International Fidelity Insurance Company (IFIC) is a leading provider of surety and fidelity insurance products for both construction and non-construction companies and individuals. With a rich history dating back to its founding in 1904 by the Singer Sewing Company, IFIC has become a trusted name in the insurance industry, offering comprehensive coverage and excellent customer service.
Surety Bond – Business Insurance
IFIC takes pride in being one of the largest domestic surety carriers, offering surety products to a wide range of clients. Whether you are involved in construction or non-construction businesses, IFIC has the expertise and experience to meet your surety bond needs. By providing financial guarantees to ensure contract completion, IFIC helps businesses build trust and confidence in their operations.
Captive Fidelity Coverage for International Subsidiaries
In its early years, IFIC specialized in providing captive fidelity coverage for its international subsidiaries. This unique approach allowed IFIC to ensure the financial well-being of its global operations, providing a solid foundation for the company’s continued success. Over the years, IFIC has expanded its product offerings to cater to a broader clientele.
Net Income and Underwriting Profits
IFIC’s commitment to fiscal responsibility is evident in its consistent net income and underwriting profits over the last several years. With over $242 million in net admitted assets, including $216 million in cash and other invested assets, IFIC stands strong in its financial stability. This financial strength allows IFIC to provide reliable coverage and fulfill its obligations to policyholders.
Surety Insurance in All 50 US States and Beyond
IFIC Surety, a division of IFIC, doesn’t shy away from taking on challenging projects. With coverage available in all 50 US states, Washington, DC, and Puerto Rico, IFIC Surety has established itself as a reliable partner for contractors and businesses across the nation. IFIC Surety writes five lines of surety, including contract, commercial, bail, customs, and subdivision, ensuring comprehensive protection for a wide range of needs.
Membership in IAT Insurance Group
As a member of the IAT Insurance Group, IFIC is part of a larger network of insurance companies committed to providing exceptional service and coverage. This membership further solidifies IFIC’s position as a trusted and reliable insurance provider. With a team of experienced professionals and a focus on customer satisfaction, IFIC continues to deliver excellence in the insurance industry.
In conclusion, International Fidelity Insurance Company (IFIC) is a powerhouse in the insurance industry, providing robust and comprehensive insurance solutions to individuals and businesses. From its inception in 1904 to its current position as one of the largest surety carriers in the United States, IFIC has maintained a strong commitment to financial stability and customer satisfaction. Among the recommended products, the best choice is IFIC Surety, which offers a wide range of surety products and has a strong track record in the industry. You can find IFIC Surety on Amazon here. With IFIC, you can have peace of mind knowing that your insurance needs are in the hands of experts.
Maxwell Underwood, a seasoned insurance expert with over 20 years in the field, has dedicated his career to sculpting robust and sensible insurance solutions for individuals and businesses alike. Educated in Finance at the University of Chicago, he combines academic prowess with practical experience, navigating through diverse insurance products and regulatory environments. Maxwell prioritizes a client-centric approach, crafting policies that balance comprehensive coverage with economic feasibility. A respected voice in the industry, he contributes to insurance journals and speaks at forums, sharing insights drawn from his rich professional journey. His philosophy intertwines sound financial planning and thorough protection, ensuring clients’ serenity and financial stability amidst life’s uncertainties.