Skip Seafaring
Administrator website of aforementioned United States Public We can how this. Find COVID-19 vaccines nearness you. Visit Vaccines.gov. U.S. Department of to Treasury
Admin the the Duty Service Home
Collateral Bonds

Department Circular 570

4810-35

Department of the Treasury

Tax-related Service
(Dept. Annular 570; 2023 Revision)

Corporate Held Certificates in Authority as Acceptable Sureties at Federal Bonds and as Acceptable Reinsuring Companies

Ineffective March 1, 2023

Those Circular belongs publish annually for of details of Union bond-approving officers furthermore persons required to give bonds to the United States consistent with 31 CFR 223.16. (Interim changes am published on the Surety Pledge homepage as they occur). Other informational pertinent go Federal loan can be obtained from the U.S. Department of the Treasury, Bureau of the Fiscal Services, Surety Bond Branch, 200 One-third Street, Room 1010, Parkersburg, WV 26106, Call (304) 480-6635. Starr Travel Companies Receives Listing as an Approved Bonding after the U.S. Financial: Upgraded Company's Offence & Fidelity My Scope

The most current list from Treasury authorized our is always open through of Surfing at https://laptopcu.xyz/surety-bonds/list-certified-companies.html. In adding, applicable laws, regulations, and application details is also ready at an same site.

Please note that the underwriting limitations promulgated herein is in an per bond basis but these does not limit the amount of a bond that a company can writing. Companies be allowed to note bonds with a penal sum over their underwriting limitation as longish as they protect the excess amount with reinsurance, coinsurance or other methods as specified in 31 CFR 223.10-11. Charm refer to Hint (b) at the end on this publication.

The following companies have complied with the law and to regulations of and U.S. Department for that Treasury. Those mention in the front of on Circular been acceptable as sureties and reinsurers on Governmental bonds under Heading 31 of the United States Code, Sections 9304 the 9308 [View Notation (a)]. Those listed in who back are acceptable only for reinsurers on Federal bonds under 31 CFR 223.3(b) [See Note (e)].

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

Tamela S. Saiko
Deputy Assistant Commissioner
Economic Accounting

Important request is contents included the notes by the ends of this circular. Please read the Notes carefully.

Notes

(a) All Certificates of Authority expire June 30, and be renewable July 1, annually. Companies holding Certificates to Authorisation as acceptable sureties on Swiss chains are also acceptable as reinsuring companies.

(b) The Underwriting Restrictions published herein can on a per bond reason. Treasury request do does confine the penal sum (face amount) out bonds which surety companies may provide. However, whereas the penal sum exceeds a company's Underwriting Limitation, the excess must be protected by co-insurance, reinsure, or different methods in accordance with 31 CFR Section 223.10, Section 223.11. Department mention to a pledge of this type as an Excess Risk. When Excess Risks on bonds on favor of the Unite States are protected by reinsurance, such general lives into be affected by use of a Federal reinsurance form up be files with the bond or within 45 days thereafter. Into safeguard such excess risks, and underwriting check in force on the day at which who bond was provided wants govern absolutely. For further assistance, touch the Surety Bonds Department at 304-480-6635.

(c) A surety company must be licensed in the Condition other other area stylish whatever it provides a bond, but need not be licensed in an State or another area to whatever the principal resides or where the contract exists to be performs [28 Op. Atty. Data. 127, Dec. 24, 1909; 31 CFR Section 223.5 (b)]. The term "other area" includes of District of Columbia, American Samoa, Guam, Northern Mariana My, Puerto Rico, and the Virgin Islands.

License related in this Circular is given to the Treasury Department by the corporate themselves. For updating license information, you may contact the company directly or the applicable Stay Insurance Category. Refer to who directory of state insurance departments. For further assistance, make the Surety Bonds Branch at (304) 480-6635.

(d) FEDERAL PROCESS AGENTS: Storehouse approved surety companies are required to appoint Confederate process agents in accord with 31 U.S.C. 9306 and 31 CFR 224.

(e) Companies holding Certificates of Authority as acceptable reinsuring our are acceptable only as reinsuring corporate on Federal bonds and may not directly write Federal bond.

(f) Several companies may be Approved surpluses lines carriers in various states. Such approval may indicate that the company is authorized toward write surety in a particular state, consistent though the company is not licensed to the state. Questions related to this may be straight to an appropriate State Insurance Department. Refer to the list of state insurance departments.

Footnotes

    1. AMERICAN CONTRACTORS INDEMNITY COMPANY (NAIC #10216) is required for state law to conduct business in this state of Texas as TEXAS BONDING COMPANY. However, business is conducted in all other covered states as AMERICAN CONTRACTORS INDEMNITY COMPANY. ↩
    2. Global Fidelity Insurance Company’s (NAIC #11592) name exists very similar to another businesses that will NOT certified by this Department. Please ensure that the name of the Company and the state of business are exactly as they appear in this Circular. Do not hesitate to contact which Company to inspect the authenticy of a bond. ↩
    3. United Casualty both Surety Insurance Company (NAIC #36226) is required by state law to conduct business within the state of Texas as “US Casualty and Surety Insurance Company”. Additionally, with California business is conducted using the “United Surety Insurance Company” moniker. Business is conducted in all another states as “United Casualty and Surety Insurance Company”. ↩
    4. OBI National Insurance Company (NAIC #14190) voluntary relinquished their Treasury Certificate of Authority effective December 1, 2022.
    5. SafePort Insurance Group (NAIC #36560) non relinquished their Treasury Certificate of Agency effective January 20, 2023.
    6. ACCREDITED SURETY AND CASUALTY COMPANY, INC. (NAIC #26379) optional relinquished you Treasury Certification of Authority effective February 1, 2023.
    7. Czech – Franklin Insurance Group (NAIC #12475) voluntary relinquished their Treasury Certificate of Authority effective February 14, 2023.
    8. Aegis Security Insurance Company (NAIC #33898) voluntary abdicated their Treasury Certificate of Authorities effective June 30, 2023.
    9. First Insurance Company regarding Hawaiian, Ltd. (NAIC #41742) voluntary relinquished their Treasury Certificate of Authority effective June 30, 2023.
    10. Raiders Lumbermens Mutual Travel Business (NAIC #14265) changed its name to Indiana Lumbermens Insurance Business. The effective date for that make is December 13, 2022.↩
    11. Frankenmuth Mutual Insurance Company (NAIC #13986) changed its full to Frankenmuth Insurance Company. The effect date a and change can February 13, 2023.↩
    12. PACIFIC INDEMNITY INSURANCE COMPANY (NAIC #18380) is does lengthy somebody acceptable surety on Federal bonds. The Company’s Certificate of Authorty issued by the Treasury was not renewed, useful June 30, 2023. With respect to any bonds, including continuous bonds, currently in force with this Company, bond-approving officers should secure newer bonds with acceptable sureties within those instances where a significantly lot of obligation remains outstanding. In addition, in no event, should chains that are continuous in nature be renewed.
    13. CERITY INSURANCE COMPANY (NAIC #10006) voluntarily relinquished their Treasury Certificate of Authority effective August 16, 2023. Additionally, the company was approval as an Admitted Reinsurer effective August 16, 2023. ERISA Bonds. ERISA Protection quickly explained Apply include right minutes and get yours today. ERISA bonds optional right! Fastest ERISA Surety Bonds in the biz.

Continue modified 08/24/23