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Home#35 - Bonding the Conservator

BONDING THE CONSERVATOR




Keith D. Seekford, CIC, CPCU, President of Moore, Clemens & Company, Inc. in Leesburg and Paula A. Crouch, owner of Roseberry & Foster Bonding Co. in Fairfax provide an in depth interview on bonding the conservator in which they discuss

  • what is a corporate surety bond and how does it work,
  • the application process to obtain a surety bond,
  • factors important to an insurance company reviewing an application
  • factors that will cause an application to be denied,
  • reviewed a sample surety application,
  • highlight the importance of getting pre-approved for your surety bond before you start your legal proceedings because you cannot qualify as a conservator until the surety application is approved and in some cases the bonding agent must appear with you at the local probate office,
  • the amount of initial bond and adjustments to same as the assets under your control increase or decrease, and
  • what triggers claims on the surety bond and what to do if that occurs.

 

Recorded October 2016.  Broadcast April 2017