|By PR Newswire||
|August 28, 2014 05:23 PM EDT||
BROOKFIELD, Wis., Aug. 28, 2014 /PRNewswire-iReach/ -- Old Republic Surety Company (ORSC) is pleased to announce the addition of Mr. Jerry Park as Assistant Bond Manager for their Los Angeles, California contract bond office. Park will be responsible for the marketing and underwriting of contract surety bonds for the state of California. As well, Park will be instrumental in cultivating the strong relationships with ORSC's large agency network in California, and strengthening the relationships ORSC has with California contractors.
Park comes to ORSC with more than 36 years of underwriting experience – most recently with Capitol Insurance Companies as a Senior Contract Surety Underwriter. Park also spent 7 years as an Assistant Vice President of Surety for Arch Insurance Group in Pasadena, California.
"Jerry has significant experience in California's contract surety marketplace", states Joel Vandendriessche, Vice President of Underwriting for Old Republic Surety Company. "The addition of Jerry, as well as the fact that we have a significant increase in bond capacity threshold, will enable us to continue to grow in California's surety market". Earlier this year, Old Republic Surety Company increased their contract bond limit to $50MM, which is expected to be a catalyst for continued growth in all markets. Contract bonds guaranty the performance and fulfillment of all undertakings promised in a contract.
Park holds a Bachelor of Arts degree from Loyola University (now Loyola Marymount University), Los Angeles, California, as well as a Master's degree in Organizational Management from the University of Phoenix, Van Nuys, California. Park is also a 2013 recipient of the SIO Gold Award for Excellence in Surety Bond Promotion.
Old Republic Surety Company headquartered in Brookfield, Wisconsin, ranks among the nation's top underwriters of contractors' performance and payment bonds, miscellaneous surety, and commercial fidelity, offering more than 500 types of bonds. Approximately 3,800 independent insurance agencies market these financial indemnity products throughout the United States. Old Republic Surety Company is a subsidiary of Old Republic International Corporation, one of America's 50 largest shareholder-owned insurance businesses, which is traded on the New York Stock Exchange (ORI).
Media Contact: Patrick D. Kuehl, Old Republic Surety Company, 800-217-1792, [email protected]
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SOURCE Old Republic Surety Company
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