The U.S. Department of the Treasury has raised The Main Street America Group’s NGM Insurance Co.’s single surety bond capacity threshold with limits available up to $73.3 million.
The Treasury Department’s expansion of Main Street America’s surety bond capacity reflects the regional property/casualty insurance carrier’s 2010 surplus growth of $78 million, increasing its total surplus to $770 million.
Main Street America has provided surety bond products to “main street” businesses and individuals since 1961 through its network of independent insurance agents.
Main Street America’s surety bond offerings include:
- Contract/construction surety bonds, including both performance and payment bonds.
- Commercial surety bonds, such as license or permit bonds and public official bonds.
- Fidelity bonds, including a commercial crime policy that covers robbery, burglary and depositor’s forgery.
Independent agents can order and process NGM Insurance Co. commercial bonds through Main Street Station for Bonds, the company’s proprietary processing system.