Surety Bond

#1
Hello All.

Can anyone recommend a good company that specializes in Surety bonds for Canadian transportation brokers.

I've noticed an extreme increase this year. just looking at different options.

Thanks.
 

loaders

Site Supporter
#2
We use The Guarantee Company Of North America, 954 Dundas St. Woodstock, ON 519 539 9868. The bond is obtained through our insurance broker, so I am not sure if you can go direct to this underwriter or not. The premium for us last year runs around $3000.00 for the 75k bond. I wouldn't be surprised if the rates have or will be going up this year. If you find someone who offers the bond at a significantly lower rate, please let us all know. As a broker, you know we're always looking for the "lowest rate"!
 

loaders

Site Supporter
#4
Agreed Mike Jr. We use Marsh Canada for all of our other insurance needs, contingency cargo, general liability, errors and omissions, etc. Very knowledgeable and great to deal with.
 
#5
Thanks guys for sharing.
I'm at Approx 2400.00 per year for 75000. which is up about 300.00 from last year.
If interested in seeing if you can save some $$

C.U.T.C Inc.
1295 Carol CR.
Laval
866-927-8294 or 450-687-8294

Let me know how it works out.
Danny
 
#6
We use CG & B for our error and omissions/ contingent cargo policy as well they get us our surety for $ 3000 USD. never had any issues with them ( been with them for 10 yrs now - based out of markham, ON )
 

youngtea

Active Member
#8
Does anyone know any insurers that are willing to work with new freight brokers (> 3 years)?

The Guarantee Company Of North America has stated they are unable to insure us because we are a new company without full collateral.
 
#9
Youngtea,

We have access to a insurer that will post your 75k bond with 0 collateral if you so wish.

Contact Tatjana @ 1-877-796-7016 for more information.
 

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