Jet Insurance Company Achieves Certification by U.S. Treasury
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Jet Insurance Company Celebrates Key Certification
Jet Insurance Company (‘Jet’), a prominent player in surety bond insurance, is thrilled to announce its recent certification by the U.S. Treasury. This esteemed recognition places Jet on the Circular 570 list of certified surety bond companies, often referred to as the Treasury List or T-list. This certification is not just a badge of honor; it marks a significant step in enabling Jet to offer robust support to federal projects as well as enhancing the overall surety marketplace.
The Importance of the Treasury List
The Treasury List is pivotal for any insurance company looking to issue surety bonds that are mandated by federal agencies. Under the Miller Act, prime contractors engaged in federal jobs exceeding a substantial monetary threshold must secure a performance and payment surety bond. Without the necessary accreditation from the Treasury List, companies like Jet would be unable to provide the essential bonds that protect the interests of federal agencies. Jet’s inclusion on this list stands to further empower various contractors, spanning multiple sectors from infrastructure to healthcare.
Expanding Market Capacity
Jet’s inclusion on the Treasury List is hailed as a much-needed boost to the surety bond market. Over recent years, many traditional carriers have retreated from this space, making Jet’s entry all the more critical. In response to this market gap, Jet’s proprietary advanced underwriting program ensures a sustainable approach to issues like the Freight Broker bond, ensuring that the company stands ready to support businesses facing significant bonding requirements.
Leadership Insights
Spencer Siino, Jet's CEO, expressed his excitement regarding this development, stating that the journey to certification has become increasingly rigorous over the decades. “I’m not aware of any independent surety companies like Jet who have been added to the Treasury List in recent years,” he noted, highlighting the distinct position Jet occupies in a competitive industry.
Innovative Offerings for Small Businesses
Jet has not only made strides in compliance but also aims to leverage its technological innovations and efficient processes to assist thousands of small businesses. Their participation in the SBA’s Surety Bond Guarantee Program amplifies their commitment to providing valuable services to emerging enterprises.
About Jet Insurance Company
Operating from Charlotte, North Carolina, Jet Insurance Company stands out as the only direct-to-principal surety and fidelity carrier in the industry. Their mission centers on extending surety credit to qualified applicants while maintaining market-leading rates, achieved through cutting-edge automation and refined underwriting practices. To discover more about Jet and its offerings, you may visit their official website.
Contact Information
If you have any inquiries, you can reach Jet Insurance Company at 855-296-2663 or contact them via email at [email protected].
Frequently Asked Questions
What is the significance of Jet being on the U.S. Treasury's T-list?
Being on the T-list allows Jet to issue surety bonds required by federal agencies, significantly enhancing their service offerings.
How will this certification benefit federal contractors?
This certification ensures that contractors can obtain essential bonds, promoting smoother operations on federal projects.
What is Jet Insurance Company's mission?
Jet aims to provide surety credit at the most competitive rates through advanced technology and streamlined processes.
How long has Jet Insurance been operational?
Jet Insurance Company launched in late 2018 and has since expanded its licensing across all U.S. states and D.C.
Where can I find more information about Jet Insurance?
More information about Jet Insurance can be found on their official website, where they share details about their offerings and initiatives.
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