Surety insurance is a type of insurance that allows companies to remain as a surety over the surety bond issued for the creditor, against the risk that the debtor will not fulfill her obligations under the law.
What is Indemnity Insurance?
Indemnity insurance is a type of insurance that allows companies to remain as guarantors through a surety bond issued for the creditor in exchange for the risk that the debtor will not fulfill his/her obligations under the law. Indemnity insurance can be considered as an alternative to banking products, rather than other products. The purpose of the policy is to eliminate the material losses of the beneficiary on behalf of the insured. In addition, indemnity insurance can also be used instead of a letter of guarantee.
What is the Indemnity Insurance Coverage?
It is divided into hard collaterals and supplementary coverage within the insurance policy. The hard collaterals can be listed as contract guarantee, tender guarantee, performance guarantee. Supplementary coverage options that provide for the expansion of the domain and the scope of the policy are repair, manufacturing guarantee and customs, court collateral.
What does Indemnity Insurance do?
Indemnity insurance can be used in all areas where a letter of guarantee is needed on its basis. Surety bonds issued within the scope of insurance can also be used for transactions related to public institutions. The areas of use that the indemnity insurance benefits are; rapid results can be obtained as the return is provided in a short time, important services are provided within the scope of the policy in order to provide the assurances needed in business life, and the losses are compensated by being a guarantor on behalf of the debtor against the losses of the third parties.
How to Get Indemnity Insurance?
You don't have to waste a long time to make use of the many advantages provided by the indemnity insurance! All of your expenses are covered by the indemnity insurance that you will get from Duzenli Sigorta.