site bonds

SURETY: A Question for the Ages

Steve GoliaLeave a comment

Rate or Capacity? Which is more important for contractors?

Pork Chops, only $.89 per lb!!
But sorry, we’re all out of ’em…

Surety Bonds can be like that: A great price (low rate), but they’re all out – no capacity available. So there lies the answer. An awesome bond rate is useless if the underwriter is inflexible, unresponsive, and does not provide capacity when needed.

This is where FIA Surety comes in! We are highly experienced, big-picture underwriters. Each of our underwriters has between 20 and 40 years experience. You don’t have to train us!!

When your regular underwriters “don’t get it,” give us a call for a creative response. We are true surety experts! Contract, Site and Subdivision bonds in all states.

First Indemnity of America Insurance Company
2740 State Route 10 West, Suite 205
Morris Plains, NJ 07950-1258
856-304-7348

http://www.fiasurety.com


Providing A rated, T-Listed bonds in all states!

“Here is the outcome of the Presidential Election!”

Steve GoliaLeave a comment

Boy, you just can’t wait to hear those words! We’re all sick of the political ads.

So here’s a refreshing change of pace: We just completed a radio show for the Atlanta Real Estate Forum: Why Home Builders LOVE Subdivision Bonds. Click to listen.

FIA Surety / First Indemnity of America Insurance Company
2740 Rt. 10 West, Suite 205
Morris Plains, NJ 07950
Office: 973-541-3417
Visit us: www.fiagroup.com
We are currently licensed in: NJ, PA, DE, MD, VA, NC, SC, WV, TN,  FL, GA, AL, OK, TX

172. Eureka! Agent Finds Gold Nugget!

Steve GoliaLeave a comment

It was right there all the time, and he didn’t know it!

These “gold nuggets” are missed commission opportunities within your current client base, and they’re NOT hard to find.

Some of your client’s activities must be guaranteed with a 1. Cash Bond, 2. Irrevocable Letter of Credit (ILOC) or 3. Surety Bond. Experts agree* that a surety bond is best. You can find these transactions that are not bonded, and offer to replace the existing security with a Site or Subdivision Bond. Here’s how:

  1. Search your clients for those who have added GL codes 91581, 91583 or 91585. These codes mean your client has added Subcontracting Exposures in connection with property development.
  2. Such projects may require a guarantee to the township for Public Improvements (work such as curbs, sidewalks, etc. your client is required to perform at their own expense.)
  3. If they used a Cash Bond or ILOC, they may unnecessarily tie up their cash – possibly for years! A Surety Bond can be filed to release the cash immediately, and YOU win a “Gold Nugget!“

Start panning, and call when we can help. When it comes to Site and Subdivision bonds, We’re Golden! Try us!

Steve Golia
FIA Surety / First Indemnity of America Insurance Company
2740 Rt. 10 West, Suite 205
Morris Plains, NJ 07950
Office: 973-541-3417
Visit us: www.fiagroup.com
Cell: 856-304-7348 
Currently licensed in: NJ, PA, DE, MD, VA, NC, SC, WV, TN,  FL, GA, AL, OK, TX

*International Risk Management Institute – About Site and Subdivision Bonds