That means no medical exam and health questionnaire needed to be covered. Magbibigay tulong pinansyal din ito sa pagpapalibing sanakaseguro at kapamilya nito. These bonds are part of business risk management. Protects against financial loss due to dishonest/fraudulent acts of regular employees. Our superior travel insurance provides comprehensive personal assistance anytime, anywhere. Covers your life and protects your savings with a Variable Unit Linked policy whose investment fund has two components that provide a guaranteed amount and long term growth through variable returns. InstaLife is an investment and life insurance plan with an Automatic Acceptance feature. Plan for a business trip easily and get the right protection for you and your employees during your trip. Protects ship repairers against legal liabilities due to loss of or damage to a vessel being repaired under their care, custody and control. Covers the expenses incurred from loss or damage to various cargo during in-land transit, against truck risks (perils of the road) and/or robbery/hijacking. Protects tournament organizers from the cost of awarding a hole-in-one prize during a tournament. Established in 2010, our company has grown to become one of the top online bond producers in the country. Provides life insurance coverage for debtors who have outstanding loans with creditors, paying up to the extent of outstanding loan balance. Surety Bond for Real Estate Professionals (Consultants Appraisers Brokers Agents) PRC Surety Bond (P1 950) P20K Good for 3 Years HLURB Surety Bond (P500) P5K Yearly Renewal In partnership with ALPHA Insurance & Surety Company. permitted under this surety bond as long as the claims in the aggregate do not exceed the value of this surety bond. Regulations (IRR) of Republic Act (RA) No. Film and TV Production Comprehensive Insurance. Provides coverage to port/terminal operators for third party liabilities such as cargo, contractual liabilities and liabilities to authorities. You are instantly insured upon application and payment of the first premium. Still, the surety experts at SuretyBonds.com have developed a system to make getting a free, no-obligation bond quote as easy as 1, 2, 3! Offers comprehensive protection against physical loss or damage to a building, construction plant and/or machinery in relation to contract works and other civil engineering works. Protect your business with a comprehensive package designed for business owners and entrepreneurs. The contract surety bond protects the obligee, the project owner, from harmful business practices and failure of the contractor to finish or to properly complete the specified work. The three parties in a surety agreement are: Protects the buyer or seller against damage, destruction or loss of goods being transported. Add protection and security to your business. Protect yourself and your investments from loss. There’s no need to worry because you can rely on BPI/MS at all times. Renewal or Modification of CBA’s Effect on Surety Bond: The renewal, extension or modification of the CBA shall not invalidate or otherwise modify this surety bond. When diagnosed with Leptospirosis , an insured can claim P10,000 lump sum medical cash assistance, even if the condition does not require hospital confinement. A contract of suretyship or surety bonds is a universally accepted form of instrument of guarantee whose purpose is to secure compliance and performance of an obligation or undertaking required by law or contract. SmartStart is a regular pay variable life insurance plan that insures expectant mothers against complications that may arise during pregnancy and provides insurance benefits for the child upon birth up to age 99. For more information, call our Client Service hotline (02) 8876 - 4400 or email us at teleservice@mapfreinsurance.com.ph. In many cases, businesses are actually required to obtain both a surety bond and a relevant type of insurance. Protects against legal liability to third parties arising from accidental property damage and/or bodily injury while doing personal activities. Surety Bond. Shows your loved ones how much you care in a gift card that comes with Personal Accident coverage. Concerned with the principal peril of fire. Examples of judicial bonds are court bonds and fiduciary bonds. Provides personal accident coverage for qualified individuals belonging to a company or organization. Provides comprehensive coverage for migrant workers including benefits for accidental death and disability, medical evacuation and repatriation of remains. At Surety Bonds PH, we guarantee you to find the right surety bond that fits your requirements. Additional P100 for LBC courier (NCR). With the amount you’re investing into your production, it would be wise to make sure you’re financially protected for any unexpected events. Although the surety bond market is a significant component of the insurance industry, little information is available to advise people on how to apply for a surety bond. Javascript must be enabled for the correct page display. CrisisGuard covers loss or damage caused by terrorism and other political violence perils. Protects the innocent mortgagee from financial loss consequent to the mortgagor’s act or omission that prohibits the mortgagee from claiming under the standard Hull & Machinery, War & Strikes or Protection & Indemnity insurances. 