it to be viewed from different angles and yet that will still ensure a consistent and disciplined underwriting approach.

We Are Partners. We develop relationships with our brokers and their clients. It’s the inherent core of our value proposition. We truly believe we are your business partner and as such we don’t just filter through financial information and applications. We meet with you and your clients, hear their stories and find ways to grow all of our businesses in a shared spirit of entrepreneurialism. We are a broker company. Our premiums and in turn our profits are derived exclusively from our broker relationships. We choose our broker partners carefully from among those most informed in the industry in our product line, because let’s be honest; we only partner with the best!

We maintain the long view and as such will be with you through the ebbs and flow of the business cycle and valuing long term commitments and business relationships.

We Are Canadian. When an account is submitted, it is underwritten by our experts here in Canada, not a foreign head office. We underwrite and make decisions based upon an intimate understanding of your marketplace. Our branch network keeps us on top of the challenges and nuances specific to your particular region.

We Are Trisura. Surety is what we do. We underwrite with skill, purpose and urgency. We aspire to be your surety of choice.