CONTRACTUAL BOND INSURANCE

we underwrite risks on behalf of HDI Global Specialty SE (rating "A+"). HDI Global Specialty SE is a joint-venture of Hannover Re and HDI Global SE, both strong, global players in the re/insurance markets.

WHY CEE SPECIALTY S.R.O. 

  • a Czech company licensed and regulated by Czech National Bank; indirectly owned by the private equity fund RCI II whose major shareholders are the European Bank for Reconstruction and Development and the European Investment Fund
  • we underwrite risks on behalf of renowned global insurers on Czech, Slovak and international markets
  • we offer local & tailor-made insurance solutions; insurance policies are in Czech and subject to Czech law
  • experienced team of underwriters with respective authorities
  • claims handling through Czech independent loss adjuster company

Types of bonds we offer

  • Bid Bond
  • Performance Bond
  • Maintenance Bond
  • Retention Bond
  • Advance Payment Bond

Capacity and limits

  • max. agregated limit 25 mil. CZK (EUR 1mil.) per client / group and year
  • max. standard limit for one bond is 5 mil. CZK (EUR 200k)

Bond period

  • bid bonds max. 12 months
  • other contractual bonds max 36 months in performance period
    and 24 months in maintenance period, total bond period incl. extensions is max 60 months

Main advantages

  • insurance bond is a full-fledged alternative to a bank guarantee - the same form and legal certainty, irrevocability, payment on the first-call and without objection in case of unconditional guarantees
  • cost savings:
    • unlike bank guarantee, an insurance bond is not a loan, it does NOT reduce the credit line - so you can borrow more money from the bank - and does not enter the insured's accounts as a possible financial liability
    • substitute of retained cash or bid security
  • the insured pays only the insurance, no other fees
  • fast process of issuing the letter of guarantee with recognized electronic signature
  • various options of collaterals for securing potential insurance indemnity incl. option without any collateral!
  • we prefer framework agreements with minimum administrative on the part of both the broker and the client

 


 

Katerina_Slapnickova

Kateřina Slapničková

Underwriter
+420 728 699 503
katerina.slapnickova@cee-specialty.eu

 

 

 

 

 

Jiri_Kamarad

Jiří Kamarád

Senior Underwriter
+420 602 648 928
jiri.kamarad@cee-specialty.eu