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Assurance for You and Your Business.

Owning a business means taking risks. At Marshall Young Insurance Agency LLC, we offer a variety of bond and license services to ensure that your business is protected. While there are many Bonds from which to choose, they can be issued for an extensively wide range of circumstances, and choosing the right bond to suit your needs can be a difficult task.

The professional and knowledgeable bond specialists at Marshall Young Insurance Agency LLC will work with you to develop a business solution to help meet all of your bonding goals. In addition to providing quality surety products, we also provide various licensing and permit services to ensure that your business runs to the letter of the law.

Our business solution services include:

  • Performance Bonds
  • Contractor’s Bonds
  • ERISA Bonds
  • Fiduciary Bonds
  • Sub-Division Bonds
  • Court Bonds
  • Conservator Bonds
  • Surety Bonds
  • Fidelity Bonds
  • Public Officials
  • Liquor Licenses

If you need a bond or license, contact a bond specialist at Marshall Young Insurance Agency LLC today who can help you find the surety products that keep your business covered.

We provide bonding and license services to businesses near Cleburne, Burleson , Granbury, Ft. Worth, Mansfield, and Dallas.

 

Fidelity Bonds

Protect Your Business From Theft and Dishonesty.

As a business owner, even if you take every precaution possible to ensure the security of your business assets, theft and dishonesty can still happen. Without the right coverage, businesses can lose important data or experience major financial losses as a result of fraudulent activity.

A Fidelity Bond from Marshall Young Insurance Agency LLC can indemnify your company in the event of theft. Our coverage options range from the protection of businesses to the security of non-profit and professional organizations. With the right Fidelity Bond, you can cover your assets, including money, personal belongings, computer equipment, supplies, and more. Your business or organization can also cover any employees or volunteers.

Types of Fidelity Bonds

Fidelity Bond options from Marshall Young Insurance Agency LLC include:

ERISA Bonds – for covering any claims that involve a violation of the Employee Retirement Income Security Act (ERISA). This includes situations that range from imprudent investments to failure to enroll employees.

Employee Dishonesty Bonds – that cover fraudulent acts committed by employees on the property of your business, including theft and other violations.

Business Service Bonds – that protect against theft of a client’s or customer’s property on their premises as a result of your employee’s careless actions.

While there are other options available, it’s important discuss the needs pertaining to your business with a licensed professional. At Marshall Young Insurance Agency LLC, we can provide you with the proper protection to keep your assets secure.

 

Surety Bond Insurance in Cleburne, TX and throughout The Dallas-Forth Worth Metroplex

Your primary goal as a business owner is to ensure that your operations run smoothly and efficiently on a daily basis. At Marshall Young Insurance Agency LLC, we specialize in providing bonding services that help to protect the integrity of your business.

We can provide you multiple types of bonds. Please review the list and definitions below and contact us for further information.

A.Commercial Bonds: A general classification of bonds that refers to all bonds other than contract and performance bonds. Commercial bonds cover obligations typically required by law or regulation. Each bond is unique to the circumstances at hand.

1.      License & Permit Bonds: License and Permit Bonds are required to obtain a license or permit in many cities, counties, states or other political subdivisions. They may be required for a number of reasons, including the payment of certain taxes and fees or providing consumer protection as a condition to granting licenses related to selling things such as motor vehicles or contracting services.

2.      Public Official Bonds: Guarantees that a public official complies with the statutes such as handling money or other assets entrusted to him with honesty.  An example of these types of bonds that we offer include Notary Public, Treasurer & Subordinates, Tax Collector & Subordinates, Clerk, Judge, Mayor or Counsel Members, Sheriff, Peace Officer, Deputy, Constable, Marshal, Policeman, Public Employee or Administrator and many other bonds for county and local government employees.

3.      Fiduciary Bonds: Someone appointed to handle the affairs of another who is unable to handle his or her own.  An example of this type of bond is an Administrator, Guardian, Conservator, Trustee, Receiver.

