RECLAMATION BOND
PROGRAM
Carrier: First
Indemnity of America Insurance Company ( FIA ) .
Based in New Jersey and licensed in 7 states.
State of Initial
Operation: Pennsylvania. Additional
states after the first 6 months of operations.
Underwriting Requirements:
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A. Corporate Financials
&ndash 3 years if possible
B. Personal Financials
C. Bond Questionnaire
D. Engineering site visit
E. Reserve information
F. Coal sales information |
Terms & Conditions:
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A. Personal indemnity
B. Corporate indemnity
C. 40% collateral minimum &ndash held
by FIA
D. Premium around 3%
E. Collateral trust agreement completed
F. Premium agreement completed
G. Engineering / underwriting fees based
upon number of sites to visit |
Turnaround Time: 30
days from initial application in most cases.
The program is available in all 50 states with
the exception of Assisted Living. Assisted Living
is not available in Florida. All other
classes/product are available in Florida.
Assisted Living is also restricted in some
additional locations across the U.S..
"Classes Eligible," please
review the attached list
(PDF Format). The list is not complete but
illustrates many of the classes. Please call or email if
you have a question about the acceptability of
your risk.
Most risks will require additional information
beyond an Acord. Specific Supplements are
available on the "Applications"
page. Please call if you cannot find a specific
supplement for your risk.
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