The founder and former president of AUUG Realty, Gregor Gregory has been president of Northernlight since 2002. Capitalizing on the knowledge of the construction industry he garnered while heading AAUG, Gregor Gregory leads Northernlight in a range of construction industry surety and property insurance activities.
Both surety bonds and insurance policies are both risk transfer tools that are designed to protect the individuals or organizations that hold them. The same carrier often writes both tools for its clients and the same state licensing requirements commonly apply to agents who write surety or insurance.
The main difference between a surety bond and an insurance policy is the number of parties involved. While a basic insurance policy involves just the insured and the insurance provider, the surety bond involves three parties: the obligee, the principal, and the surety.
The obligee requires the surety bond. The surety protects this party from loss if the principal fails to fulfill stated obligations.
The obligations of the principal involve performing certain actions or paying certain fees according to established rules and ordinances. If they to meet these obligations, the surety bond protects the oblige from loss.
The third and final party in the surety agreement is the surety itself. This party is the insurance carrier that guarantees that the principal will fulfill all state obligations to the obligee.



