Founded in 1987, The Service Insurance Company, Inc. (NAIC #28240, AM Best #10631) is a privately-owned New Jersey-domiciled insurance company specializing in underwriting contract, commercial, and court surety business.
We have built our reputation on providing superior, customized surety solutions to businesses, contractors, service providers and individuals based on each client’s unique needs.
A.M. Best has awarded Service a financial strength rating of A- (Excellent). Because of Service’s management structure and philosophy of providing superior customized surety solutions while maintaining tight controls in the underwriting and financial processes, we have outperformed our peers on most of the financial metrics established by A.M. Best. In affirming Service’s rating, A.M. Best lauded Service, reporting that its financial strength rating reflects Service’s “excellent risk-adjusted capitalization, operating profitability and liquidity.”
Treasury Listed and Approved
The Service Insurance Company holds a certificate of authority with the United States Department of the Treasury and is approved to write performance and payment bonds for federal projects.
Why Choose The Service Insurance Company?
Service s Exceptional Customer Service
For the past twenty-five years, Service has been dedicated to providing customized surety solutions and exceptional customer service to small, mid-sized, and emerging businesses.
Because we are privately owned and operated, our clients have direct access to the decision makers, who can respond to surety bond requests immediately, without the bureaucracy and multiple approval authorities required by most large surety companies. We also have a thorough understanding of the nuances of the region, and are committed to making the often less-than ½ day drive to visit our clients. Service often considers more than just financial statements when making underwriting decisions.
Our Underwriting Philosophy
Service’s philosophy of flexibility and responsiveness has led to long-term relationships with our clients. As a result, we continue to “grow with our clients” allowing larger bonding lines beyond the initial bonding request!
Small Business Administration (SBA) Approved
The Service Insurance Company is a Participating Surety Company with the Small Business Administration.
NY Rising (Federal Funds for Sandy Relief) and Empire State Bond Assistance Program (NY State Program for small emerging contractors)
The Service Insurance Company is approved to write bonds in connection with the New York Rising Housing Recovery Program and for the New York State small contractor bond assistance program for emerging contractors on NY State projects.