Liberty Mutual Surety has launched a new product line dedicated to contract transactional and small- to mid-sized surety business.
Liberty Mutual Surety Plus is available through independent agents and serves contractors that need standard bond programs up to $25 million, transactional bonds up to $3 million, subdivision bonds, and bonds that need special risk underwriting, including collateral, funds administration or Small Business Administration support.
The coverage is available for small to mid-sized construction and subdivision projects in the United States.
According to Liberty Mutual Surety Senior Vice President Sam Zaza, Surety Plus fills a gap in the surety industry by offering a home office with underwriters that specialize in a broad appetite. The product also rounds Liberty Mutual’s contract bond offering.
The creation of Surety Plus comes several months after Liberty Mutual acquired AmTrust Insurance’s U.S. surety operations (Insco Dico), a company that specialized in this business.
Liberty Mutual Surety, a business unit of Liberty Mutual Insurance, has locations in more than 15 countries.
Was this article valuable?
Here are more articles you may enjoy.
Allianz Unit to Cut as Many as 1,800 Jobs in Push to Adopt AI 
Premiums Will Skyrocket by 2035; Discounts Not Enough for Wind Mit, Studies Say 
Merger Suits Stall Under DOJ Boss Who Opposes Blocking Deals 
Ryanair Passenger Partly Sucked From Jet After Window Breaks 
