FAQ

Every entrepreneur knows how important it is that their contracts and financial obligations are guaranteed. Until recently, the most widespread forms of this type of insurance were bank guarantees or cash guarantees. However, both of these take out liquidity from the company. Since 2013, through new regulation by SUSEP (Superintendence of Private Insurance), Surety Bonds have gained prominence in the Brazilian market, which already brings together dozens of insurers able to offer the solution for the entrepreneur who seeks to preserve his cash flow without jeopardizing the legal safety of your business.

Yes. The term “bond insurance” is a mixture of surety bond and bank guarantee, which are similar products but marketed differently.

When the word insurance is used, we understand that it refers to surety bond.

Warranty is the obligation that will be covered by the Surety Bond.

Your company will need a surety bond every time it needs to make a bond to fulfill contractual or judicial obligations. Surety Bond eliminates the need to paralyze cash, thus freeing up your cash flow for other decisions and obligations.

Surety bonds for contractual obligations in the public or private sectors, advance payments, energy purchases, deposits and judicial actions.

Yes. Surety bonds are suitable for any size of company.

All sectors of the economy may have a need for surety bonds, but the most common are industries, service providers, equipment suppliers, civil construction and engineering.

Yes. Every contract where there is an obligation to supply, provide service or build can be guaranteed through Surety Bonds.

It is a contract between the insurer and the policyholder that provides the mechanism through which the Insurer may seek the right to reimbursement for the damage caused by indemnity, according to art. 786 of Law 10,406 of 2002

Art. 786. Once the indemnity is paid, the insurer subrogates, within the limits of the respective amount, the rights and actions that the insured has against the author of the damage.

With the advice of 3W Ins. Team, the first step in contracting Surety Bonds is to seek credit approval from an insurance company (authorized by the Superintendence of Private Insurance – SUSEP). After that, the limit available for your company for future acquisition of Surety Bonds will be determined.

Engineering Risk is a branch of the insurance field where physical, financial and liability damages that may occur during the execution of a work, will be covered.

The Engineering All Risk Insurance can be contracted either by the owner of the project or the contractor.

This type of insurance coverage begins on the effective date of commencement of a project and ends when the work is completed.

Yes. Given that a clause is provided to that end in the policy.

Yes. Given that a clause is provided to that end in the policy.

It is a type of insurance that reimburses the insured for civil liabilities for which he may be convicted, including material, bodily and moral damages, as well as costs and expenses caused to third parties.

All segments of industry, commerce and services. It may also include professional error and the personal assets of executives and managers.

It is the amount that the insured pays to the insurer to obtain a policy, to guarantee the benefits provided for in it.

A claim is an occurrence of any event that is covered by the contracted insurance and that is specified in the policy.

With the advice of 3W Ins.