Old Republic Surety Company announced today that they have increased the limits of their FastBond product. Old Republic Surety’s Fastbond program has increased from $250,000 to $400,000 for the credit-only. Additionally, the single limit/aggregate of their FastBond program has increased from $750,000 to $1,250,000.
Old Republic Surety’s FastBond program is designed for smaller, growing contractors, or for contractors who have occasional bond needs. The underwriting of their FastBond program is primarily credit based. Surety bonds based primarily on credit, or FastBonds, simplify the bonding process for independent agents as well as for contractors.
Our FastBond program has been extremely successful since its inception,” states Alan Pavlic, President and COO of Old Republic Surety, “We strive to respond to the needs of the marketplace. Our strong underwriting principles will help ensure that this program continues to be a tremendous asset for our appointed agents and their contractors”. Old Republic Surety’s FastBond program targets fast turn projects for all construction trades.
Old Republic Surety Company is a standard market for general contractors, supply contractors, and all major subcontractor trades. The company writes bond programs in all 50 states and has a contract bonding capacity of $50 million. Insurance contracts are underwritten and issued by Old Republic Surety Company, rated “A” by A.M. Best. Contract bonds guaranty the performance and fulfillment of all undertakings promised in a contract.
About Old Republic Surety Company
Old Republic Surety Company ranks among the nation’s top underwriters of contractors’ performance and payment bonds, miscellaneous surety, and commercial fidelity, offering thousands of types of bonds. More than 4,000 independent insurance agencies market Old Republic Surety financial indemnity products throughout the United States. Headquartered in Brookfield, Wisconsin, Old Republic Surety Company is part of the Old Republic General Insurance Group, the largest business segment within Old Republic International Corporation, one of the nation’s 50 largest publicly held insurance organizations.