Since 1972, Brunswick Companies has grown from a small insurance company to one of Ohio’s largest risk management consultancies. Our team of experts is one reason why we have seen great growth, and we would like to introduce them to you.
Meet Mark Levinson, who heads up our surety bonding department.
How long have you been working at Brunswick Companies and what is your title?
I’ve been here since 1998, and I’m the Senior Vice President of Surety.
What is a typical day in the office like for you?
Typical day at the office is talking to many of our current clients and working with new perspective clients to help them fulfill their bonding needs. There is a lot of financial analysis, discussions with underwriters and sharing of information and we meet with a lot of our clients. On a day to day basis, we are handling the needs of our current clients and always trying to grow the book of business.
What is your favorite part of your job?
You never know what to expect, there is always something new or unique in our industry. Surety has been around for thousands of years, but it is always evolving and changing. Every day brings something new to the table, which is interesting.
What is the most common question clients ask about surety bonds?
Probably the most common question is “what do I need to do to get bonded?” That is the most basic question and why clients are calling me. Generally, people want to know what they need to do to get a bond set up.
It is similar to getting a bank loan, in terms of the information they need to provide. It is a pretty intense screening process. Once we look at the total picture, we have a pretty good idea on what markets might be interested in making an offer. That is where our expertise comes into play.
Tell us something most people do not know about surety bonds.
People need to be aware of indemnity features. When you have car insurance and get in a wreck, the company pays a certain amount of money to get your car fixed, end of story. In the surety world, if you are bonded and the bonding company has a loss, meaning they paid someone on your behalf, you have to repay them for every penny they pay out. They can go after your personal assets also, which is something I do not think a lot of people really take into consideration.
What to know more about Surety Bonds? Give Mark a call today at 330-865-4265.