Surety Bonds Versus Insurance Policy

LFC Comments by Brian Massie

We wrote an article about how citizens are using Surety Bonds to hold public officials accountable for their actions.

Explanation of the Surety Bond:

“When there is a claim under a surety bond, however, the contractor for whom the bond is provided (the principal) is required to repay the surety, dollar for dollar, for all expenses, including the underlying claim amount that the surety pays to the claimant.”…

We asked Lake County Prosecutor’s office if the Lake County officials are covered by a Surety Bond or are they covered by an insurance policy. Here is what we received. The answer is the the Surety Bonds were replaced by the insurance policy covering an Employee Dishonesty and Faithful Performance of Duty in 2019.

Categories: Lake County - General

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