Latest Surety Headlines
All the headlines from our Surety Topic Page, ordered by recency.
First Surety Bond Program for California Cannabis Industry OK’d
Feb 21 2018 // California Insurance Commissioner Dave Jones has approved the first surety bond program for the cannabis industry in the California. Continental Heritage Insurance Co. is the first insurer in the state to be approved to...
Starkweather & Shepley Hires Corner II as a Construction and Surety Specialist
Jan 17 2018 // Starkweather & Shepley Insurance Brokerage Inc. hired Russell Corner II as a construction and surety specialist. Corner’s key responsibilities in this role include managing relationships with current and...
PolyMet Secures $544M in Surety Bonds, Funding for Wisconsin Mine Costs
Dec 15 2017 // PolyMet Mining Corp. is offering the state a $544 million package of financial assurances to serve as an insurance policy to protect taxpayers from potentially having to cover the costs of closing and cleaning up a...
Fidelis Takes Equity Stake in New MGA Firestone Surety
Dec 15 2017 // Fidelis Insurance announced it has taken an equity stake in a new managing general agent (MGA) Firestone Surety Ltd., and will provide underwriting capacity. Details about the amount of Fidelis’ investment and...
Risk Strategies Company Acquires Maryland’s Delmarva Surety
Dec 8 2017 // Risk Strategies Company, a privately held, national insurance brokerage and risk management firm, has acquired Delmarva Surety in a move that extends its Mid-Atlantic footprint while adding specialized contract surety...
Hub Acquires Assets of Maryland’s Contractor’s Services and Surety Services
Dec 5 2017 // Hub International Limited (Hub), a global insurance brokerage, has acquired the assets of Contractor’s Services Inc. (CSI) and Surety Services LLC (SS). Terms of the acquisitions were not disclosed. Headquartered in...
How Surety Bonds Impact Contractor and Agent Relationships
Nov 20 2017 // Even though the surety industry is only a fraction of the total property/casualty marketplace, the importance of surety bonds to contractors and their impact on their relationship with insurance brokers is significant. A...
Accredited Surety and Casualty Enters into Agreement with Atlas General Insurance Services
Nov 6 2017 // Accredited Surety and Casualty Company Inc., a subsidiary of Randall & Quilter, has entered into an agreement with Atlas General Insurance Services to underwrite its Western Trade Craft artisan contractor program...
Evergreen Acquires Pro Surety Bond in Nevada
Nov 2 2017 // Evergreen Insurance & Risk Management has acquired the assets Pro Surety Bond Inc. of Las Vegas, Nev. Terms of the deal were not disclosed. Pro Surety Bond delivers web-based insurance solutions with a focus on...
Everest Re Taps AXIS Re’s Heizmann as Head of European Credit & Surety
Oct 4 2017 // Everest Re Group Ltd. announced that Markus Heizmann will join Everest Reinsurance (Ireland), dac, as head of its Zurich-based credit & surety operations. He will work alongside Laurent Arnould, head of Financial...
General Indemnity Group Acquires Kansas’ Surety Support Services
Jul 20 2017 // General Indemnity Group LLC (GIG), a subsidiary of Boston Omaha Corp., has acquired Surety Support Services Inc., of Overland Park, Kansas. Tracing its origins back almost 40 years, Surety Support Services (SSS) provides...
Argo Surety Adds Liberty Mutual’s Bluzard in Houston Contract Surety Unit
Apr 12 2017 // Argo Surety has appointed James Bluzard as central region vice president for Contract Surety. Based in Houston, Bluzard is responsible for building out local office teams and supervision of underwriting and related...
Markel International Launches Surety Business; Team Leaders Appointed
Mar 9 2017 // Markel International, the London-based specialist insurer and Markel Corp. subsidiary, has launched a surety offering, following the appointment Damian Manning to head the new team and David Chandler as senior...
New Bill Grants Bonding Assistance to Small Businesses in New Jersey
Mar 6 2017 // A recently passed bipartisan bill in New Jersey has brought good news to small businesses that want to participate on public construction projects. Senate Bill 123, signed by Gov. Chris Christie on Jan. 4, introduces a new...
Markel International to Enter Surety Market in March 2017
Feb 16 2017 // Markel International, the London-based specialist insurer and subsidiary of Markel Corp., will enter the surety market in March this year, following the appointment of two senior underwriters with over 30 years’...
Markel to Acquire Surety Company SureTec for $250 Million
Feb 2 2017 // Markel Corp. has agreed to acquire surety firm SureTec for approximately $250 million, inclusive of a three-year earn out. SureTec is one of the largest privately owned surety companies in the U.S. SureTec’s largest...
New Bill Grants Bonding Assistance to Small Businesses in New Jersey
Jan 25 2017 // A recently passed bipartisan bill in New Jersey has brought good news to small businesses that want to participate on public construction projects. Senate Bill 123, signed by Governor Chris Christie on January 4,...
Accredited Surety and Casualty Enters Agreement with Miami-Based Cinium Financial Services
Jan 25 2017 // Accredited Surety and Casualty Company, Inc. (ASC), a subsidiary of Randall & Quilter (R&Q), has entered into an agreement with Cinium Financial Services Corp., based in Miami. Cinium specializes in providing...
Argo Surety Names Layman VP, Chief Underwriting Officer
Jan 11 2017 // Argo Surety, a Houston-based member of Argo Group International Holdings Ltd., has appointed David M. Layman as vice president and chief underwriting officer (CUO) of Contract Surety. Layman will be responsible for...
2017 Changes to Used Car Dealer Bonds in New York
Dec 16 2016 // Those in the business of selling used cars in the state of New York will need to comply with new surety bond requirements in the spring of 2017. The car dealer bond is part of the licensing criteria enforced by the New...
