Chubb vs 
Mylo: How Do They Compare for Surety Bonds?
Chubb underwrites surety bonds directly and offers an online marketplace for transactional purchases; Mylo brokers commercial bonds by comparing quotes from several providers for license or permit requirements.
Chubb lists four surety categories; Mylo compares license and permit bond quotes from multiple providers, giving small businesses a way to compare options. 1,2
What Are the Key Differences Between Chubb and Mylo Surety Bonds?
Multi-Provider Quote Comparison Versus Broad Surety Menu
Chubb lists construction, commercial, transactional and international surety. Mylo compares quotes from multiple surety providers and focuses on commercial surety such as license and permit bonds, rather than underwriting the bond itself. 1 2 Choose Mylo if you need a license or permit bond and want quotes from several providers; choose Chubb if you need construction, transactional or international options.
What Kind of Bond Each Offering Describes
Chubb’s product list spans construction (performance, payment, maintenance, supply and install, service), commercial (license and permit, court, commercial contract, reclamation, customs, workers’ compensation), transactional and international bonds. 1 2
What Should You Confirm in Chubb and Mylo Surety Bonds Quotes?
- Confirm Mylo’s quotes are for the same obligee and penal sum as a Chubb transactional or commercial form. 1 2
- Get the issuing surety’s name on any Mylo proposal; Chubb is the surety on Chubb paper. 1 2
- Ask whether you need a construction performance or payment bond; that class appears on Chubb’s list and is not described on Mylo’s reviewed page. 1 2
- Ask Mylo what reimbursement and license-loss language sits in the indemnity; ask Chubb how to file a claim and verify the bond. 1 2
Chubb vs Mylo Surety Bonds Compared
Chubb vs Mylo: Surety Bonds: documented features by provider
| Criteria | Chubb Surety Bonds | Mylo Surety Bonds |
|---|---|---|
| Who It’s For | Chubb positions Commercial Surety Bonds for highly rated public and private companies, while Transactional Surety Bonds target commercial businesses and individuals with small or infrequent surety needs. 1Company-reported. Products & Services list. | Mylo markets surety bonds to businesses whose local government requires a bond to hold a business license or permit. 2Company-reported. Surety bonds product page. |
| How to Apply | Chubb offers Chubb Surety Marketplace, an online platform for Transactional Surety Bonds, in addition to placement through appointed agents and brokers for its other surety products. 1Company-reported. Transactional Surety Bonds description. | Mylo says it can recommend the right bond for a business, compare quotes across surety bond providers, and find the best combination of coverage and price. 2Company-reported. Surety bonds product page "How will Mylo help me find the right bond?" section. |
| Coverage Features | Chubb's surety products span Construction Surety Bonds (performance, payment, maintenance, supply and install, service bonds), Commercial Surety Bonds (license and permit, court, commercial contract, reclamation, customs and workers' compensation bonds) for highly rated public and private companies, Transactional Surety Bonds for smaller or infrequent needs, and International Surety Bonds. 1Company-reported. Products & Services list; subject to underwriting. | Mylo explains a surety bond as a three-way agreement between the business (principal), a government authority (obligee) and an insurance company (surety): the surety pays the government authority if the business violates its license or permit, and the business must then reimburse the surety. 2Company-reported. Surety bonds product page; a structural description, not a specific bond's terms. Mylo warns that if a business cannot reimburse the surety after a bond payout, the surety may sue, the business could lose its license, and it could become harder to obtain a bond in the future. 2Company-reported. Surety bonds product page FAQ. |
| Role in This Line | Chubb underwrites surety bonds directly and says it has written bonds for more than 140 years, describing itself as the 5th largest surety provider in the U.S. 1Company-reported. Surety Bonds product page introduction; company-reported ranking, not independently verified. | Mylo brokers commercial surety bonds by comparing quotes from multiple surety providers rather than acting as the surety itself. 2Company-reported. Surety bonds product page. |
