New York Marine and General Insurance Company (Coaction) is entering the surety space with a new Contract and Commercial Surety Program, effective August 1, 2025. The filing introduces a full set of rates and rules for various bond types—ranging from contract and bid bonds to license, permit, and fidelity bonds—without any prior internal loss data.

Rates are tiered by underwriting criteria like contractor financials and project type. Higher rates apply to substandard risks (e.g., poor credit, bankruptcy, limited indemnity), and additional charges kick in for long-term or design-involved projects. The structure is modeled after Accelerant National’s rating plan, with merit and schedule rating adjustments for select risks.