Surety Success
Increased Capacity, Increased Growth
In pursuit of excellence, increasing the surety limit for bonds from $20 million single/$40 million aggregate to $30 million single/$60 million aggregate represents a strategic move to enhance our program capacity and accommodate future growth. This adjustment widens the scope for bonding capabilities and instills confidence among our agents and policyholders. Larger bonds and programs can be considered on a case-by-case basis.
“Our new program limits have fostered more confidence in our comfort level with larger jobs,” said Jake Morphew, Surety Territory Manager, Southwest Region. “With our expanded limits, we can ensure our commitment to keeping larger and growing accounts. This approach to gradually increasing our limits over the years has given our clients great assurance in our willingness to grow with them.”
Jake explained that one agency would not have previously considered FCCI Surety due to lower program limits but now believes that it’s a good fit.
Market Strategic Growth of Agents and Teammates
Scott Paice, SVP, Surety, explained that he has hired experienced individuals for the new territories for a reason.
“They know the area, the appetite and who the right agents are. They know who to avoid,” said Scott. “So that's part of the foundation. Getting the right teammates and the right agents.”
In the last half of 2023, FCCI’s Surety team has experienced strategic growth in the New England region and out West. A key milestone has been appointing several dedicated agents across 15 new states, solidifying the commitment to serving the diverse market. This growth has resulted in FCCI successfully writing premium business in a total of 34 states and growing. This demand for service reflects the confidence that clients have in FCCI.
The appointment of these skilled agents also speaks volumes about their dedication to providing personalized and localized service.
Looking ahead, FCCI’s Surety team is poised for sustained growth and further expansion in untapped markets, focusing on innovative solutions. This growth is just the beginning. To establish a strong foundation, focusing on several key pillars is imperative. The first is investing in a talented and dedicated team with expertise in Surety, risk assessment and client relationship management. This commitment to excellence will be the backbone of operations.
“It's strategic hiring of underwriting talent to handle the new states and then the strategic appointment of quality agents,” said Scott. “We’ve appointed 25 new agents just this year.”
Forging solid partnerships will provide the foundation and stability for steady growth.
The FCCI Surety Team
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