The commercial side of the surety business doesn’t always get the attention it deserves. Though commercial claims may lack the same scope and sizzle of construction and engineering claims, these types of surety bonds are utilized in dozens of vast and varied scenarios. From license and permit bonds to auto dealer bonds and from custom & excise bonds to probate, public official, and utility bonds, the need for a third-party to provide guaranteed security has never been greater. Sureties that increase their overall volume by writing other bond types often call on Guardian Group, Inc. when they require specialized technical support and when they want to supplement their in-house team while bringing greater efficiency to their claims investigation and resolution process.
ABOUT THE CLAIM
On one such claim, a guardianship bond, a deceased father had appointed his second wife as guardian on behalf of his ten year-old daughter. The girl had previously received settlement monies from an injury and her biological mother had passed away several years prior. After the father’s death, the court’s administrator could find no final accounting and no protection of the estate on behalf of the minor child as the appointed guardian had been late and delinquent on her mandatory reporting. The court removed the woman, appointed a new public guardian, and made a claim against the bond.
ABOUT THE INVESTIGATION
In collaboration with the office of the public guardian, Guardian Group’s commercial surety team made a plan to track down the second wife. Upon learning she had left the country, Guardian Group called upon the resources of a longstanding strategic partner specialized in private investigations. All parties grew concerned when it was uncovered that the woman was most likely in Kenya as international investigations and recoveries often prove more difficult.
ABOUT THE RESOLUTION
Guardian’s commercial surety investigations team tracked the woman down and collaborated with the U.S. Embassy in Kenya. Fortunately, in this case, while the woman had transferred money out of the estate, her stepdaughter’s funds were still intact. Courtesy of an effective, expedient resolution, the surety saved the $96,000 it would have otherwise owed on the guardianship bond.
ABOUT GUARDIAN GROUP, INC.
Seasoned claims handling and investigations experience sets Guardian’s services apart on both construction and engineering claims, as well as with commercial surety bond claims. For over 30 years, sureties and their counsel have relied on Guardian’s personnel and track record of pragmatic, efficient consulting to help them resolve claims swiftly, cost-effectively, and with maximum confidence. Whether on a single claim or a high volume of claims, by partnering with Guardian Group, Inc. you can effectively increase the efficiency and capability of your in-house team. Kindly call on us today.