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Talisman Insurance Surety Program: 4 Things To Know




As the insurance industry is a risk transferring process from one party to another, there is another principle known as surety. In financial terms, this is where one party guarantees to pay any constrained debt payments of another party. This can as well be considered a sort of risk transferring process as the risk of guaranteed payments is being made with terms of guarantor.

However, instead of a risk transferring process, the better term to use can be protection given to its clients through surety.

Talisman Insurance Surety Program

This is a principle that might interest many investors or those looking to get a loan for their business, real estate, construction, or any other legal activities. To start, this insurance surety program is really about assisting those customers in need, who are unable to partially fulfill their contractual obligations in which they are constrained.

It is said that this program is designed for the very specific reason to help their captive clients in avoiding any failures over their contract.

With this being said, here are 4 things to know about this surety program.

Different Types of Surety Bonds

Talisman insurance comprises of 3 main types of surety bonds which include:

  • Payment and Performance bonds: A surety bond that provides protection for the owner, who is guaranteed that his/her workers, as well as suppliers, will perform the given job in line with terms of undertaken signed.
  • Compliance and Licensing: This is a bond that helps the owner, where clients gather permits for their business or any other legal activities and maintain their professional license.
  • Court and Legal Bonds: This is a bond that helps clients deal with multiple court-related cases.

There are other bonds which include environmental bonds, customs bonds and many others for coverage.

Surety Is Not an Insurance

It is not really considered insurance because the coverage is not a risk transfer but rather it is a protection. It is more related to the finance side, where it acts as a credit instrument, even though it is provided by insurance companies. Insurance compensates for the losses and gets in agreement with you, while surety takes responsibility for your contract.

Automatic Contract Among 3 Parties

Involving surety becomes an automatic contract among 3 parties where if an individual fails to meet any contractual obligations, then surety comes in to fulfill that obligation. The 3 parties include the surety, the individual (unable to meet their obligation), and the obligee (whom the obligation is owed to).

Closest to Captive Insurance

The reason why it is closest to functioning like captive insurance is because it is capable of providing credit for the whole corporation and even an individual.


As insurance is a risk transferring process that indemnifies individuals, surety provides protection from failure to meet any contractual obligation. Talisman Insurance Surety Program is all you need If you, whether individual or business are facing trouble to fulfill any agreement of your contract.


I'm Nikos Alepidis, blogger at motivirus. I'm passioned for all things related to motivation & personal development. My goal is to help and inspire people to become better.

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