The Company has initially established bonding limits of $1,000,000 for a single bond and $2,000,000 aggregate per contractor account (multiple bonds on different projects). With the implementation and support of reinsurance, we anticipate increasing the bond limits to a minimum of $5,000,000 single and $10,000,000 aggregate.
Underwriting authority will lie with the Company, whereby all bond submissions will be reviewed, underwritten and issued by the Company’s underwriting department. Internal underwriters will be granted limited amounts of authority based on their experience and expertise, and all bonds will require the approval of a member of senior management.
Trade Credit and Special Risk policies can be considered up to $50,000,000 in face value
Expedite Re is an associate partner of Barbican Speciality Re (BSR)