Revised Bond Forms -
Washington International Insurance Company An A.M. Best A+ (Superior) financially rated company
October 14, 2008 Surety and insurance companies are closely regulated by various state insurance commissions whose regulatory functions involve extensive reporting and audit activities. To deal with regulatory matters in a more standardized and efficient manner, the parent company of Washington International Insurance Company's (WIIC) has changed WIIC's state of incorporation from Arizona to New Hampshire. This re- domicile is strictly an administrative change and has no bearing on operational matters, such as premium rates or underwriting policy.There will be NO continuous bond rollover process required as a result of this change; WIIC bonds currently in effect with CBP do NOT need to be replaced. The New Hampshire state of incorporation only needs to appear on new bonds, executed on or after October 22, 2008. Within the next 24 hours, Roanoke Trade is dispatching to your office a supply of new paper bond forms (reflecting WIIC's updated state of incorporation) based on your historical usage. These forms will be delivered to you not later than October 21, 2008. When your import department receives the forms, here's what they need to do:
If you are already taking advantage of one of Roanoke Trade's automated bond options and are no longer using paper bond forms, you will not be affected by the above change. Please disregard this notice if you do not use WIIC as your surety or have otherwise received this notice in error. To learn more about Roanoke Trade's FastBondTM online or other bond automation options, please contact marketing@roanoketrade.com or your Customer Service Representative. Don't delay in gaining an efficiency advantage for your organization... get automated with Roanoke Trade today!
Roanoke Trade Services, Inc.
A member of Munich Re and the Watkins Syndicate at Lloyd's
email:
marketing@roanoketrade.com
phone:
1-800-ROANOKE
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