About Bond Exchange
Based in Charlotte, North Carolina, BondExchange has provided insurance agents with the service and expertise necessary to satisfy their customer’s surety bonds since 1977. In addition to working with independent agents throughout the United States, we entered into a referral relationship with Nationwide Mutual Insurance Company in 1989 to provide surety bonds to their large captive network. In 1999, BondExchange was acquired by Western Surety Company (now CNA Surety) and continued to service the bond needs of Western’s large group of independent agents, along with Nationwide and independent agents.
In 2012, J.E.P. Capital, Inc. acquired BondExchange from CNA Surety. In 2015, BondExchange entered into a referral relationship with Northeast Agencies Inc, an affiliate of Allstate Insurance Company, to provide surety bonds to their captive and independent agents. In 2016, we launched BondExchange.com.
Why should agents choose BondExchange as their broker?
Our decades long relationship with The BondExchange provides us with a unique perspective on the capability, longevity and reputation of this valued agency partner.
Nationwide® agents have utilized The BondExchange for many years as a wholesale surety solution. With the launch of BondExchange.com, our agents have access to exciting technology in addition to great customer service to help satisfy their customer’s surety needs.
Our management is focused on improving the bond process for insurance agents by leveraging over 40 years of surety expertise with modern technology to create value added tools and services that make surety easy. At bottom, the tools are designed to make the process simple and efficient while preserving the agent’s branding.
Data-Driven Accuracy and Efficiency
Agents can find the surety bond required by their customer from a database of over 10,000 bonds with a simple keyword search. The depth of information contained in our bond library further enhances its value to agents, including important details applicable to the issuance, renewal, filing, cancellation, reinstatement and other requirements for each bond, ensuring that the customer’s bond document is processed without errors.
Our application is designed to guide the Agent through the surety bond process with confidence by providing important information and hints along the way. The Agent has the further option of allowing their customer to purchase the quote online after submitting the application, or the Agent can receive and send the quote in their preferred method. Either way, we keep the Agent in the loop and visible throughout the process.
Why waste time entering customer information on a carrier website, only to receive a declination the next day? Even with access to multiple carriers, the trial and error process wastes time and can damage goodwill with customers, who expect timely service. By clicking ‘Submit’ on our application, our system underwrites and compares market rates from over 30 surety carriers based on the customer credit profile and bond requirement to find the best pricing in seconds.
Streamlined Premium Financing
With our in-house financing program, agents automatically receive an interest-free installment option with the quote. With a single click, agents can offer the lowest down payment and up to 10 monthly installments, eliminating 3rd party financing companies whose payment booklets, extra paperwork, and high interest rates waste an agent’s time and even their precious goodwill with customers. We simply collect the customer credit card, charge payments when due and politely and proactively follow up with your customer if any problems arise.
We pay a competitive commission rate of 20% on standard market surety bond and 10% for non-standard surety bonds. Agents can also seemlessly add broker fees to quotes increasing total compensation.
Our Charlotte based underwriters are available from 7 a.m. to 7 p.m. ET. Call, chat, or email our friendly staff directly for prompt, courteous replies to any of your surety questions. Agents can expect one of our underwriters to answer the phone on the 1st ring or respond to chat in seconds with the authority and knowledge to answer your questions.
We are appointed with over 30 surety carriers to ensure our agents receive the most competitive pricing for their customers and approvals for even the most difficult bond types or applicant credit profiles.
Our markets include the following A-rated carriers:
- Accredited Surety & Casualty Company, Inc
- American Contractors Indemnity Company
- American Safety Casualty Insurance Company
- Capitol Indemnity Corporation
- Continental Casualty Company
- Contractors Bonding and Insurance Company
- Developers Surety and Indemnity Company
- Great American Insurance Company
- Hartford Fire Insurance Company
- Hudson Insurance Company
- International Fidelity Insurance Company
- Lexon Insurance Company
- Merchants Bonding Company (Mutual)
- North American Specialty Insurance Company
- Old Republic Insurance Company
- Old Republic Surety Company
- Philadelphia Indemnity Insurance Company
- Platte River Insurance Company
- RLI Insurance Company
- State National Insurance Company
- SureTec Indemnity Company
- SureTec Insurance Company
- Texas Bonding Company
- The Guarantee Company of North America USA
- The Hanover Insurance Company
- The Ohio Casualty Insurance Company
- Travelers Casualty and Surety Company of America
- U. S. Specialty Insurance Company
- United States Surety Company
- Universal Surety of America
- Washington International Insurance Company
- Westchester Fire Insurance Company
- Western Surety Company