Mark Friedlander
The Main Street America Group
(904) 380-7461
/
News Release
The Main Street America Group Announces
Expanded Surety Bond Capacity
Provides Independent Insurance Agents and Their Customers Enhanced Surety Opportunities
JACKSONVILLE, Fla., May 31, 2007—The Main Street America Group, a super regional property-casualty insurance carrier, announced today the U.S. Treasury Department has raised its NGM Insurance Company’s single surety bond capacity threshold with limits available up to $54 million per bond.
Main Street America has provided a full line of competitively priced surety products to Main Street businesses and individuals since 1961 through its network of independent insurance agents.
“The U.S. Treasury Department’s increase of our surety capacity is a reflection of the financial strength and stability of our company,” said Brian Beggs, Main Street America’s vice president of bonds. “The greater capacity will enhance our ability to meet the surety bond needs of our agent-customers and their customers. Surety bonds complement our property-casualty insurance business to provide individuals and businesses with a full line of protection products.”
MAIN STREETAMERICA’S EXPANDED BOND CAPACITY
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Main Street America’s surety bond offerings include:
- Contract/Construction Surety Bonds—These bonds guarantee a contractor will complete a contract for construction, service or supply of goods.
- Fidelity Bonds and Commercial Crime Bonds—Fidelity bonds provide coverage for employee dishonesty above and beyond the limits of most package products. Commercial crime bonds cover losses due to burglary, robbery and depositor’s forgery.
- Commercial Surety—License or permit bonds are required for contractors operating under a local, state or federal license, and good business practice for many other types of businesses. Court bonds are available for administrators, executors, trustees or guardians, and public official bonds, for tax collectors, justices of the peace, notaries and public officials.
Main Street America has dedicated bonds field staff throughout the 16 states in which it writes business to provide its customers (independent insurance agents) and its customers’ customers (policyholders) with fast and efficient service.
About The Main Street America Group
With roots dating back to 1923, The Main Street America Group is a super regional insurance company that operates four property-casualty insurance carriers: NGM Insurance Company, Old Dominion Insurance Company, Main Street America Assurance Company and MSA Insurance Company. Based in Jacksonville, Fla., Main Street America offers a wide range of commercial and personal insurance products, and fidelity and surety bond products, to individuals, families and businesses.
With approximately $850 million in direct premium written exclusively by more than 1,300 independent insurance agents, Main Street America insures more than 500,000 policyholders along the Eastern Seaboard from Maine to Florida. The company has regional offices in Jacksonville; Keene, N.H.; Richmond, Va.; and Syracuse, N.Y., and a claims reporting center in Auburn, Mass. A.M. Best Company rates The Main Street America Group as an "A" (Excellent). The Main Street America Group is the founding company partner of Trusted Choice®, the global branding program of the Independent Insurance Agents & Brokers of America. For more information about The Main Street America Group, visit
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