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Opening of Bids - North Shore Drive Bank Stabilization Proj No. 118-005A - The Stanger Group, Inc.
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Opening of Bids - North Shore Drive Bank Stabilization Proj No. 118-005A - The Stanger Group, Inc.
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12/8/2020 4:11:56 PM
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Board of Public Works
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Projects
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12/8/2020
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DEPARTMENT OF THE TREASURY <br />0 BUREAU OF THE FISCAL SERVICE <br />WASHINGTON, DC 20227 <br />Edward J. Largent III, President <br />Westfield Insurance Company <br />P. O. Box 5001 <br />Westfield Center, 011 44251 - 5001 <br />Dear Edward J. Largent IT: <br />Your Company's Certificate of Authority to qualify as an acceptable surety and/or reinsurer on Federal <br />bonds is hereby renewed and will remain in effect until June 30, 2021, unless revoked prior to that date. <br />On the basis of our review of the Company's Annual Financial Statement as of the close of the last calendar <br />year, the following underwriting limitation has been established, effective July 1, 2020, under the renewed <br />Certificate: <br />POLICYHOLDERS' SURPLUS at December 31, 2019.... $1,284,679,718 <br />UNDERWRITING LIMITATION ............................. $128,468,000 <br />We are following the practice of making no deductions from policyholders' surplus reported where the <br />amount of adjustment (e.g., for unauthorized reinsurance, inadequate loss reserves, etc.) would have a <br />nominal effect on the surplus and where it has been determined that the Company is solvent per Treasury's <br />guidelines. This practice facilitates the review work and should not be interpreted as changing or nullifying <br />applicable Treasury requirements. <br />The list of approved sureties (Circular 570) is available on our website at <br />hugs:/'www I!SCtd II'C'Kl1'y.90ohurety-bi id}'list-certili •d -c mlpani r html. Please disseminate this <br />information to your associates, agents, reinsurers and even Government agencies whenever possible. <br />If you wish to comment on the underwriting limitation established, please contact Linda Gobble at (304) <br />480-5629, immediately. <br />Sincerely, <br />Melvin Saunders <br />Manager <br />Surety Bond Branch <br />SURETY BOND BRANCII <br />200 THIRD STREET- RM. 1010 <br />PARRERSBURG, WV 26101 <br />
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