Brunswick Companies Professional Liability Risk Management Alert
New Surety Bond Requirement May Impact Your Law Firm
As you may already be aware, Ohio Senate Bill 185, which went into effect January 1, 2007, includes a mandate that all title insurance agents or agencies in Ohio carry a surety bond in the minimum amount of $150,000.00 if they are engaged in the closing of real estate transactions without title insurance.
If your firm handles real property escrows or transfers not involving the issuance of title insurance to protect parties to the transaction against fraud, or the failure to properly disburse escrow funds, you may fall under this requirement.
Your Trusted Source for Surety Bonding
Brunswick Companies is nationally recognized for our long-term commitment to managing the specialized exposures of legal professional groups. In addition to handling the professional liability insurance coverage needs for thousands of professionals, our comprehensive approach to risk management includes providing the surety bonds your practice requires.
Our Surety Bonding division is a full-service, national surety agency with extensive experience in meeting the bonding requirements of attorneys. We have devoted the resources necessary to thoroughly understand your needs and your business better than the competition.
This experience allows us to provide:
- Better customer service. Proper risk management means having information, advice and counsel available when you need it. We are dedicated to helping you to proactively manage your risks in a more efficient and effective manner.
- The high-tech functionality that allows us to provide fast and professional service.
- A customized, comprehensive approach to managing your exposures from experienced risk management professionals.
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