American Safety Insurance Services has increased its environmental surety bond limits to $5 million single and $10 million aggregate with no collateral requirements.
American Safety Insurance Services’ (ASI) environmental surety bond unit specializes in performance and payment contract bonds for small to medium size environmental contractors, underwritten by underwriters who focus on the environmental services sector.
Eligible classes of business include asbestos and lead abatement contractors, environmental contractors, engineers and consultants, site remediation contractors, under and above ground storage tank contractors, hazardous waste transporters, demolition contractors, landfill contractors, mold remediation and Brownfield and superfund clean-up.
Bonds are written on American Safety Casualty Insurance paper, which is licensed in all states except New Hampshire, Connecticut and Massachusetts, US.
Larry Howard, director of surety underwriting at ASI, said: A key part of our strategy is to offer our clients increasingly greater capacity while providing a level of underwriting expertise that is unique to our market. The increased bond limits will enhance our ability to meet client needs and expand awareness of American Safety’s bonding capabilities.