244 issued May 31, 1957 and signed by the late President Carlos P. Garcia. Hold CTRL (for Windows) or Command (for Mac) to select multiple items. Offers a comprehensive insurance package in case an accident or damage occurs in your home in either a single detached home; townhouse; condominium unit; apartment. We also offer FREE additional benefits such as personal accident, general liability, and money insurance coverages. In surety bonds, the insurance company promises to answer financially to the obligee for the debt, default, or misconduct of the principal. Are you looking for accident insurance for your employees? What Does a Surety Bond Mean? Machinery Loss of Profit (MLOP) following Machinery Breakdown (MBI). Provides coverage geared specifically to the operation of aircraft and the risks involved in aviation. At FPG Insurance we have developed corporate insurance products that protect businesses from unforeseen disruption. Recovers expenses incurred in establishing or resisting claims involving a ship entered into this coverage. A surety bond (pronounced "shur-ih-tee bond") can be defined in its simplest form as a written agreement to guarantee compliance, payment, or performance of an act.Surety is a unique type of insurance because it involves a three-party agreement. In finance, a surety / ˈ ʃ ʊər ɪ t iː /, surety bond or guaranty involves a promise by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults. Covers your legal liability for vehicular accident-related bodily injury/death to a third party. Surety (downpayment) bond - Guarantees the recoupment of the downpayment given by the obligee to the principal through deductions from the progress billings … Today in the Philippines, surety premium rates are subject to minimum tariffs. Protect your business assets and goods while these are transported from one destination to another. Examples of contractor's bonds are the bidder's bond and performance bond. When diagnosed with Dengue, an insured can claim P10,000 lump sum medical cash assistance, even if the condition does not require hospital confinement. This cover can also be extended to include damage to own property and equipment and business interruption. Application and requirements (attached) PARTIES TO A BOND Surety bond is not an insurance policy; the surety will seek to reclaim the funds, plus any legal fees, from the principal. While both surety bonds and insurance guarantee financial compensation in the case of unforeseen events, being bonded means something completely different for your business than being insured. Provides insurance coverages for a defined group of people, such as members of professional associations or employees; coverage includes life insurance, health insurance, and/or other types of personal insurance. Being one of the most reputable companies in the country, Travellers Insurance & Surety Corporation (TRISCO) provides bond requirements for the following: BIDDERS BOND This type of bond is most commonly prefered by contractors because this is more efficient and they do not have to be connected to any bank credit lines during the bidding process. A contract to supply material and equipment for construction work is placed for public bidding. Work with our experts to complete a bond application. Providing the construction project owner with the assurance that the contractor will perform all agreed obligations. The FPG Insurance Surety Bond is one such product that acts as a risk transfer mechanism. Protect your residential, commercial or industrial property and its contents against fire/lightning, natural perils like earthquake, typhoon and flood, and other man-made causes. Protects the individual and their family from unexpected expenses related to sickness, accidental injury, or accidental death; insurance coverage may include payment of hospital and medical expenses, as well as income payments. The implementation was ordered by then-Insurance Commissioner Francisco Mandanas. Is a regular pay variable life insurance plan that allows you to build a significant amount of funds for future use by contributing to it in just three years. Let’s start with the basics, for those of you who are new to the world of surety bonds we’ll outline what a surety bond is and what businesses may need to secure one. [27364] Protect yourself against medical expenses for the treatment of accidental injuries, illness or chronic conditions. Surety/Bonds. Malayan’s Surety Bond is not a contract of indemnity, but a contract of guarantee. Protects against legal liability to third parties while conducting professional duties resulting from ‘breach of professional duties’. #2 – Fidelity Surety Bond – This type of bond is taken by the companies for protection from employee theft and from dishonest actions. Filed by a party who is either a plaintiff or defendant in a litigation case that guarantees that he will honor or pursue the legal remedies of the courts. Insures the pilots/co-pilots and/or passengers for death, permanent total disablement while flying, embarking or disembarking from the aircraft. In the case of surety bond the contractor is a bail bondsman. Protects you and your business against financial loss due to crime, damage to property, legal liability and other special risks. Protects insured vehicles from the financial losses that arise from damages, theft, injuries and other liabilities. Covers shipyards against loss of or damage to a ship under construction – from keel laying until the ship is turned over to the ship owner. Surety bonds were first tariffied on July 1, 1960, when the schedule of rates previously approved by the secretary of finance on February 26, 1954, went into effect. In partnership with the top Non-Life Insurance and Surety Firms, we guarantee that you get the reliable service that you deserve because we understand that assurance is what you and your clients need. Surety