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The Construction Connection - California Contractor News, Notes & Legislation

Western Surety Company Contractor Bonds

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Being that a surety bond is a financial investment, it’s understandable that contractors want the best service and terms. At Surety First, we partner closely with the underwriters of Western Surety Company, now part of CNA Surety, to provide our clients with quality bond agreements and customer relationships. Read on to learn more about these bonds and why Western Surety Company is a trusted industry leader. 

How Do California Contractor License, Permit, & Contract Bonds Work?

Certain bonds are required for contractors to legally perform work. A surety bond is essentially a contract between three parties: an obligee (party needing the bond), principal (party requiring the bond), and a surety (party providing the bond). This contract protects the contractor, which would be the obligee, and the party hiring them, which would be the principal, from damages and financial loss in the event work is not completed or isn’t completed per the terms outlined. To guarantee that a contractor will fulfill the contract, the principal will require a surety bond before the project begins, with the third-party surety would act as financial backup in the event of damages or loss. If the contract terms are not fulfilled, the surety will pay the principal the damages or losses. However, the obligee will have to repay the surety. 

These bonds are often a prerequisite for government construction jobs, and some states, like the state of California, require them to receive a business license. Some of the most common types include:

What Is the Western Surety Company?

The Western Surety Company was founded in 1900 and was initially an insurance company focused on court bonds. Over the years, it expanded to cover a variety of different areas of practice, making it the national leader of small, miscellaneous fidelity and surety bonds. It became a part of CNA Surety in 1992 and now focuses primarily on commercial and contract surety bonds, helping provide bonds to contractors, like the ones listed above. 

Is Western Surety Part of CNA Surety? 

Yes, and since being owned and operated by CNA Surety, Western Surety Company has benefited from being part of the CNA Insurance Group. This allows it to share in the excellent financial and underwriting security of such a knowledgeable and respected group. Under CNA Surety, it provides a range of surety and fidelity bonds in all 50 states, Canada, and Puerto Rico. CNA Surety has a combined network of 40,000 agencies, so it has the capacity and experience to serve a full range of both large and small bonding needs. As part of CNA Surety Underwriters, Western Surety Company is a part of one of the largest writers of surety bonds in the United States. 

Is Western Surety Company Reliable?

Western Surety Company bonds are among the most reliable in the industry. Western Surety Company is highly respected for its expert underwriting and market leadership. CNA Surety is one of the highest-rated insurers in the country, and as a member of their network, Western Surety Company shares those high ratings. As a subsidiary of the CNA Insurance Group, Western Surety Company has an AM Best Rating of A (Excellent) and a Standard and Poor’s Rating of A+ (Stable). As of 2021, Western Surety Company also has a Fitch Insurer Financial Strength Rating of A+.

Advantages of Using Western Surety Company for Your Contractor Bonds

The Western Surety Company offers a high level of reliability and experience due to its long and diverse history in the business. Working with a surety with such an extensive history means you’re more likely to receive creative solutions that are timely and expertly handled. Working with a large network also means underwriters have the capacity to help those in urgent need of bonds. Customer relationships are a priority for Western Surety as well, which has operated an industry-leading call center for over 30 years. 

Our aim at Surety First is always to honor our clients with top-quality services, which is why we enlist the underwriting credibility of Western Surety Company. This partnership is a testament to the fact that when you work with Surety First, you get the best. To work with Surety First, get a quick, free quote for your bonding needs. 

About the Author:

Shortly after graduating from the University of California, Los Angeles with a bachelors degree in economics, Jeremy founded Surety First Insurance Services (formerly Schaedler Insurance), a Northern California based insurance agency specializing in surety bonds for California construction professionals. Jeremy is happily married and the proud father of two young boys. In his free time, he enjoys camping, fishing and shooting the breeze with friends and family.


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