Developers Surety and Indemnity Company (California) leads in offering surety bonds and liability insurance to construction contractors, land developers, and housing developers in California.
They’ve built a solid reputation for delivering dependable and cost-effective coverage over the years.
Developers Surety and Indemnity Company (California)
Developers Surety and Indemnity Company (California) specializes in surety bonds and liability insurance for construction contractors and land developers.
It’s a member of the AmTrust Financial Services, Inc. group of companies and boasts an A- (Excellent) financial strength rating from AM Best.
They offer various surety bonds like contract, bid, performance, payment, and maintenance bonds.
Additionally, the company provides contractors liability insurance, various property and casualty insurance, and licenses and permit bonds.
Licensed to work in all 50 states and the District of Columbia, their headquarters is situated in Irvine, California.
Contact Information
Mailing Address:
PO Box 19725
Irvine, CA 92623-9725
Phone Number: (949) 263-3300
Fax Number: (949) 252-1959
Email Address: https://www.dandb.com/businessdirectory/developerssuretyandindemnitycompany-irvine-ca-15329270.html
Website: https://interactive.web.insurance.ca.gov/companyprofile/companyprofile?event=companyProfile&doFunction=getCompanyProfile&eid=100170
Products and Services
Developers Surety and Indemnity Company (California) provides a wide array of services and products, such as:
- Contract Bonds
- Bid Bonds
- Performance Bonds
- Payment Bonds
- Maintenance Bonds
- License and Permit Bonds
- Subdivision Bonds
- Court Bonds
- Miscellaneous Bonds
Liability Insurance
- Contractors Liability Insurance
- Commercial General Liability Insurance
- Professional Liability Insurance
- Excess Liability Insurance
- Workers’ Compensation Insurance
Property and Casualty Insurance
- Commercial Property Insurance
- Business Interruption Insurance
- Inland Marine Insurance
- Equipment Insurance
- Automotive Insurance
Other Services
- Risk Management Consulting
- Bond Underwriting
- Claims Management
Financial Snapshot
Developers Surety and Indemnity Company (California) maintains a robust financial status.
AM Best assigns it an A- (Excellent) financial strength rating, which stands among the highest ratings they can give.
As of December 31, 2022, the financial snapshot of Developers Surety and Indemnity Company (California) reveals:
- Total assets: $1.2 billion
- Total liabilities: $800 million
- Net worth: $400 million
- Capital adequacy ratio: 33%
The company’s capital adequacy ratio substantially exceeds the required minimum of 20%.
This signifies the company possesses a substantial safety net to absorb losses and maintain its financial stability.
The company maintains a sound balance sheet and robust capital position.
This financial strength empowers the company to expand its operations and deliver the necessary coverage to its customers.
Furthermore, the company’s financial stability receives reinforcement from its affiliation with the AmTrust Financial Services, Inc. group of companies, which is a sizable and well-capitalized insurance holding company.
Claims, Cancellations and Renewals
If you have a claim with Developers Surety, you can report it online or by calling the company’s claims department at (949) 263-3300.
The company’s claims department is available 24 hours a day, 7 days a week.
Once you report your claim, a claims adjuster will be assigned to your case. They’ll investigate your claim and work with you to resolve it as quickly and fairly as possible.
Reasons for Developers Surety and Indemnity Company (California) to cancel policies
- Non-payment of premium
- Providing false information on your application
- Violation of your policy’s terms
If your policy is canceled, you’ll receive written notice at least 10 days in advance. You’ll also get a refund of any unearned premium.
Renewals with Developers Surety
You’ll receive a renewal notice from Developers Surety and Indemnity Company (California) 30-60 days before your policy ends.
This notice will include the new premium rate and the terms and conditions of the renewed policy.
If you don’t renew your policy by the expiration date, it will lapse. You might be able to reinstate it, but you’ll likely need to pay a reinstatement fee.
Customer Reviews
Customer reviews for Developers Surety present a mixed picture. Some customers appreciate the company’s speedy and effective claims processing.
However, others express dissatisfaction due to issues with customer service and elevated rates.
Benefits of choosing Developers Surety and Indemnity Company (California)
- Strong Financial Strength: The company holds an A- (Excellent) financial strength rating from AM Best, ensuring financial stability and the ability to meet claims.
- Wide Range of Products and Services: They provide an extensive selection of surety bonds and other liability insurance products, catering to the needs of construction contractors and land and housing developers in California.
- Competitive Rates: You can expect competitive rates on surety bonds and other liability insurance products.
- Quick and Efficient Claims Handling: The company is known for its prompt and efficient claims processing, giving you peace of mind.
- Responsive customer service: Count on their experienced and knowledgeable customer service team to assist with your questions and concerns. They’re readily available to help you.
Key Facts about DSIC
- Established in 1999
- Headquartered in Irvine, California
- Licensed to operate in all 50 states and the District of Columbia
- AM Best financial strength rating of A- (Excellent)
- Part of the AmTrust Financial Services, Inc. group of companies
- Specializes in surety bonds and liability insurance for construction contractors and land developers.
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