The Main Street America Group, a super regional property/ casualty insurance carrier, announced that the U.S. Treasury Department has raised its NGM Insurance Co.’s single surety bond capacity threshold with limits available up to $54 million per bond.
“The U.S. Treasury Department’s increase of our surety capacity is a reflection of the financial strength and stability of our company,” said Brian Beggs, Main Street America’s vice president of bonds. “The greater capacity will enhance our ability to meet the surety bond needs of our agent-customers and their customers.”
Main Street America’s surety bond offerings include:
Contract/Construction Surety Bonds—These bonds guarantee a contractor will complete a contract for construction, service or supply of goods.
Fidelity Bonds and Commercial Crime Bonds—Fidelity bonds provide coverage for employee dishonesty above and beyond the limits of most package products. Commercial crime bonds cover losses due to burglary, robbery and depositor’s forgery.
Commercial Surety—License or permit bonds are required for contractors operating under a local, state or federal license, and good business practice for many other types of businesses. Court bonds are available for administrators, executors, trustees or guardians, and public official bonds, for tax collectors, justices of the peace, notaries and public officials.
Source: The Main Street America Group