Bond coverage at PIC is a type of insurance purchased by a bond issuer to guarantee the repayment of the principal and all associated scheduled interest payments to the bondholders in the event of default. The insurance company takes the risk of the issuer into account in order to determine the premium that would be paid to the insurer as compensation.
At PIC, we generally insure only securities that have underlying ratings in the investment-grade category, with un-enhanced credit ratings ranging. Once bond insurance has been purchased, the issuer's bond rating will no longer be applicable and instead, the bond insurer's credit rating will be applied to the bond instead by notching it higher.
Bond insurance is acquired in conjunction with the Banks and other contracts in both the public and private sectors.
Such Bonds we offer are: Guarantee Bond, Indemnity Bond, Performance Bonds & Bid security, etc.
Note: For now we do not offer Criminal bonds until otherwise.
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