Surety Markets Compared: Liberty Mutual vs CNA vs Travelers vs Zurich

Searches like “CNA surety” and “Liberty Mutual surety” are usually an agent trying to figure out which of the big four will actually handle a small or transactional bond without a full underwriting file. Short version: CNA/Western Surety and Liberty Mutual built the small-bond machinery, Travelers has a credit-based fast track for small contractors, and Zurich is built for large corporate and public-works accounts.

If your agency lacks the volume for a direct appointment, InsurTech MGAs like Propeller and portals like Merchants' Hub will issue instantly on referral — and the SBA Surety Bond Guarantee program exists for contractors who cannot qualify standard.

Markets & Carrier Appetite

Markets identified through editorial research (June 2026) and agent placement discussions. Items marked "verify" carry details we could not confirm at the primary source.

Market / Program	Type	How Agents Access It	Notes
CNA Surety / Western Surety	Admitted surety	Agency appointment (uwservices@cnasurety.com); bONdLINE portal	Strongest small-bond franchise: instant issue from a large library of commercial and contract bonds. Small-contractor fast track targets jobs under $750K.
Liberty Mutual Surety	Admitted surety (largest global)	National Bond Center for appointments; eBonding portal	Transactional contract and commercial bonds (fidelity, probate, small contractor) quoted/issued through eBonding.
Travelers Bond & Specialty	Admitted surety	Appointed independent agents	Construction Services Express: credit-based fast track for contractors with jobs up to $500K; full contract surety above that; broad commercial surety.
Zurich Surety	Admitted surety	Appointed brokers; Surety Express platform	Large, highly qualified corporate clients and major construction — capacity over $2B for some accounts. Not the home for small bonds.
Propeller Bonds	InsurTech MGA	Agent referral portal — no appointment needed	Instant underwrite/issue; agents earn commission without surety expertise.
Merchants Bonding (The Hub)	Admitted surety	Agent portal	Online instant commercial bond issuance.
SBA Surety Bond Guarantee Program	Federal guarantee	Via participating sureties/agents	The route for small contractors who cannot qualify for standard bonding.

What Gets This Risk Declined

First-time contract surety requires the full file: 3 years of business and personal financials, tax returns, WIP schedules, and indemnity agreements — set client expectations early.
Personal credit drives small-contractor declines; funded indemnity or collateral workarounds are expensive. Credit-based express programs (Travelers CSE, UFG) are the workaround for clean credit.
Generalist P&C agencies rarely have the volume for direct surety appointments — Propeller-style portals and the CNA/Liberty service centers exist precisely for that gap.

Frequently Asked Questions

Which surety is easiest for a one-off small bond?

CNA/Western Surety's bONdLINE and Liberty Mutual's eBonding both do instant transactional issuance for appointed agents. Without an appointment, Propeller Bonds issues on referral.

Where do I send a small contractor needing a $300K performance bond?

Travelers Construction Services Express (jobs to $500K) and CNA's small-contractor program (jobs under $750K) are both credit-based fast tracks designed for exactly this.

When is Zurich the right surety?

Large, financially strong corporate clients and major construction/public works programs. For small and midsize accounts, the other three (or an MGA) will serve you better.

Sources & Further Reading

Verify before you submit: Carrier and MGA appetite changes constantly. This guide reflects editorial research as of the date shown and real agent discussions, but always confirm current appetite, state availability, and terms directly with the market or your wholesaler before quoting.