Bonds Philippines aims to be the most trusted Surety Bonds service provider in the country. Lance Surety Bond Associates, Inc. is a Pennsylvania-based surety bond agency that offers bonding at competitive rates in all 50 states. The bail bondsman then contacts the surety company they work with to borrow the cash to post your bail. Covers your life and protects your investments in a flexible policy that allows you to maximize either protection or investment, with fixed premium payments. From the point of view of surety companies, these are: 1) the Bidder’s Bond; 2) the Performance Bond; 3) Warranty Bond for the procurement of … Covers legal liabilities associated with the operation of a vessel that a shipowner may be exposed to. Offers full protection against the risks involved in the erection of machinery, plant and any steel structures and electro-mechanical works. With all the details you have to take care of, allow us to take one worry off your back with a comprehensive insurance package created especially for event producers. Covers loss of income on a daily basis as a result of temporary suspension of the vessel’s operation due to a casualty recoverable under the vessel’s Hull & Machinery policy, excluding total loss. This is because BPI/MS carries with it the stability and reliability of two very respected leaders: Bank of the Philippine Islands and Mitsui Sumitomo Insurance of Japan. Now available at Motortrade branches in Cebu and Bohol. Let us do all of the hard work for you. A surety bond is a loan you receive to post bail. A fidelity bond promises to reimburse the employer (the obligee) for any loss of money or property that the employer might sustain due to the dishonest acts of the employee (the principal) named in the bond. Fill out our quick online instant contact form. Covers movement or transportation of cargo or any moveable properties by means of an aircraft. Deterioration of Stocks (DOS) following a Machinery Breakdown (MBI). Provides accident insurance on an all risks basis, covering sudden and unforeseen loss or damage, which physically affect EDP, office, communication, graphics industry, broadcast and television, and other miscellaneous electronics equipment. Provides for losses or damages arising out of war, civil war, rebellion, strikers, and terrorism, as complementary cover to a Hull & Machinery policy. Responds in the event of a total loss of a vessel as an extension to a ship’s Hull & Machinery policy. For Contracts and Other Business Agreements. For more information, call our Client Service hotline (02) 8876 - 4400 or email us at teleservice@mapfreinsurance.com.ph We have a group personal accident insurance solution that you may customize based on the coverage you want for your employees. The participants to such bidding are required to post a bidder's bond, which guarantees that if the principal is successful in his bid, he will enter into a contract with the obligee. We have business establishment insurance that protects your business assets. Safeguards the risks faced by the ongoing construction project, installation project, and machines and equipment in project operation. #1- Court Surety Bond – This type of bond used to provides safety from loss which can occur in case of court proceedings.These bonds are required before a court proceeding. Please select the product you wish to inquire if applicable. Protect your interests as shipowners, managers, operators, bareboat charterers, mortgagees, and shipyard owners. Protect your equipment and the construction works of your business. A contract surety bond is typically used to guarantee the performance of a contractor, who is the principal, for a construction contract. Ang Sagip Plan ay programang handog ng CARD Pioneer Microinsurance Inc. nanaglalayong makapagbigay seguro sa masang Pilipino mula sa pagkamatay dulotng aksidente. Before an Insurance Company can issue Government bonds or acts as Surety in an undertaking It must have an administrative order issued by the Office of the President of the Philippines and Our Company acquires that AO No. With over 50 years of experience, we pride ourselves for having earned a solid reputation as a highly dependable and reliable company committed to delivering outstanding products & … Protects against loss of money used for business operations, in case of robbery/hold-up, burglary, brigandage. Covers movement or transportation of cargo or any moveable properties through dry land by means of LTO-registered vehicles. A surety specialist will contact you within 24 hours. Protects the owners against losses caused by damage or destruction of waterborne crafts. We have several surety bonds available depending on the needs of the business venture. Filed in a court of law in accordance with a statutory requirement. 9184, surety bond is one of the acceptable forms of bid, performance, and warranty securities, provided it is callable upon demand and accompanied by an Insurance Commission Certificate stating that the surety and/or insurance company is authorized to issue such bond or security. Insurance protection for professional operators of Unmanned Aerial System (UAS) against damages to their equipment and legal liability for bodily or property damage to a third party. All-in-one insurance for you and your motorcycle. Preserves your wealth and covers your life as it takes advantage of growth opportunities while linked to expertly managed funds. Covers machinery, mechanical equipment and apparatus against accidental breakdown. Pioneer underwrites bonds or contracts of surety in which case one party (the surety) guarantees the performance of a primary