Liberty Mutual Surety Launches New Contract Product Line

BOSTON, Massachusetts, Jan. 15 -- Liberty Mutual Insurance Group issued the following news release:

Liberty Mutual Surety has launched Liberty Mutual Surety Plus, a new product line dedicated to contract transactional and small- to mid-sized surety business.

Through independent agents, Surety Plus serves contractors that need standard bond programs up to $25 million, transactional bonds up to $3 million, subdivision bonds, and bonds that need special risk underwriting, including collateral, funds administration or Small Business Administration support.

"Surety Plus fills a gap in the surety industry," said Liberty Mutual Surety Senior Vice President, Surety Plus Sam Zaza. "While many carriers provide one or two of these products, few sureties have field and home office underwriters that specialize in an appetite this broad. Surety Plus rounds out Liberty Mutual's contract bond offering. Contractors have peace of mind knowing that if they grow or if they go through a rough period, they don't have to start over with a new surety since Liberty has products and services to help them succeed."

The creation of Surety Plus comes several months after Liberty Mutual acquired AmTrust Insurance's U.S. surety operations (Insco Dico), a company that specialized in this business.