Background

The Bureau of the Fiscal Service is responsible for administering the surety bond program for the federal government under 31 U.S.C. 9304-9308. Companies who wish to directly write federal bonds or reinsure federal bonds- or be recognized as an Admitted Reinsurer for the companies writing or reinsuring federal bonds- must make an application to Fiscal Service to be certified.

Companies' applications are reviewed thoroughly to ensure that financially sound companies receive Treasury recognition. It's the responsibility of the Fiscal Service to continually review and monitor the financial status of companies to be approved in all the categories listed above. Companies who write or reinsure federal bonds are published in the Circular 570 list of acceptable surety companies every July 1, in the Federal Register.

Companies who are admitted reinsurers are not published in the Federal Register since they cannot directly write a federal bond or reinsure an excess risk for a direct writer. Instead, the Fiscal Service publishes a separate list of Admitted Reinsurers (including Pools and Associations or Lloyds' of London Syndicates) every September 30th.