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Insurance Definition: BOND

By Compuquotes Team on March 27th, 2008

BOND:

Definition:

  • A security that obligates the issuer to pay interest at specified intervals and to repay the principal amount of the loan at maturity. In insurance, a form of suretyship. Bonds of various types guarantee a payment or a reimbursement for financial losses resulting from dishonesty, failure to perform and other acts.

Information provided by Insurance Information Institute

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