SCIAN 524130—Surety companies

Where 524130 sits

1. 52 Financial and insurance services
2. 524 Insurance, surety, and retirement fund managementt companies
3. 5241 Insurance and surety companies
4. 52413 Surety companies
5. 524130 Surety companies

Description

Economic units primarily dedicated to guaranteeing the fulfillment of an economic obligation or debt acquired by any natural or legal person due to criminal or civil liability actions of the bonded party with respect to another person called the beneficiary of the bond; these titles constitute a guarantee by means of which a natural or legal person commits to a creditor to pay in place of their debtor in case of default by the bonded party.

What 524130 includes

• Economic units (surety companies) mainly dedicated to the distribution of the risk of a surety between two or more surety companies (re-surety).

Example activities

• surety companies, financial services of
• administrative bonds, issuance
• fidelity bonds, issuance
• credit protection bonds, issuance
• re-securement

Cross-references for 524130

• Establishments primarily engaged in the placement or direct sale to the public of insurance or surety contracts or policies (524210, Insurance and surety agents, adjusters and managers).

524130 in other systems