CAGNY Meeting. May 29, 2002. What is “Suretyship”?. Suretyship is essentially an extension of credit by the surety on behalf of the principal . Suretyship is designed to protect the Obligee from exposures to loss. What are “Surety Bonds”?.
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May 29, 2002
frequency and severity
• Growing number of high risk obligations
Halter (two sureties involved)
claim ever produced now in litigation.
• The biggest potential loss is Enron Corp.
• Another potential large loss is Kmart