Insurance 101

I recently took a three week course in Property and Casualty Insurance.  It was a rough 3 weeks crammed with more information then a person could be expected to retain in such a short amount of time.  However, after the three weeks, I stayed home and studied as much as I could and scheduled my State Exam.  I passed and received my license a week later, but that was not as important as the life lesson I learned while taking this course.

One chapter of the 17 chapters in the Florida course book was on Surety.  I really had no idea what that was about or what it had to do with insurance.  The word rang familiar, but not in terms of providing society with some necessary business arrangement.  Suretyship dates back over 4,500 years, whereas insurance in the form resembling today's practice is only 300 years old.

I learned there were three parties involved in a contract of suretyship, as opposed to the two parties involved in an ordinary insurance contract.
 One party is called the "Principal" -  the one who undertakes to perform to fulfill a contract or to meet an obligation.
Another party is the "Obligee- the one who is to be guaranteed that the principal will perform.
The third party is "Surety"- the one who guarantees the performance of the principal to the obligee.

I thought of Jesus and the supreme sacrifice He made for us.  Jesus was and is our "Principal".  God the Father, our "Obligee" the one who was to be guaranteed that Jesus would perform. 
I thought of the Holy Spirit as "Surety" who guarantees the performance of the principal to the obligee.

Now , this is my interpretation.  Some may have other ways of seeing the relationships, but all roads lead back to our Creator either way!

My course book stated that depending upon the nature of the guarantee, the surety will wish to satisfy itself on :
1. The character of the principal to warrant the surety's trust - Jesus who was without sin, yet was exposed and tempted in the world as much as we are.
2. The principals financial resources, or capital ( His life)
3.The experience or capabilities of the principal to perform - Obedient Son of God.

Another "underwriting" tool is called "joint control" which is a process wherein the surety and principal exercise joint control over assets.  Here again, I saw the relationship between the Holy Spirit speaking from God the Father to God the Son, who worked in unison to complete the task of redemption for mankind (assets)

In essence I felt I understood the process of Surety by relating it to my faith.  I felt that Jesus took out what is known as a "Performance Bond" to guarantee indemnification to God for any losses resulting from Jesus's failure to complete the contract work in accord to specifications. 
God put up His Son, as ransom for us all.  The Holy Spirit guaranteed the work that Jesus could and would perform on our behalf to the Father.
Jesus did complete the work.  He announced with his last words, "It is done!"  Jesus completed the work of salvation for every soul that was or ever will be here on earth.  His work was guaranteed by the Holy Spirit to God our Father.  Without this dynamic connection kept alive and in constant communication between them, it may have not been possible.
A very real spiritual lesson was learned in a course that was about making a living and an income.