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COMMERCIAL SURETY

Commercial Underwriter – Metairie.
Elizabeth Geraci, (Liz), has been working in the surety industry since 1999. She acquired her knowledge of Surety by working on the agency side at Arthur J. Gallagher in the Bonding Department and at St. Paul's Travelers, as a Commercial and Contract Underwriter. Liz joined Gray Surety in March of 2006.
 

Gray Surety writes Commercial Surety in both The Gray Casualty & Surety Company and The Gray Insurance Company.  The companies are admitted in the following states for the production of Commercial Surety:

The Gray Casualty & Surety Company

Commercial Surety
Alabama
Nevada
Arizona
New Mexico
Arkansas
North Carolina
Georgia
Oklahoma
Kentucky
South Carolina
Louisiana
Tennessee
Mississippi
Texas
Missouri

The Gray Insurance Company

Commercial Surety
Alabama
Montana
Arizona
Nebraska
Arkansas
Nevada
Colorado
New Jersey
Delaware
New Mexico
Florida
North Carolina
Georgia
Oklahoma
Idaho
Oregon
Illinois
Pennsylvania
Indiana
Rhode Island
Iowa
South Carolina
Kansas
South Dakota
Kentucky
Tennessee
Louisiana
Texas
Maryland
Utah
Massachusetts
Vermont
Michigan
Virginia
Minnesota
Washington, D.C.
Mississippi
Wisconsin
Missouri
Wyoming

 

The purpose of most Commercial Surety (or Miscellaneous Surety) bonds is to satisfy government requirements for security. They guarantee compliance with obligations imposed upon principals (applicants) by law. Other bonds grow out of private and corporate needs.

Gray Surety provides a wide variety of Commercial Surety products.  Below is a small sampling of the types of bonds that are available.

License & Permit Bonds

Bonds required by state law, municipal ordinance or any other statutory type regulation by a governmental entity as a condition precedent to granting a license to engage in a particular business or the granting of a permit to exercise a particular privilege.

Fiduciary Bonds

These bonds are required of administrators, executors, guardians, trustees, and committees. The bond guarantees an honest accounting and faithful and legal performance of duties such as managing the affairs of others or distributing a deceased’s assets. Fiduciary bonds which are sometimes referred to as probate bonds are required by statutes, courts, or legal documents for the protection of those who are acting in the capacity of a fiduciary.

Court Bonds

All bonds and undertakings required of litigants to enable them to pursue remedies made permissible by the courts. These type of bonds fall into two broad classifications. A plaintiff bond guarantees payment of damages suffered if an action is decided in favor of a defendant. A defendant bond guarantees payment of damages suffered if an action is decided in favor of the plaintiff. In either case, the court determines the amount of the bond(s).

Public Official Bonds

Public official bonds are bonds guaranteeing public official’s faithful performance of duty. These bonds are required by law or statute of the respective municipality, parish, county or state. Bonds falling under this line of business include Mayors, Clerks, Treasurer, Tax Collector, Deputies and notaries.

Miscellaneous Indemnity Bonds

These bonds guarantee a principal will perform a defined agreement. It is often used as term to refer to bonds which do not fit any of the other categories of Commercial Surety Bonds.

 

 

Metairie Office
2750 Lake Villa Drive
Suite 300
Metairie, Louisiana 70002
Phone:(504) 780-7440
Fax: (504) 780-9211

Birmingham Office
100 Centerview Drive
Suite 141
Vestavia Hills, Alabama 35216
Phone: (205) 822-9056
Fax: (205) 822-7852

Phoenix Office
1 East Camelback Road
Suite 550
Phoenix, Arizona 85012
Phone: (602) 354-3117
Fax: (602) 354-3360

  Naperville Office
24024 Brancaster Drive
Naperville, Illinois 60564
Phone:(630) 428-9370
Fax: (630) 428-9372
Reno Office
1575 Delucchi Lane
Suite 115-105B
Reno, Nevada 89502
Phone: (775) 825-1700
Fax: (775) 825-0800
Representing: The Gray Casualty & Surety Company and The Gray Insurance Company
©2011 Gray Surety