4.      Court Bonds: Required in some action of law and generally are divided into two classes – Plaintiff & Defendant bonds.

5.      Miscellaneous Bonds: Cover a wide array of not otherwise classified indemnity bonds.  Examples of these types of bonds include: Financial Guarantees, Utility Deposit, Patient Funds, Nursing Homes, Lost Instrument, Wage & Welfare, and Workers’ Compensation.

6.      Federal Bonds: Required in relation to licenses or privileges regulated by the Federal Government.  Examples of these types of bonds include: Medicare for DMEPOS Suppliers, Excise Tax, Brewers-Wine Makers-Distillers, Property Brokers, & Post Office Contract Stations.

7.      Corporate Commercial Bonds:

Are commercial bonds such as Bid, Performance, Payment & Supply, Court, Custom, Lost Instrument, License & Permit, Miscellaneous, Regulatory & Tax, Utility bonds.

B.      Contract Bonds: A general classification of bonds that provide financial security and construction assurance on building and construction projects by assuring the project owner (obligee) that the contractor (principal) will perform the work and pay certain subcontractors, laborers, and material suppliers.  Commercial Entities, Municipal governments, County governments and school districts require business (General Contractors, Electricians, Plumbers, Paving Contractors, Roofers & Subcontractors) to have bonds when working on their property.  Examples of Contract Bonds include Bid bonds, Performance Bonds and Payment Bonds for all sizes and types of contractors.

C.      Fidelity Bonds

1.      Janitorial Service Bonds:

a.      Texas Services Bond for Janitorial Service Companies.  Dishonest employees can significantly damage your business. For example:

–          An employee of a janitorial services business was cleaning an auto dealership.  A customer left his keys in the night drop, the employee stole the keys and the vehicle.  The employee drove the car to another city and wrecked it.

–          An employee of a janitorial services business was cleaning a law office and found two envelopes containing cash in an attorney’s desk drawer.  The employee stole the money and bought a car.

–          On an employee’s first day on the job, an new hire to the janitorial services business was cleaning a bank and stole $15,000 from the vault.

–          The janitorial businesses in these examples were protected by the Business Services Bond and their losses were covered by CNA Surety up to the coverage limits purchased.  Coverage is subject to the conviction of the defaulting employee.

–          Don’t wait until it is too late to get the protection you need.

2.      Employee Dishonesty: Employee Dishonesty Bonds guarantee that the bonded employee(s) will handle their employer’s money and property with fidelity.  Small companies can be especially hard hit because they can’t afford extensive safeguards and do not have the financial capacity to absorb the losses.

3.      Pension Trust (ERISA) Bonds: Pension Plans and profit sharing programs are managed by appointed individuals known as plan fiduciaries.  The Pension Reform Act of 1974 states that the fiduciaries of a pension or profit sharing fund are required to post a bond for 10% of the amount of funds handled.

D.     Errors & Omissions

1.      Notary Public E&O: Notary Public Bonds protect the public but not the notaries. Notary Public Errors & Omissions Insurance provides valuable protection against costly & time-consuming lawsuits.

2.      Signing Agent E&O:  CNA Surety’s Signing Agent Errors & Omissions Insurance is specifically designed for Notaries who assist with loan signings.  The policy fills the gaps left with traditional Notary Errors & Omissions Insurance, which only provides coverage for the actual notarizations in a loan package. Signing Agent E&O covers unintentional errors or omissions while the notary is acting as a “signing agent”.  In addition to the notarizations, it covers such things as getting all other signatures and initials, correctly dating the documents, completing the signing in the time period specified, and promptly returning the signed documents.  Defense costs are also covered within the coverage amount.

3.      Tax Preparer: Tax Preparers’ Errors and Omissions Insurance covers losses due to errors or omissions of persons who prepare tax returns for others for a fee, including incorrect or incomplete preparation of forms and calculation errors.

