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Department Circular 570

4810-35

Section of the Treasury

Fiscal Service
(Dept. Round 570; 2021 Revision)

Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds and equally Acceptable Reinsuring Companies

Effective July i, 2021

This Circular is published annually for the information of Federal bond-approving officers and persons required to give bonds to the United States consistent with 31 CFR 223.16. Interim changes are published on the Surety Bond Program website as they occur. Other information pertinent to Federal sureties may be obtained from:

U.S. Section of the Treasury
Agency of the Fiscal Service
Surety Bonds Co-operative
200 Third Street
Room 1010
Parkersburg, WV 26106

304-480-6635

The most current list of Treasury authorized companies is ever available at the List of Certified Companies. In addition, applicative laws, regulations, and application information are besides bachelor at the same site.

Please notation that the underwriting limitation published herein is on a per bond basis but this does not limit the amount of a bond that a company can write. Companies are immune to write bonds with a penal sum over their underwriting limitation as long every bit they protect the excess amount with reinsurance, coinsurance or other methods every bit specified at 31 CFR 223.10-eleven. Please refer to Notation (b) at the end of this publication.

The following companies have complied with the police force and the regulations of the U.Southward. Department of the Treasury. Those listed in the front of this Round are acceptable as sureties and reinsurers on Federal bonds nether Title 31 of the The states Code, Sections 9304 to 9308 [Run across Note (a)]. Those listed in the back are adequate only equally reinsurers on Federal bonds under 31 CFR 223.3(b) [Encounter Note (due east)].

If we tin can be of any assistance, please feel gratuitous to contact the Surety Bonds Branch at 304-480-6635.

Tamela S. Saiko
Deputy Assistant Commissioner
Fiscal Accounting

Of import information is independent in the notes at the terminate of this round. Delight read the Notes advisedly.

Notes

(a) All Certificates of Dominance expire June 30, and are renewable July 1, annually. Companies holding Certificates of Say-so as acceptable sureties on Federal bonds are too acceptable as reinsuring companies.

(b) The Underwriting Limitations published herein are on a per bail basis. Treasury requirements do not limit the penal sum (face corporeality) of bonds which surety companies may provide. However, when the penal sum exceeds a company's Underwriting Limitation, the backlog must be protected past co-insurance, reinsurance, or other methods in accordance with 31 CFR Section 223.10, Section 223.11. Treasury refers to a bail of this blazon as an Backlog Chance. When Excess Risks on bonds in favor of the United States are protected by reinsurance, such reinsurance is to exist affected by apply of a Federal reinsurance form to be filed with the bond or within 45 days thereafter. In protecting such excess risks, the underwriting limitation in strength on the twenty-four hour period in which the bond was provided will govern absolutely. For further assistance, contact the Surety Bonds Branch at 304-480-6635.

(c) A surety company must exist licensed in the Land or other area in which information technology provides a bond, merely need not be licensed in the Land or other area in which the chief resides or where the contract is to be performed [28 Op. Atty. Gen. 127, Dec. 24, 1909; 31 CFR Section 223.v (b)]. The term "other surface area" includes the District of Columbia, American Samoa, Guam, Northern Mariana Islands, Puerto Rico, and the Virgin Islands.

License information in this Round is provided to the Treasury Department by the companies themselves. For updated license data, you may contact the visitor directly or the applicable State Insurance Section. Refer to the list of state insurance departments. For farther aid, contact the Surety Bonds Co-operative at (304) 480-6635.

(d) FEDERAL Process AGENTS: Treasury approved surety companies are required to appoint Federal process agents in accord with 31 The statesC. 9306 and 31 CFR 224.

(eastward) Companies holding Certificates of Authority as acceptable reinsuring companies are acceptable simply as reinsuring companies on Federal bonds and may not directly write Federal bonds.

(f) Some companies may be Approved surplus lines carriers in various states. Such blessing may indicate that the company is authorized to write surety in a detail state, even though the visitor is not licensed in the land. Questions related to this may be directed to the appropriate Country Insurance Section. Refer to the list of state insurance departments.

Footnotes

1. Allegheny Surety Company (NAIC #34541) voluntarily relinquished their Treasury Certificate of Authority effective January 26, 2021.
2. AMERICAN BANKERS INSURANCE COMPANY OF FLORIDA (10111) voluntarily relinquished their Treasury Certificate of Say-so effective June thirty, 2021.
3. AMERICAN CONTRACTORS INDEMNITY Company (NAIC #10216) is required by state law to conduct business organisation in the state of Texas as TEXAS BONDING COMPANY.  However, business is conducted in all other covered states as AMERICAN CONTRACTORS INDEMNITY COMPANY.  ↩
4. First Freedom Insurance Corporation (The) (NAIC #33588) voluntarily relinquished their Treasury Certificate of Authority effective June 30, 2021.
5. Hartford Insurance Company of Illinois (NAIC # 38288) voluntarily relinquished their Treasury Certificate of Authority effective June thirty, 2021.
6. Hartford Insurance Visitor of the Southeast (NAIC # 38261) voluntarily relinquished their Treasury Certificate of Authority effective June 30, 2021
7. Indemnity Visitor of California (NAIC 25550) has merged with Developers Surety and Indemnity Company (NAIC 12718).  The effective date of the merger is December 31, 2020.↩
8. International Fidelity Insurance Company's (NAIC #11592) name is very like to another company that is NOT certified past this Department. Please ensure that the name of the Visitor and the land of incorporation are exactly as they announced in this Round. Do non hesitate to contact the Company to verify the authenticity of a bond.  ↩
9. Liberty Insurance Corporation (NAIC #42404) voluntarily relinquished their Treasury Certificate of Authority effective June 30, 2021.
10. Motorists Commercial Mutual Insurance Visitor (NAIC #13331) voluntarily relinquished their Treasury Document of Authorisation effective June 30, 2021.
11. Ohio Security Insurance Corporation (NAIC #24082) voluntarily relinquished their Treasury Certificate of Authorization effective June 30, 2021.
12. Sentry Insurance a Common Company (NAIC #24988) changed its proper noun to Sentry Insurance Company. The effective appointment of the change is January one, 2021.↩
13. United Casualty and Surety Insurance Visitor (NAIC #36226) is required past state constabulary to conduct business organisation in the country of Texas equally "US Casualty and Surety Insurance Company". Additionally, in California business is conducted using the "United Surety Insurance Company" moniker. Business organization is conducted in all other states as "United Casualty and Surety Insurance Company". ↩

Concluding modified 07/01/21

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Source: https://www.fiscal.treasury.gov/surety-bonds/circular-570.html

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