SAN JUAN, Puerto Rico, Feb. 3, 2021 /PRNewswire/ — Surety One, Inc. has entered into an agreement with the Madison Energy Group, LLC to provide commercial crime insurance products to Madison’s national network of technicians and installers. The program is a deployment of Surety One, Inc.’s specialty third party fidelity bond coverage.
There is often exclusionary language in commercial crime coverage forms that leave an insured exposed to «on client’s premises» risks unless specifically endorsed. A third-party fidelity bond addresses the on-premises peril inherent in certain business activities. Madison’s technicians install, configure and adjust proprietary energy products on clients’ business premises. Initial and follow-up visits to fine-tune equipment create repeat exposures to Madison which are addressed by the fidelity bond.
Says Constantin Poindexter, CEO of Surety One, Inc., «Madison’s President, William Geist approached me with his concerns about protecting his clients and his enterprise’s reputation given the exposures created by independent on-site technicians. I created this program to address a gaping hole that he had in his current insurance suite. I am pleased to enter into a strategic relationship with a guy that is on the forefront of cleaner, more efficient energy delivery. Mr. Geist is also deeply involved in charitable causes that I also support. Our friendship and business relationship are valuable to me so supporting his efforts are a big win for the Surety One, Inc. Team and I.»
The Madison Energy Group, LLC is a national leader in the energy sector. Says Geist, «Madison was founded and built with a focus on affordable, effective technology that carries the best value in the industry. Our objective is to provide clients with a sound energy investment that will help them achieve efficiency and profitability while also contributing to the well-being of the environment. Due to our significant growth we’ve expanded our network of techs and installers and thus need to increase the protections that we provide clients.»
Surety One, Inc. is an international insurance intermediary domiciled in Puerto Rico, distributing surety and fidelity bond products nationally, in the U.S. Virgin Islands and Canada. The firm delivers on a broad geographic footprint with a local feel. For more information on the third party fidelity bond program or any surety bond need visit https://SuretyOne.com. For more information call (800) 373-2804.
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SOURCE Surety One, Inc.