We recommend that you use Life Insurance to create a pre-death buy-sell agreement certifying that if a stockholder should die, the remaining stockholders can purchase his/her shares at a fixed price. This will guarantee that heirs will receive cash for their inherited business interest and that surviving stockholders will maintain control of the business.
Farmers is recognized as a leader in the surety industry with expertise in a variety of bonds. Consideration can be given to underwrite almost any type of bond required. Many Farmers agents have authority to execute bonds right on the spot.
A bond covers the fulfillment of an obligation. The obligations can range from performance of a contract to following laws related to an operating license. Other obligations include paying taxes or lease fees, supplying goods, paying a court judgment, performing duties as a public official, etc.
Farmers is ready to provide the backing needed to meet your business or personal bond needs.
When a business loss occurs, our experienced claims representatives will help you get back where you belong with caring, professional service and same-day response. Our commercial claims centers handle:
- Commercial Property
- Commercial Liability
- Workers' Compensation
Commercial Auto claims are settled at your local branch claims office.