Graduate from the SBA

Congrats to the kids!!  They finally made it.  Now its their time to move on and move up.  What about contractors in the SBA Bonding program?  Is it their time to graduate?

The SBA program is a great help, and the people are awesome: dedicated, helpful.  But the program has a down side.  It costs time and money to obtain their bonding support.  So if a contractor could get federal and other projects without this extra step, why wouldn’t they?

Here’s what you gain, more or less, by graduating into a regular surety relationship:

More

  • Time to pursue productive activities – new projects, strategic planning, employee training, educational opportunities, etc.
  • Time for other personal and family priorities
  • Profits on your projects and financial statement overall
  • Increased profits can lead to higher bonding limits and bigger projects
  • Credibility – a graduated company no longer needing extra help

Less

  • Bonding expenses (bond premium plus SBA fee) on each project
  • Time spent filling out double forms for the surety and the SBA
  • Answering questions to both
  • Waiting for approvals

OK, so if graduating sounds great, how do you do it?

Step one: Ask the current bonding company to provide bonds without the SBA program.  If they do it, you can thank us later!

Step two: If they refuse, call FIA Surety!  We provide bonds for federal and local projects without the need for SBA support.  It takes a creative, experienced surety to graduate contractors.   FIA has been providing Bid, Performance & Payment, Site and Subdivision Bonds since 1979. We’re steady.  We’re willing.  We’re creative.

It’s time to graduate!

For Site, Subdivision, Bid and Performance Bonds call Steve Golia: 856-304-7348

FIA Surety / First Indemnity of America Insurance Company, Morris Plains, NJ

We are currently licensed in: NJ, PA, DE, MD, VA, NC, SC, WV, TN,  FL, GA, AL, OK, TX

Get to Know FIA Surety: Bruce Nash

Here is surprising info about Bruce Nash, a key person at FIA Surety.

Nurture vs. Nature.

Bruce didn’t have a choice. His family was married to the lake.

Our Bruce was born in the beautiful town of Lake George, NY and he has two siblings. The main feature of the town is… obviously the lake. 32 miles long, with over 170 islands, this is a gorgeous Adirondack setting. And Bruce’s family had strong ties to it.

The family business was a marina his grandfather founded in 1928. Bruce grew up in the business where he did “everything.” They loved the water, and this meant boating and also sea planes flown on the lake.

Bruce’s grandmother was the first female commercial pilot in Warren County, New York and part of the WAACS (Women’s Army Auxiliary Corps) during WWII. Bruce’s grandmother and grandfather both trained pilots before, during and after the war.

This is his grandfather’s 1928 Garwood, “The Jug,” it was the super boat of its day. Some were called “Rum Runners,” because those equipped with V-12 engines could outrun the prohibition era police boats! Bruce’s grandfather was a Garwood dealer and bought it new. Bruce won dozens of awards for maintaining it in its original condition.

Bruce worked three jobs to put himself through college, a graduate of DePaul’s computer programming school in Chicago.

When boating season ends, upstate New Yorkers turn to winter sports. After college Bruce took a position with Bombardier Corp, a snowmobile manufacturer. Over the course of ten years he rose to become Director Systems and Marketing for the U.S. operations in Chicago.

His next employment was with the owners of The Robert Plan (Div. of AIG) where he became President of a boat manufacturing facility located just outside of Nashville, TN. After a few years he moved to N.Y. where he became Sr. VP and Chief Information Officer of their Assigned Risk Auto business. His Robert Plan boss left the firm to become president of FIA’s sister company First MCO, and he enticed Bruce to join him.

He became head of our IT department and is now the President and COO of our sister company First Managed Care Option, Inc. and ActiveCare Scheduling (a PT and Imaging Facility scheduling service.)

Bruce designed a state-of-the-art system for the managed care of auto and workers comp claims – which is the function of First MCO. This rapidly growing business currently employs eighty people and is housed at FIA’s Morris Plains home office.

He also developed a specialized imaging system that allowed FIA to move all its archived and active paper files into one central electronic location.

“IT Geek?” No, not Bruce! Like his grandfather and grandmother before him, he became an aviator. Naturally, this led to skydiving (gulp!). The snowmobile business inspired him to become an accomplished snow racer. He was also a SCUBA diver and moto-cross (motorcycle) racer!

Today, Bruce manages to skip most of the high-risk activities, but he is a Merchant Marine Captain and avid deep-sea fisherman.

Bruce brings great technical skills, plus a bit of “dash” to our FIA family. He is a valued member of the team!

