ATLANTA, March 2, 2016 /PRNewswire/ -- Allstar Surety, one of the largest U.S. standard and non-standard Managing General Agents (MGA), has partnered with Fair American Insurance and Reinsurance Company (FAIRCO). Allstar Surety will operate as a Program Administrator for FAIRCO with underwriting authority providing agents timely expert service in the surety marketplace. This program will focus on small to medium non-standard and standard contract surety, as well as commercial surety bonds.
"We look forward to a long and successful relationship with FAIRCO," said Jeff Booth Senior Vice President and Chief Underwriting Officer of Allstar Surety. "This partnership will provide Allstar with a dynamic surety program to fully service our existing agents and offer new agents an outstanding surety market."
Paul Clauss, Director of Programs at FAIRCO, commented saying, "FAIRCO's focus from the very beginning has been to partner with the best administrators in the business. Partnering with Allstar Surety provides us the opportunity to work with the best and the brightest people in this unique and specialized niche, allowing us to expand profitably nationwide." FAIRCO is A.M. Best Rated "A" (Excellent) - Financial Size Category XV, and is Treasury Listed to $24,306,000.
Allstar Surety is a division of Allstar Financial Group, an Atlanta based holding company with multiple specialty MGA's across the country. Allstar has eight surety offices nationwide to fully service our agents by providing timely surety solutions.
Fair American Insurance and Reinsurance Company NAIC 35157 (brand name FAIRCO), is a wholly owned subsidiary of Transatlantic Reinsurance Company, itself a subsidiary of Alleghany Corporation (NYSE: Y), is headquartered in New York and is licensed in all U.S. states and DC. Visit www.fairco.com for additional information.
SOURCE Allstar Surety