NATIONAL AMERICAN INSURANCE COMPANY OF CALIFORNIA
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A DIVISION OF
NATIONAL AMERICAN INSURANCE COMPANY OF CALIFORNIA |
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Who is Capstone Surety? Capstone Surety is the surety division of National American Insurance Company of California (NAICC), a wholly owned subsidiary of Covanta Holding Corporation, listed on the New York Stock Exchange (under the ticker symbol CVA). Are you Treasury listed? As a new surety market, we are not yet Treasury listed. In order to provide A rated Treasury listed paper, we have entered into a strategic partnership with American Safety Casualty Insurance Company (ASCIC). ASCIC is A rated by A.M. Best & Company and has a Treasury listing of over $ 7 million. Contract bonds issued by Capstone Surety are written on ASCIC paper. What size programs do you offer? We are a specialty surety serving those accounts which do not qualify for standard market credit. We will entertain programs with single bond limits up to $5 million and aggregate bonded work programs of up to $10 million. What tools do you utilize to enhance the credit worthiness of your accounts? Collateral and funds administration serve as our primary tools to
enhance a contractor’s ability to obtain bonds. We accept many forms
of collateral including trust deeds, Irrevocable Letters of Credit (ILOC’s)
and cash depending on the type of bond and the account’s individual
circumstances. In addition, funds administration is utilized in many
instances to help mitigate risk and assure funds are not misdirected.
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