For Site, Subdivision, Bid and Performance Bonds call Steve Golia: 856-304-7348

FIA Surety / First Indemnity of America Insurance Company, Morris Plains, NJ

We are currently licensed in: NJ, PA, DE, MD, VA, NC, SC, WV, TN,  FL, GA, AL, OK, TX

Get to Know FIA Surety: Glenn A. Runne, CFO

He’s a CPA, but he only uses his powers for good…

Super CPA

Glenn Runne was born in Kew Gardens, Queens N.Y. and grew up in North Bergen, N.J. He is the oldest of three kids.

His mom was a secretary and dad drove a truck. They also owned a neighborhood Bar and Grill for a few years.   From an early age they stressed the importance of a college degree. Typical for a “first born,” Glenn became a high achiever.

Glenn graduated North Bergen High School in 1972 and Montclair State University in 1976 with a BS in accounting and finance. He paid his own way through.

With a degree in hand, Glenn landed an accounting management position at N.J. Life Insurance Company. This gave him a strong foundation and he became a Certified Public Accountant in 1987!

A couple of years later, Glenn’s brother-in-law introduced him to Pat Lynch. Pat’s young company, First Indemnity of America Insurance Company, was in its second year.  Glenn’s expertise in accounting and taxes was a perfect fit. He joined the firm as VP and CFO in 1979.

In 2012 Glenn received the coveted “Chartered Global Management Accountant” designation.  This is international recognition of the world’s top professionals in his field!

More accomplishments:

  • Plaza School of Business – Adjunct Accounting instructor
  • Bergen Community College – Adjunct Accounting instructor
  • The Children’s Corner, Founder, Treasurer and Board of Directors member of a non-profit childcare center
  • Lake Hiawatha Country Club – Treasurer, Board of Directors member
  • Fellow in the American Institute of Public Accountants
  • And the New Jersey Society of Certified Public Accountants.

With the help of his wife, Denise, Glenn raised 3 daughters: All college graduates with master’s degrees. Two girls became teachers and one is a certified public accountant. The apples fell close to the tree.

Glenn’s outside interests are physical fitness and attending New York Giants football games with his long-time season tickets.

If you did the math you see that Glenn is one of Pat’s many long-term employee/colleagues. His work has expanded proportionately with our organization.  Currently, Glenn oversees the accounting for our seven companies which includes three audits. He is also responsible for all the tax returns, plus forty-five states where we file.  Whew!

The dedication of long-term colleagues like Glenn is one of FIA Surety’s greatest strengths. 

Carry on, Glenn!

For Site, Subdivision, Bid and Performance Bonds call Steve Golia: 856-304-7348

FIA Surety / First Indemnity of America Insurance Company  Visit us: www.fiagroup.com
We are currently licensed in: NJ, PA, DE, MD, VA, NC, SC, WV, TN,  FL, GA, AL, OK, TX

NO GOOD REPORT FOR FIA SURETY

Oh, the irony!

Last week Patrick Lynch Jr. received glowing praise over our handling of a recent bond request.  He asked the agent, “Wow thanks, do you mind if we use that in our advertising?”  The agent refused!

Why?  He said he wants to keep us all to himself!    Gotta love it.

Are you that enthusiastic about your surety underwriters?  Find out what you’re missing…

For Site, Subdivision, Bid and Performance Bonds call Steve Golia: 856-304-7348

FIA Surety / First Indemnity of America Insurance Company  Visit us: www.fiagroup.com
We are currently licensed in: NJ, PA, DE, MD, VA, NC, SC, WV, TN,  FL, GA, AL, OK, TX

Get to Know FIA Surety: Paul Alongi, Sr., Claims Manager

When was the last time you spoke to a personal friend of Joe Pesci and Frankie Valle? Ok, never? Well, meet our Claims Manager, Mr. Paul Alongi, Sr.

Paul was born in Newark, the oldest of four children and graduated from Barringer High School.  Joe Pesci and Frankie Valle were among his friends. Born with a love of music, he learned to play tenor sax at age 7.  As a big band member, his group backed up Connie Francis, Dion and the Belmonts, Tony Bennet, Xavier Cougat, Al Martino and others.  To this day, Paul is an active musician playing in several venues.

He was athletic, too!  Paul tried out for the NY Yankees in these early years.

Paul started his insurance career in the actuarial department of U. S. Life and studied for his law degree at night. In five years, he graduated from Seton Hall Law School and started his law practice.

While running for public office, Essex County Freeholder, he met a fellow candidate, Patrick Lynch.  Years later this would result in Paul joining Pat’s young company “First Indemnity of America Insurance Company / FIA Surety” to become our first Claims Manager.  He’s been a valuable asset all these years.

