Latest Surety Headlines
All the headlines from our Surety Topic Page, ordered by recency.
Main Street America’s Surety Bond Capacity Increased to $98M
Dec 12 2016 // The U.S. Department of the Treasury has raised The Main Street America Group’s NGM Insurance Company’s single surety bond capacity threshold to $98.6 million. The super-regional property/casualty insurance...
Beazley Adds Miami-Based Vieira to Specialty Surety Treaty Team
Nov 16 2016 // Beazley, a provider of specialist reinsurance, has added Stephan Vieira as a reinsurance underwriter in its Specialty Surety Treaty unit, providing treaty and facultative reinsurance for surety and ancillary...
Bonding Requirement Added for Maryland Structured Settlement Companies
Oct 28 2016 // A new bonding requirement for structured settlement factoring companies in Maryland took effect on October 1. The bonding requirement was introduced with the passing of Maryland Senate Bill 734 which specifies a number of...
QBE Approved by Treasury for $73.5 Million in Surety Bond Capacity
Sep 16 2016 // QBE Insurance Corp. (QBEIC) has been approved by the United States Department of Treasury as a Certified Company with an underwriting limitation (also referred to as a Treasury Listing) of $73.5 million per bond. This...
Vermont Law Tightens Regulation for Consumer Litigation Funding Companies
Aug 24 2016 // A new Vermont law introduces changes to the legal requirements for consumer litigation funding companies in the state. These companies will now need to get licensed and post a surety bond in order to operate...
AXIS’ Pesce Joins Navigators to Launch Surety Unit
Jun 22 2016 // Navigators Management Co., a division of the specialty insurance holding company The Navigators Group, has hired David Pesce to launch a new Contract and Commercial Surety department. Based in Iselin, New Jersey, Pesce...
What Agents Should Know About the Surety Bond Market
Jun 20 2016 // As a property/casualty insurance agent, you’re used to focusing on providing your clients with top-quality service and serving as a great resource for all insurance questions they might have. Then suddenly your...
Aspen Appoints Global Leaders for Surety and Credit & Political Risk
May 31 2016 // Aspen Insurance, the insurance segment of Bermuda-based Aspen Insurance Holdings Ltd., has announced the appointments of Mike Toppi as global head of Surety Risk and Paul Sanders as global head of Credit & Political...
EPIC Names Tan Surety Manager in Northern California
May 27 2016 // EPIC Insurance Brokers and Consultants has named Nick Tan surety manager. Tan will be based in EPIC’s San Ramon, Calif. construction services practice and report to Brian Quinn, regional director of...
Ironshore Appoints Nariño to Head Latin American Surety Lines Out of Miami
May 5 2016 // Ironshore Inc. announces that Adriana Nariño has joined as head of Surety for the Latin American Group, expanding capabilities for this specialty sector within the region. Narińo has more than 20 years’ experience...
Ironshore Acquires Remaining Interest in Lexon Surety
Apr 11 2016 // Bermuda-based specialty insurer Ironshore Inc. said it will acquire the remaining 80 percent equity interest in Lexon Surety Group and its surety-related affiliates. Ironshore said it will be an all-cash transaction. Lexon...
Oregon PGE Sues Backers of Construction Bond for $180M over Shoddy Work
Mar 31 2016 // A Portland, Ore.-based electricity provider that fired the contractor building its natural gas plant in Boardman is suing the backers of a bond guaranteeing construction. The East Oregonian reported Portland General...
Marsh Hires McDonough as Northeast Construction & Surety Practice Leader
Mar 17 2016 // Marsh announced that Rob McDonough is joining the broker to lead its Construction & Surety Practice in the Northeast. In this role, McDonough will be responsible for overseeing Marsh’s risk advisory and...
Hyperion Unit, RKH Specialty, Acquires UK Surety Broker, PMG
Feb 1 2016 // Specialty lines broker, RKH Specialty, part of the Hyperion Insurance Group, has acquired the UK’s largest independent specialist Surety broker, PMG Financial Services Ltd., subject to regulatory approval. Barnaby...
Berkshire Hathaway Specialty Enters Asia Surety Market; Ho Named Head
Dec 9 2015 // Berkshire Hathaway Specialty Insurance Company (BHSI) announced that it is entering the Surety market in Asia and has appointed Andrew Ho as Vice President, Head of Surety, Asia, based in Singapore. “Our expansion...
ACE Announces Future Leadership Team for Global Surety Business Unit
Dec 2 2015 // ACE Ltd. announced the leadership team it has appointed for the company’s Global Surety business unit, which will take effect upon completion of the acquisition of Chubb, expected in the first quarter of 2016. As...
Carwash Owners Sue New York City Over New Surety Bond Rules
Oct 22 2015 // A group of carwash owners have filed a lawsuit against New York City charging a new law illegally favors unionized carwashes. The Association of Car Wash Owners lawsuit centers on rules that require owners of nonunionized...
QBE Relocates Wulff to Hong Kong, Anticipating Growth of Credit & Surety in Asia
Sep 23 2015 // QBE Emerging Markets – Asia Pacific announced that its group general manager of Credit & Surety, Richard Wulff, will be relocating to Hong Kong from Singapore, effective January 2016. Wulff is relocating to...
Willis Names Wightman as Regional Surety Practice Leader
Sep 9 2015 // Willis North America has appointed David S.J. Wightman, as senior vice president and West Region surety practice leader, Willis North America. He is based in Houston. Wightman joins Willis from Aon where he most recently...
Treasury Increases Main Street America’s Surety Bond Capacity to $93.4 Million
Sep 1 2015 // The U.S. Department of the Treasury has raised The Main Street America Group’s NGM Insurance Company’s single surety bond capacity threshold to $93.4 million. The Jacksonville, Fla.-based super-regional...