E.      International Bonds

Examples of International bonds include Foreign owned construction & commercial enterprises that have substantial operations & bond needs in North America

F.       Custom Bonds

Anyone wishing to import goods into the United States or engage in import related operations is required to post a surety bond. A Customs Bond protects the Customs revenue and ensures compliance with the regulations of the United States pertaining to importing and related activities.

G.     Performance Bonds: The coverage provided by a Performance Bond is that the principal will faithfully perform the terms and conditions of a written contract. These bonds frequently incorporate payment bond (labor and materials) and maintenance bond liability. This protects the owner from financial loss should the contractor fail to perform the contract in accordance with its terms and conditions.

Since there are many types of Surety bond products, it’s important to discuss your options with a licensed, professional bond agent. Our underwriting services are flexible to meet your unique business needs, and we specialize in a high-degree of customer care that will ensure maximum consideration for your assets.

Marshall Young Insurance has bond programs that cover Texas and include Cleburne, Granbury, Burleson, Mansfield, Ft. Worth, Arlington, Dallas, Waco, Temple, Austin, San Antonio, Houston and all areas in between.  Our bonds are written with CNA Surety Group and RLI Surety Bonds.

Contact a Bond specialist at Marshall Young Insurance Agency LLC today to keep your commercial responsibilities protected.

 

Workers Compensation

Workers Compensation Insurance in Cleburne, Ft. Worth, Dallas, Austin, San Antonio, Houston, TX

Securing Texas Businesses and Employees with Workers Comp Coverage

It’s a resounding fact that accidents happen. This is especially true for businesses. Regardless of the size and scope of the operation, incidents resulting in injury or death can transpire. Although this isn’t a discussion topic business owners welcome, it’s a necessity to ensure protection for all parties involved.

At Marshall Young Insurance Agency LLC, we specialize in offering comprehensive workers compensation insurance for Texas businesses. If on-the-job injuries occur, this coverage secures the cost of medical care, rehabilitation, and lost wages for workers, as well as death benefits for dependents. It also protects businesses from the financial burden of lawsuits issued by injured workers or their families.

Workers Compensation Insurance Coverage Details

The practice of securing workers comp protection varies depending on the state in which business is conducted. Texas is especially unique, as private employers afford the choice of whether or not to provide workers comp for their employees. Businesses that opt out are susceptible to the debilitating costs of lawsuits. We advise against exposing your business to this risk.

When an incident occurs for an insured business, workers compensation insurance at its core will:

  • Pay for an employee’s medical treatment
  • Replace lost wages if an injury requires time off work
  • Secure the insured business and its assets

Aside from injuries sustained within the workplace, workers comp insurance provides protection wherever employees are serving in the “course and scope” of their job. One of the leading causes of workers comp claims are traffic accidents that happen when employees are on the clock. Events spanning from natural disasters, violence within the workplace, and occupational illnesses are also covered.

It is important to note, for small and medium-sized businesses workers comp insurance is not included in a typical business owners policy (BOP). Instead, it’s a standalone investment.

If you’re interested in adding workers comp to your current coverage, or are prepared to begin a new policy, feel free to request a quote.

Agents Working for Your Business and Employees

Securing workers comp insurance may seem like a daunting, complex process. However, agents at Marshall Young Insurance Agency are available to guide clients to a fitting resolution.

Our service doesn’t conclude once a policy is in place. Instead, we continue to educate clients on developments in workers comp requirements and monitor policies to keep rates competitive. Agents work with you to keep premiums at a minimum, offering advice on accident prevention and helping employers take advantage of savings available within the state.

Every workers comp policy we write is backed by coverage courtesy of an established, trusted carrier. Agents first determine the appropriate, cost effective coverage for your business. Only then will they shop for coverage from these carriers on your behalf.

Clients are encouraged to ask questions to ensure a full understanding of their policy’s capacity. This same opportunity is extended to potential clients. Contact our agency to learn more about the insurance services we offer, including workers comp insurance.