Paul has served on the Bloomfield Board of Education (President), the New Jersey Commission of Investigations, and has also been a long-time leader in many community organizations, including: the Bloomfield Federation of Music and Civic Band, the Garden State Concert Band, St. Thomas the Apostle Parish and Finance Councils, Holy Name Society and Circle of Friends.

Paul is a highly experienced problem solver and, he is accessible to our agents and clients!  973-541-3414

FIA Surety / First Indemnity of America Insurance Company, Morris Plains, NJ

We are currently licensed in: NJ, PA, DE, MD, VA, NC, SC, WV, TN,  FL, GA, AL, OK, TX

 

Site and Subdivision Bonds – The Sequel

In March we told you why Home builders and their Bonding Agents love Site and Subdivision bonds.  (Click to read prior message)  But don’t take our word for it.  Here’s what the International Risk Management Institute has to say about it:

“Corporate surety bonds are far and away the most preferred option for most owner/developers when you consider the potential disadvantages of the alternative guarantee forms.” (Click for entire article)

Clearly, the smart move for home builders and their bond agents is a surety bond.  And the bonding company you want is the specialist, long devoted to this market.  Unwavering since 1979.

Call FIA Surety.  It’s the smart move.

Steve Golia 856-304-7348

FIA Surety / First Indemnity of America Insurance Company, Morris Plains, NJ

We are currently licensed in: NJ, PA, DE, MD, VA, NC, SC, WV, TN,  FL, GA, AL, OK, TX

 

CE Rescue!

It’s May and now you’re a month closer to your insurance license renewal…  Your CE rescue is here!

FIA Surety is proud to announce we have re-opened our free Continuing Education program.  You may know, we are an accredited CE provider in NJ and PA, and can provide the free CE course on your premises.

Give us a call to set up your class.  We are now accepting dates in June.  All the proper safeguards will be used to protect the class participants.

Free CE credits from FIA Surety!  Call us: 856-304-7348

Since 1979, FIA has been your dependable bonding company for Site, Subdivision, Bid and Performance Bonds.

FIA Surety / First Indemnity of America Insurance Company, Morris Plains, NJ

We are currently licensed in: NJ, PA, DE, MD, VA, NC, SC, WV, TN,  FL, GA, AL, OK, TX

 

See Inside FIA Office

OK, that’s not really our office.  But we want to assure you – we’re here issuing bonds, underwriting new business and making new friends!

Be careful and safe like us (not like the picture!)  FIA wants to help with the surety bonds you need including Bid, Performance, Site and Subdivision.

FIA Surety: A bonding company serving independent agents and the construction industry since 1979.

Steve Golia 856-304-7348

FIA Surety / First Indemnity of America Insurance Company, Morris Plains, NJ

We are currently licensed in: NJ, PA, DE, MD, VA, NC, SC, WV, TN,  FL, GA, AL, OK, TX

This is NOT about the virus!

We know you’re sick of hearing about the virus! Here is some good news for a change:

FIA is open to help you with Site and Subdivision Bonds!  Most sureties won’t write these but at FIA, it’s our specialty.

More good news: We also write Down-Payment Bonds for Home Builders, freeing up cash and credit for new projects.

Virus or no virus, projects are moving forward, and surety bonds are needed by developers and home builders. If you have an immediate need for a Site/Subdivision bond or want to replace an existing ILOC with a bond, call us at 856-304-7348.

FIA Surety: We’re OPEN for business!

Steve Golia, Marketing Mgr. 856-304-7348

FIA Surety / First Indemnity of America Insurance Company, Morris Plains, NJ

We are currently licensed in: NJ, PA, DE, MD, VA, NC, SC, WV, TN,  FL, GA, AL, OK, TX

#170: Why Developers LOVE Subdivision Bonds

When developers and home builders start a new project, they must give security to the local township. This guarantees construction of the “public improvements.”

The security can be in cash, an irrevocable letter of credit (ILOC), or a subdivision bond (surety bond).

Why is a bond the best method?

  • Developers retain the use of their cash. Keep it available to acquire and finance new projects. Use it to solve problems. Remember, cash is king!
  • More control if there is a claim: They are processed through the bonding company. There is a discovery process. The developer has input and more control than with an ILOC. With an ILOC they can simply grab the developer’s money!
  • Better long term protection. These guarantees are hard to close, may drag on for years. The township is in no hurry to give up their security. It’s easy to renew the bond and you’re good for another year.

Developers and home builders love subdivision bonds – especially if they obtain them from one of the industry’s strongest players: FIA Surety. We have supported developers and home builders with subdivision bonds since 1979.

Call us for your next one or to replace existing security you have already filed.

Steve Golia, Marketing Mgr. 856-304-7348

FIA Surety / First Indemnity of America Insurance Company, Morris Plains, NJ