obligation required by law or a contract by another party (the principal) in favor of a third party (the obligee). Depending on your credit score, you might pay anywhere between 1-15% of the total bond amount.. That's right; you do not have to pay the full bond amount to get bonded. How Surety Bond Rates Are Calculated. Covers the Insured’s legal liability arising out of their ownership and/or operation of the aircraft. We have motor vehicle insurance solutions for fleet accounts that provide comprehensive coverage for a group of automobiles. Having background knowledge of surety bonds and the associated application process will save time for both yourself and your surety provider. Find the right insurance solution for your business. Protects against loss of property while inside residential or business premises. Provides both life insurance and investment components; The insurance component pays a predetermined amount when the insured individual dies, while the investment component builds an accumulated cash value the insured individual can borrow from or withdra. We also have solutions that provide protection for on-going construction and other civil works. Covers loss or damage to aircraft engines, spare parts and equipment, aircraft spares kits and engineers’ and mechanics’ tools. BPI/MS is one of the leading and trusted non-life insurance companies in the country. Provides insurance protection for motor vehicles, motorcycles or fleet of vehicles against loss in the event of an accident, theft, or damage caused by natural occurrences. Protect the vehicles that help run your business. When a contract is awarded to a contractor to undertake construction work for the obligee, the contractor is required to post a bond which will guarantee that the principal (the contractor) will perform the job according to the terms and condition of the contract and within the period specified. An agreement whereby one party called the Surety, for a Valuable consideration or free known as premium, binds himself to guarantee the performance of another party called the Principal or Obligor of an obligation or undertaking in favor of a third party called the Obligee. MAPFRE INSULAR Insurance Corporation © 2016. Cover yourself for the mishaps that can occur on the golf course. Assures that obligations of an individual or a company under a contract will be fulfilled. Covers the costs and losses, and reduces the risks associated with unexpected events you might incur while traveling domestically or abroad. Unlike insurance, this is a contract or an agreement drawn up by the insurance company (called surety) to guarantee the performance of an obligation or undertaking by another party (called principal, who is the insurance company's client) in favor of another party (called obligee) to whom the principal has an obligation to perform. Get Covered Today! Contract Surety Bond. Secures the life and savings you’ve set aside to fund long-term goals such as education and retirement; linked to expertly managed funds. Covers loss of or damage to the aircraft owned and/or operated by the Insured, as caused by war and associated perils. Provides coverage for students and other individuals within a school setting. The List of Insurance Companies Accredited by the BOC for the Issuance of the Surety Bond, as of 08 January 2002, is herewith attached as Annex E. The BOC-NAIA Bonds Division (Attention: Director Dina Viernes) is continuing with the accreditation of other Insurance Companies and shall make the appropriate announcements on additional accredited insurance companies. Protects fleet owners from the financial losses that arise from damages, theft, injuries and other liabilities in relation to their insured vehicles. Protect yourself and your investments from loss when entering into a bond, including: LICENSE AND PERMIT BONDS; FIDELITY BONDS; BIR BONDS; CONSTRUCTIONS BONDS; JUDICIAL BONDS; GENERAL SURETY BONDS For more information on Surety Insurance, kindly Covers the expenses incurred from loss or damage to moveable property such as heavy equipment, machines, portable electronic equipment, paintings. Responds to legal liabilities, plus other related costs and expenses, that a time charterer of the insured ship may be held legally liable for. Provides lump-sum cash benefits upon diagnosis of any one of 35 defined critical illnesses. We have a range of insurance solutions that provide coverage for the many assets of the business or company. The bail bondsman meets with you and agrees to post bail for you. Covers the movement or transportation of cargo or any moveable properties through navigable bodies of water by means of a vessel. Offers bite-sized insurance products that provide both life and property protection to an individual and his family at minimal cost. Alpha Insurance & Surety Company, Inc. ranks among the leading and more stable insurance providers in the country. Covers you from the expenses arising from accidents. Reliance Surety and Insurance Co., Inc., a non-life insurance company in the Philippines and was established in 1952, continues to assure its stakeholders and policyholders of safer tomorrows – a commitment borne out of the company’s adherence to its core values of Excellence, Integrity and most importantly, Reliability. See More Protects migrant workers in case of accidental death and disability, medical evacuation, and repatriation of remains, as mandated by RA 10022. A fidelity bond promises to reimburse the employer (the obligee) for any loss of money or property that the employer might sustain due to the dishonest acts of the employee (the principal) named in the bond.