New Main Street America Unit Targets Large Surety Accounts

The Main Street America Group has created a commercial surety national accounts unit to focus exclusively on large accounts.

The unit will be staffed by Merritt Willits, Paul Bergenholtz and Adam Rehn.

Willits, who has been appointed director, commercial surety national accounts, is heading the new national accounts team. He is also responsible for new business development in the Mid-Atlantic region of the U.S. and is based in Philadelphia, Pa.

Bergenholtz and Rehn are surety account management executives. Bergenholtz is responsible for business development throughout Northeastern states and is based in Hartford, Conn., and Rehn is overseeing business development in Southeastern states and is based in Atlanta, Ga.

Main Street America has been writing commercial surety bonds for large companies for many years, but wants to expand its business with firms with revenues up to $1 billion, according to Brian Beggs, vice president of Main Street America’s bonds department. The target markets include multiple location mortgage lenders/brokers, companies with large service and/or supply contracts in the public sector, and large court and probate accounts.

The U.S. Department of the Treasury recently raised Main Street America’s single surety bond capacity to $73.3 million.