General Indemnity Group
General Indemnity Group ("GIG") is an insurance holding company founded in 2015. We specialize in acquiring and operating companies that underwrite and distribute insurance products.
Our current holdings include surety insurance agencies, as well as an "A- Excellent" (AM Best rating) monoline surety insurance company.
General Indemnity Group, LLC is a wholly-owned subsidiary of Boston Omaha Corporation, a public holding company with businesses engaged in diverse activities including advertising, real estate, insurance, broadband and other investments. For more information, visit www.bostonomaha.com
We are a small team of highly talented individuals that go above and beyond to support the companies that we work with. Our team possesses expertise in data visualization, systems engineering, software design, product management, IT, and HR to deliver exceptional results.
Innovation is at the heart of what we do. We grow our businesses through a variety of means, including by building digital, online offerings and modernizing outdated systems and workflows. We work to transform the paper processes and multiple-touch points of the past into more efficient, digital, and automated routines.
We are experts at deploying data infrastructure in order to deliver to managers intuitive and real-time data visualizations that eliminate the time typically needed to crunch data. Instead, our leaders can focus on the insights essential to running the business with command and efficiency.
What is Surety?
A surety bond guarantees the performance of a contract or other obligation. Bonds are three party instruments by which one party guarantees or promises a second party the successful performance of a third party.
The entities involved in a Surety Bond include:
The Surety: Usually a corporation which determines if an applicant (principal) is qualified to be bonded for the performance of some act or service. If so, the surety issues the bond. If the bonded individual does not perform as promised, the surety performs the obligation or pays for any damages.
The Principal: An individual, partnership, or corporation who offers an action or service and is required to post a bond. Once bonded, the surety guarantees that he will perform as promised.
The Obligee: An individual, partnership, corporation, or a government entity which requires the guarantee that an action or service will be performed. If not properly performed, the surety pays the obligee for any damages or fulfills the obligation.