Commercial surety solutions

Commercial surety from The Hanover

Whether your client is an entity required to post small bonds up to $1 million for low risk obligations, or a business seeking bond programs up to $100 million, Hanover commercial surety has their needs covered with our transactional surety and account surety solutions.  

By strategically placing your transactional bonds with one carrier, you can maximize your carrier relationship, compensation, and ease of doing business. The Hanover strives to be your one-stop-shop for all your transactional surety needs, whether it’s through your local surety underwriter, agency underwriting authority, or via BONDirect.  

Target appetite

Serves businesses and professionals that are required to post bonds up to a $1 million single and $3 million aggregate limit for low-risk obligations. These generally fall into three primary groups:

  • Bond that ensures compliance with statute
  • Court mandated requirement
  • Infrequent bond needs

Bond offerings

Here is a small sampling of the most frequent types of transactional surety bonds we write:

  • Court (fiduciary and judicial)
  • License and permit (contractors, collection agency, mortgage)
  • Lost instrument bonds
  • Medicare DMEPOS bonds
  • Motor vehicle (defective title, dealers, vehicle verifier)
  • Patient trust fund bonds
  • Performance and supply (communications, equipment, technology, professional services)
  • Public official bonds (tax collectors, treasurers, notary)
  • Tax bonds (motor fuel, alcohol, tobacco)

 

Quote and issue online 

BONDirect allows you to quote and issue most transactional surety bonds under $500,000, ERISA bonds up to $1M and business services bonds up to $100K in real time and in one easy transaction.

It rates, underwrites, quotes, and issues a bond within minutes, enabling your agency to distinguish itself with faster, more attentive client service.

 

Commercial surety bonds

Many businesses need commercial surety bonds—manufacturers often need payment bonds, service businesses often need performance bonds, information technology companies often need bid bonds, wholesalers often need custom bonds, and more. With BONDirect you can instantly issue a bond with a maximum limit of $500,000 without underwriter involvement. A sampling of available bonds include:

  • Court bonds
  • License and permit bonds
  • Supply bonds
  • Performance and supply bonds
  • Probate bonds
  • Public official bonds
  • Tax bonds

 

 

Business service bonds

Service businesses with employees that work offsite need the financial protection and credibility provided by a business service bond. For businesses with 25 employees or less, you can instantly issue a bond with a maximum limit of $100,000 in BONDirect without underwriter involvement. Eligible businesses include:

  • Babysitting or nanny services
  • Delivery services
  • Home electronics repair or installation services
  • Home healthcare services
  • Home improvement contractors
  • Janitorial or cleaning services
  • Lawn care services
  • Pet sitting services
  • And more

 

 

ERISA fidelity bonds

Every fiduciary of an employee benefit plan and every person who manages funds or other property of such a plan must be bonded with specific coverage limits. BONDirect makes it easy to instantly obtain an ERISA fidelity bond without underwriter involvement that:

  • Protects your clients’ assets in a retirement plan from acts of fraud or dishonesty committed by an employee trustee of the plan
  • Has a minimum limit of $10,000 per plan
  • Includes an automatic increase feature to ensure compliance with ERISA during the bond term (no additional premium during the current term)

 

Access BONDirect

 

Our dedicated team of experienced surety underwriters understand local markets and business trends, possess deep industry knowledge, and can make underwriting decisions on the spot. They work closely with you to provide products and services designed specifically for the unique risks of your customers. 
 

Target appetite

We provide expert guidance and world-class coverage for all types of surety risks and business types including:

  • Business services
  • Financial institutions/services
  • Food and entertainment
  • Healthcare
  • Manufacturers
  • Real estate
  • Renewable energy
  • Technology
  • Telecommunications
  • Transportation

Bond offerings

We offer solutions for clients seeking bond programs up to $100 million. We issue surety bonds throughout the United States, Canada and Mexico. Bond offerings include:

  • Bid, performance and payment bonds for business services
  • Court bonds
  • Customs bonds
  • Depository bonds
  • Financial guarantee bonds
  • Supply and install bonds
  • Tax bonds
  • Trustee bonds

 

    We offer a wide range of industry-specific commercial surety bonds that complement our property and casualty industry capabilities and help you craft account-focused solutions. Unlock the Hanover advantage.

