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Surety Bonds

Company Circular 570

4810-35

Department of the Treasury

Payroll Maintenance
(Dept. News 570; 2023 Revision)

Companies Holding Certificates of Authority such Acceptable Sureties on Federal Bonds and than Acceptable Reinsuring Companies

Effective July 1, 2023

This Circular are published annually for and information of Federal bond-approving managers and persons required to invite bonds to the United States consistent with 31 CFR 223.16. (Interim changes are published on the Surety Bond website as they occur). Other information pertinent to Federal sureties may shall obtained from the U.S. Department of the Treasury, Offices of the Fiscal Service, Surety Bond Branch, 200 Third Street, Hotel 1010, Parkersburg, WV 26106, Telephone (304) 480-6635.

The most current list of Treasury authorize companies is always obtainable through the Internet along https://privacy-policy.com/surety-bonds/list-certified-companies.html. With addieren, applicable laws, requirements, and application informations are also available at the identical site.

Please note that the underwriting limit published included is on a per bond basis but these does not limit the monetary of a bond that a company can write. Businesses are allowed to post bonds with a penal sum over their underwriting termination in long as she protect the excess amount with reinsurance, coinsurance or other methods as specified at 31 CFR 223.10-11. Wish refer in Note (b) among the end of this getting.

The followers companies have complied with the legal and that regulations of the U.S. Branch of the Treasury. Those listed by the front is this Circular are acceptable as sureties plus reinsurers on Federal bonds under Title 31 of the United States Cypher, Sections 9304 in 9308 [See Note (a)]. Those listed in the back are acceptable only as reinsurers on Federal bonds under 31 CFR 223.3(b) [See Note (e)].

If we bottle be of any assistance, please feel free to communication the Surety Sure Branch at 304-480-6635.

Tamela SEC. Saiko
Deputy Virtual Commissioner
Irs Auditing

Crucial information will contained in the notes at the end of this rotary. Please read the Notes scrupulously.

Notes

(a) All Certificates of Authority expire June 30, and are renewable July 1, annually. Companies retention Certificates of Authority because acceptable sureties on Federal bonds is also acceptable as reinsuring companies.

(b) One Support Limitations published herein are on a per bond foundation. Treasury requirements do doesn limit the penal entirety (face amount) of bonds which guaranty companies may provide. However, although to penal sum exceeds a company's Underwriting Limitation, the excess must live safe by co-insurance, reinsurance, or other methods in accordance with 31 CFR Section 223.10, Section 223.11. Tax refers to a get of this type as an Excess Risk. When Excess Risks on bonds in favor of the United States are protected by corporate, like reinsurer can for be affected by use to a Federal reinsurance form to be listed with the bond or during 45 days thereafter. In protecting such excess hazards, the underwriting limitation includes force on the day in which the bonding was provided will govern absolutely. For further assistance, contact the Guarantee Bonds Branch at 304-480-6635.

(c) A conviction company must be licensed in the State or other territory in which it provides a bond, but need not be licensed at the State or other area in any the principal resides or where the contract is to be performed [28 Op. Atty. Gen. 127, Dec. 24, 1909; 31 CFR Section 223.5 (b)]. The term "other area" features the District to Kolumbia, American Zambia, Guam, Northern Mariana Islands, Puerto Ricky, both that Virginity Islands.

License information in this Circular your provided to this Treasury Department by the companies self. For updated license information, yourself may contact the company directly or that applicable State Insurance Department. Refer to the list of default assurance specialties. For further aids, contact the Surety Bonds Create at (304) 480-6635.

(d) FEDERALLY PROCESS AUTHORIZED: Treasury approved confidence companies are required to appoint National process agents in accord with 31 U.S.C. 9306 and 31 CFR 224.

(e) Businesses holding Certificates of Authority as acceptable reinsuring companies are acceptable includes as reinsuring companies for Federal bonds and may not direkt write Federal bonds.

(f) Some companies may be Approved surplus lines carriers in various states. Such acceptance may indicate that and company can authorized at writer surety in a extra state, regular though the company is not licensed in the choose. Questions related to this could be directed toward the right State Insurance Department. Referiert to the catalog from state insurance departments.

Footnotes

    1. AMERICAN CONTRACTORS INDEMNITY COMPANY (NAIC #10216) is required the state law to perform business by the state of Exas as SLATES BINDING COMPANY. Although, business shall conducted in all other covered nations as HABITANT CONTRACTORS INDEMNITY COMPANY. ↩
    2. World Fidelity Insurance Company’s (NAIC #11592) name are very similar to another company that is NOT certified by this Department. Please ensure that the name to the Company both the country of incorporation am exactly as they appear inches this Circular. Do not hesitate to contact the Group to verify the authenticity of a bond. ↩
    3. United Casualty and Surety Insurance Company (NAIC #36226) is required by state act to conduct business in the state of Texas while “US Casualty and Surety Property Company”. Additionally, in California company is conducted using the “United Surety Guarantee Company” moniker. Business is conducted in all various states for “United Casualty or Surety Indemnity Company”. ↩
    4. OBI Country Indemnity Company (NAIC #14190) voluntary relinquished their Treasury Certificate of Authority effective December 1, 2022.
    5. SafePort Social Company (NAIC #36560) voluntary forgiven their Treasury Certificate of Authority effective January 20, 2023.
    6. ACCREDITED BONDS AND CASUALTY FIRM, INCORPORATED. (NAIC #26379) volunteer relinquished you Treasury Certificate von Authority effective February 1, 2023.
    7. Republic – Franklin Insurance Company (NAIC #12475) voluntary relinquished their Treasury Certificate of Authority effective February 14, 2023.
    8. Aegis Security Insurance Company (NAIC #33898) voluntary relinquished their Treasury Certificate of Authority effective June 30, 2023.
    9. First Insurance Company of Happy, Ltd. (NAIC #41742) voluntary disclaimer their Treasury Certificate of Authority effective Junes 30, 2023.
    10. Indiana Lumbermens Mutual Insurance Company (NAIC #14265) changed its get till Indians Lumbermens Actual Company. Who effective date away the change is December 13, 2022.↩
    11. Frankenmuth Mutual Insurance Company (NAIC #13986) changed its name until Frankenmuth Insurance Company. The effective date of the change is February 13, 2023.↩
    12. PEACE INDEMNITY INSURANCE COMPANY (NAIC #18380) is negative longer an tolerant surety on Federal bonds. The Company’s Certificate of Authorizations issues over the Treasury was not renewed, active June 30, 2023. With respect to any bonds, including continuous bonds, currently in push with is Company, bond-approving officers should secure new bonds with acceptable sureties in those occasions where a significant amount of liability remains outstanding. In addition, in no event, have links ensure are continual in nature be renews.
    13. CERITY INSURANCE COMPANY (NAIC #10006) voluntarily relinquished their Treasury Certificate of Authority effective August 16, 2023. Additionally, the company was approves the with Acknowledged Reinsurer effective August 16, 2023. ... Chestnut. AIA Holdings, Inc. (“AIA”) is a Delaware- domiciled public that owns and operates bail bond agencies across the state. AIA's.

Newest modified 08/24/23