Additional Resources:

 

Why Do I need Workers Compensation Insurance?

What is Workers’ Compensation?

Workers’ compensation insurance, commonly called “workers comp” is a form of insurance providing wage replacement and medical benefits to employees injured in the course of normal employment or who have work-related diseases or illnesses.

Employees covered by workers’ compensation may receive benefits based on the type of work place injury and severity of that injury.

Why workers’ compensation?

Workers’ comp coverage provides the best protection against the consequences of workplace injuries, for you and your employees. If an accident occurs, the total amount a nonsubscriber could be responsible for is unlimited. In short, going “bare” could cost you your business.

Legal protection for you:

There is no real match for the legal protection provided by workers’ comp insurance. Section 408.001 of the Texas Labor Code explains that, with only a few exceptions, workers’ comp benefits are the injured employee’s sole source of recovery from an employer who carries valid workers’ comp coverage. Nonsubscribers, on the other hand, bear complete financial responsibility for an employee’s injury or death if they are found negligent.

Medical and income benefits for your employees:

Some employers think that they have found a cheaper substitute for workers’ compensation by purchasing alternative policies. They may not know that alternative policies often leave huge gaps in coverage, limit medical benefits, and refuse to cover some illnesses, diseases and accidents.

If an employee is injured on the job, your workers ‘compensation insurance will:

  • Pay all reasonably required medical bills for a work-related injury
  • Replace some lost wages and compensate the injured employee for permanent impairment caused by a compensable work-related injury
  • Pay benefits based on the employee’s pre-injury income and the severity of the injury
  • Pay income benefits to qualifying beneficiaries of an employee who died as the result of a compensable work-related accident and reimburse them for actual burial costs (up to $6,000)

Employers who subscribe to workers’ comp send a clear message to their employees: we value your health and safety, and we have taken steps to protect you on the job.

Lowering your costs:

Workers’ compensation is one of many expenses employers have to consider but you can make it a smaller piece of your budget by joining an industry- specific safety group, choosing our workers’ comp health care network option and earning dividends.

  • Safety groups: Employers in similar industries can purchase their workers’ comp coverage as a group and receive a premium discount, participate in our group and individual dividend programs* and take advantage of free workplace safety resources designed specifically for their industry.
  • Health care network: Most employers who choose Texas Mutual’s workers’ compensation health care network get a 12 percent premium discount annually. They’ll also likely see employees return to work quicker with an emphasis on return-to-work programs.
  • Dividends: Texas Mutual awards dividends based on the company’s performance, which is affected by how safe our policyholders’ companies are. A dividend is essentially a monetary reward for policyholders who help us provide affordable workers’ compensation coverage by controlling their claim costs. Texas Mutual has paid dividends each year since 1999.*

*Dividends are based on performance and therefore are not guaranteed.

 

Safety Groups for Workers’ Compensation

Safety Groups for Workers’ Compensation available through Texas Mutual Insurance Company.

About Safety Groups

The Texas Department of Insurance allows employers in similar businesses to form safety groups in order to reduce their workers’ compensation insurance premiums. Group participation is limited to Texas employees as defined in the Texas Labor Code

Benefits for the Business Owner

A safety group member is entitled to a premium discount which is based on an estimate of the group’s entire written premium. For example, if a group is projected to generate $500,000 in annual premium, all policyholders in the group will receive the premium discount applied to the $500,000 premium level (10 percent) regardless of their individual premium size.

Group members also benefit from expert claim and safety services. Texas Mutual Insurance Company will assign a safety services consultant who is or becomes an expert in the group’s common operations. A safety plan is developed for the group and adopted by all members. The safety services consultant may speak at the group’s association meetings or in other group settings.

