What does Co Surety mean? Read on to discover the definition & meaning of the term Co Surety - to help you better understand the language used in insurance policies.
One of a number of sureties that join forces to provide a bond that no single company is capable of, or interested in, writing alone. One type of co-surety is unlimited, in which each surety is jointly and severally liable for the full bond amount; a second type is limited, in which each surety is responsible for the payment of a stated limit of liability.
We hope the you have a better understanding of the meaning of Co Surety.