The surety insurance definition is the same as a surety bond. When people refer to surety insurance they mean surety bond. The names aren’t exactly interchangeable, however, as surety bond is the preferred term. Regardless of preference, it is still important to discuss the surety insurance definition to clear up any misgivings about the topic. […]

Surety insurance is required by states to protect both businesses and consumers. When a company offers to secure travel arrangements, for example, they are required to post a surety bond. This bond is used as insurance that the travel agency will abide by all regulations and not misuse funds entrusted to them for travel purposes. […]