Latest Marketing Strategy

In the coming years, Newport Insurance Company will be aggressively marketing its Contractors Bond Programs.  In order to facilitate the expected influx of work, the United States is being divided into three areas, Eastern, Middle, and Western, to allow the producers to more carefully evaluate each bond on a case by case basis.  The senior evaluator in each area will have “authority” for single contracts less than than 5 million.  We have reached agreements with the reinsurers that will make the issuance of term sheets possible in 24 hours.

Cash collateral will be held for a minimum of 90 days after completion and the notes will be released as requested.  If the oblige does not have a satisfactory funds control in place we will use the Caipel Associates Program for an additional charge of ½ to 1 percent.  We hope to keep the principal involved with the funds control process so that the program can be gradually phased out of Caipel Associates.

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