Currently the following Safety Groups are available:

GroupDescriptionWorkers’ Comp Class Codes
AgriCompSeed merchants; cotton farming gins; feed and fertilizer manufacturers; grain elevators; hay, feed and grain dealers0011, 0016, 0037, 0079, 0083*, 0113, 0401, 2014, 4583, 8102, 8215, 8295, 8304*, 8350*
Associated Security Services and InvestigatorsSecurity guards, investigators, alarm installers7720, 7600, 8901
CompGroup AGCCommercial construction contractorsCommercial construction contractors
Emergency Service OrganizationFire departments, nonprofit EMS organizations and private ambulance companies7704, 7720
Hospitals of TexasHospitals8832*, 8833, 9040

*May have additional limitations. Call (800) 859-5995 for more information.

Lone Star Auto DealersFranchised auto, truck, RV, boat and motorcycle dealerships8391, 8748
Lone Star EnergyButane/propane gas operators and dealers5183*, 6216*, 7219, 8350, 8387

*May have additional limitations. Call (800) 859-5995 for more information.

NFIB ConstructionArtisan contractorsMost construction codes
NFIB ManufacturingManufacturingMost light manufacturing codes
NFIB Wholesale/RetailRetail and wholesaleMost retail and wholesale codes
Social Services Agencies of TexasNonprofit social services agencies8832, 8868, 9063, 9101
Texas Alliance of Energy ProducersOil and gas production1321, 6202, 6203, 6206, 6213, 6216, 6233, 6237, 6238, 7515
Texas Apartment AssociationProperty and condo managers9015, 9032, 9052
Texas Association of ManufacturersHeavy and light manufacturingMost manufacturing codes
Texas Automotive Safety GroupTire sales centers, general auto repair facilities, lube centers, auto parts stores and body, brake repair, automotive machine and radiator shops3685*, 8387, 8391

*May have additional limitations. Call (800) 859-5995 for more information.

Texas Cattle Feeders AssociationLivestock sales companies and drivers, feed manufacturers2014, 8288
Texas Church GroupFaith-based organizations8868*, 9101*

*May have additional limitations. Call (800) 859-5995 for more information.

Texas Construction AssociationSub-contractorsMost construction codes
Texas Construction SupplySupply yards, building material centers, and other wholesale/retail suppliers8058, 8106, 8234
Texas Food and Fuel AssociationConvenience store7219*, 8006
Texas Green IndustryWholesale and retail nurseries, landscape contractors, growers, irrigation contractors and other green industry businesses0005, 0035, 0042, 5183, 8017, 8018, 9014
Texas Home BuildersMost segments of the home-building industry5437, 5606, 8601, 8742, 8809, 8810, 9014, 9015
Texas Lodging Safety GroupHotels, motels, bed and breakfasts, and hospitality groups9052, 9058
Texas Lumber & Wood ProductsLoggers, sawmills and most forms of wood products manufacturing2702, 2710, 2719, 2731, 2802, 2881, 4206, 5437, 6219, 8231
Texas Machinery & Equipment DealersAll machinery and equipment dealers8107
Texas Medical GroupPhysician offices, home health care, nursing homes, outpatient care centers and more7720, 8017, 8018, 8045, 8047, 8828, 8829, 8832, 8833, 8868, 9040, 9052, 9101 – all related to medical risks only
Texas Oil & Gas AssociationOil and gas exploration and production1321, 3111*, 3126*, 3365*, 3719*, 6202, 6203, 6204*, 6206, 6213, 6216, 6219*, 6233, 6237, 6238, 7219*, 7515, 8107*, 8113, 8601, 8606*, 9014*

*May have additional limitations. Call (800) 859-5995 for more information.

Texas Recreation Safety GroupGolf clubs, country clubs, health clubs, tennis clubs, fishing clubs, bowling centers and others in the recreation industry9016*, 9060, 9061, 9063*, 9093
Texas Restaurant AssociationRestaurants9079
Texas Schools GroupSchools8868 and 9101
Texas Sign Association Comp GroupOn-premise sign product manufacturers, sign supply distributors and associated sign service providers3064, 9501 and 9552 Some businesses listed as 8017 and 8018 may also qualify.

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