     

     

    A stable writer

    The Hanover is a leading U.S. surety provider, in the bond business since 1907.

     

     

    Broad range of surety solutions

    Meeting the needs of customers ranging from individuals and smaller businesses to Fortune 2000® companies 

     

    Significant capacity

    Ability to provide large account bonds programs up to $100 million

     

     

    Empowered underwriting

    Responsive commercial surety specialists who understand local markets and have the experience to select the right product

     

    Claims expertise

    Dedicated department specialized in handling surety claims

     

    Financial strength

    “A” ratings from A.M. Best, S&P and Moody's

     

    Transactional surety

    By strategically placing your transactional bonds with one carrier, you can maximize your carrier relationship, compensation, and ease of doing business. The Hanover strives to be your one-stop-shop for all your transactional surety needs, whether it’s through your local surety underwriter, agency underwriting authority, or via BONDirect.  

    Target appetite

    Serves businesses and professionals that are required to post bonds up to a $1 million single and $3 million aggregate limit for low-risk obligations. These generally fall into three primary groups:

    • Bond that ensures compliance with statute
    • Court mandated requirement
    • Infrequent bond needs

    Bond offerings

    Here is a small sampling of the most frequent types of transactional surety bonds we write:

    • Court (fiduciary and judicial)
    • License and permit (contractors, collection agency, mortgage)
    • Lost instrument bonds
    • Medicare DMEPOS bonds
    • Motor vehicle (defective title, dealers, vehicle verifier)
    • Patient trust fund bonds
    • Performance and supply (communications, equipment, technology, professional services)
    • Public official bonds (tax collectors, treasurers, notary)
    • Tax bonds (motor fuel, alcohol, tobacco)

     

    Quote and issue online 

    BONDirect allows you to quote and issue most transactional surety bonds under $500,000, ERISA bonds up to $1M and business services bonds up to $100K in real time and in one easy transaction.

    It rates, underwrites, quotes, and issues a bond within minutes, enabling your agency to distinguish itself with faster, more attentive client service.

     

    Commercial surety bonds

    Many businesses need commercial surety bonds—manufacturers often need payment bonds, service businesses often need performance bonds, information technology companies often need bid bonds, wholesalers often need custom bonds, and more. With BONDirect you can instantly issue a bond with a maximum limit of $500,000 without underwriter involvement. A sampling of available bonds include:

    • Court bonds
    • License and permit bonds
    • Supply bonds
    • Performance and supply bonds
    • Probate bonds
    • Public official bonds
    • Tax bonds

     

     

    Business service bonds

    Service businesses with employees that work offsite need the financial protection and credibility provided by a business service bond. For businesses with 25 employees or less, you can instantly issue a bond with a maximum limit of $100,000 in BONDirect without underwriter involvement. Eligible businesses include:

    • Babysitting or nanny services
    • Delivery services
    • Home electronics repair or installation services
    • Home healthcare services
    • Home improvement contractors
    • Janitorial or cleaning services
    • Lawn care services
    • Pet sitting services
    • And more

     

     

    ERISA fidelity bonds

    Every fiduciary of an employee benefit plan and every person who manages funds or other property of such a plan must be bonded with specific coverage limits. BONDirect makes it easy to instantly obtain an ERISA fidelity bond without underwriter involvement that:

    • Protects your clients’ assets in a retirement plan from acts of fraud or dishonesty committed by an employee trustee of the plan
    • Has a minimum limit of $10,000 per plan
    • Includes an automatic increase feature to ensure compliance with ERISA during the bond term (no additional premium during the current term)

     

    Access BONDirect

     

    Product resources

     

    Let's start a conversation today

    Contact a member of our Hanover commercial surety team who can help you deliver tailored surety solutions for your clients.

    Joellen Mendoza
    Vice President, Head of Commercial Surety
    630-521-8461
    jmendoza@hanover.com

    Tom Harman
    West Region
    206-454-8708
    tharman@hanover.com

    Rory McCale
    Mid Atlantic/Southeast Regions
    484-500-4086
    rmccale@hanover.com

     

    Ryan Bauch
    Central Region
    630-337-6315
    rbauch@hanover.com

    Kim Kelly
    Northeast Region
    315-453-4805
    kkelly@hanover.com