Surety1 has simplified the process so every benefit plan can be compliant with a minimum of additional steps.
Sacramento, CA (PRWEB) May 15, 2013
Surety Solutions Insurance Services, Inc. (Surety1) has added ERISA bonds to its online web-portal. By visiting surety1.com, a customer can complete a simple online application and receive a quote within hours. The ERISA bond product offered by Surety1 includes "inflation guard," which automatically increases the amount of the bond as the assets of the covered plan increase, without an increase in the premium. The bonds can be written for one-year or three-year terms, and up to 50 percent of the plan assets can be “unqualified assets.” The bond is fully compliant with the ERISA regulations and written through carriers rated “A” or better.
ERISA bonds are required on all pension plans, 401k plans and other employee benefit plans. The bond amount is set at 10 percent of the asset size with a maximum of $500k, for qualified assets with no limit for plans that have up to 50 percent unqualified assets. The bonds protect the plan beneficiaries against theft or dishonest acts from those acting as plan administrators. Christine Boscacci, Vice President of Commercial Surety at Surety1 says,“Now that ERISA bonds are available on the Surety1 website, our customers can get the bond in one day and at a competitive price. Surety1 has simplified the process so every benefit plan can be compliant with a minimum of additional steps."
Surety Solutions Insurance Services, Inc. is an independent insurance agency based in Rancho Cordova, California and licensed in all 50 states. Surety Solutions specializes in the placement of surety bonds and other specialty insurance products. For more information, you can contact Surety Solutions through its website, http://www.surety1.com, by calling toll free, 877-654-2327 or by e-mail, info(at)surety1(dot)com.