Bond insurance or “financial guaranty insurance” is a type of insurance whereby an insurance company guarantees scheduled payments of interest and principal on a bond or other security in the event of a payment default by the issuer of the bond or security.
There a various types of bonds such as:
License and Permit Bonds
Public Official Bonds
Fiduciary or Probate Bonds
Connell Insurance Agency, Inc. – “Protecting What’s Important To You”