Colonial

What Colonial does

Colonial Surety Company is a privately held, Pennsylvania-incorporated insurance carrier founded in 1930 and headquartered in Woodcliff Lake, New Jersey (NAIC #10758). It writes surety bonds, fidelity bonds, and a portfolio of small and medium business (SMB) commercial liability insurance products. The company is rated 'A' (Excellent) by A.M. Best, U.S. Treasury Listed, Department of Labor approved for ERISA fidelity bonds, and licensed and admitted in all 50 U.S. states plus DC, GU, MP, PR, RI, and VI. Operations are organized around three registered brand portfolios — I-Bond® (instant surety bonds covering license & permit, court & fiduciary, notary, lost instrument, public official, bid & performance, and industry-specific bonds), I-Insurance® (professional liability, general liability, business owners policy, cyber liability, EPLI, and fiduciary liability), and The Partnership Account® (a digital channel program serving contractors, attorneys, pension professionals, insurance agents, and associations).

Distribution is direct-to-consumer via a proprietary digital platform that enables instant online quoting, binding, and issuance of bonds and policies 24/7 without an agent or broker, supplemented by The Partnership Account® channel program that grants partner organizations (such as contractors) power of attorney to self-issue bid bonds and order performance and payment bonds through a private dashboard. Revenue is generated on a transaction-fee basis across both surety/fidelity bond sales and insurance product sales, with pricing quote-based and not publicly disclosed. Customers are distributed across SMB contractors, attorneys, pension professionals, plan sponsors, insurance agents, associations, and individual professionals (such as notaries), with no single enterprise anchor disclosed. Recent product launches (Cyber Liability in January 2022, The Notary Package in August 2022, and Commercial GL/BOP in October 2022) and three announced pipeline products (D&O, Commercial Crime, and Workers' Compensation) indicate active product-led expansion, while senior leadership additions in late 2021 (a Chief Insurance Officer and a Chief Technology Officer tasked with building an AI-driven insurance platform) signal organizational investment in scaling technology and SMB distribution.

Name

Colonial

Legal name

Colonial Surety Company

Website

https://colonialsurety.com

Company type

Private

Founded year

1930

Operating status

Operating

Headcount range

11–50 employees

Short description

Colonial Surety Company is a privately held, U.S. Treasury Listed, A-rated surety and fidelity bond writer founded in 1930, serving SMB contractors, attorneys, pension professionals, and associations through a proprietary instant digital platform and partner channel across all 50 states.

Ownership category

akta.pro rank

Product category

Surety and Fidelity Bond Insurance

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210)

SIC

Surety Insurance (6351), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Commercial Surety Bonds (FSAJAIAB)

akta.pro secondary industries

Contract Surety Bonds (FSAJAIAA), License & Permit Bonds (FSAJAIAF), Notary / Bail / Miscellaneous Consumer Bonds (FSAJAIAK), Surety & Bond Brokerage (FSAEADAI)

Keywords

• Surety bonds
• Fidelity bonds
• Business liability insurance
• ERISA fidelity bonds
• Contract surety bonds

Headquarters

HQ city

Woodcliff Lake

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Surety Bond Sales: Revenue generated from issuing surety bonds including license & permit bonds, court & fiduciary bonds, notary bonds, lost instrument bonds, public official bonds, and bid & performance bonds.
2. Fidelity Bond Sales: Revenue from ERISA fidelity bonds, employee dishonesty bonds, janitorial & home service bonds, and service provider bonds.
3. Insurance Products: Revenue from professional liability, general liability, business owners policy, cyber liability, employment practices liability, and fiduciary liability insurance products.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels5 records

Core offering

Colonial Surety Company is a national surety and insurance carrier that underwrites and directly issues surety bonds, fidelity bonds, and small/mid-market business liability insurance through a proprietary digital platform. Its I-Bond® and I-Insurance® portfolios allow customers to quote, purchase, and print bonds and policies online in minutes, while The Partnership Account® program equips contractors, attorneys, pension professionals, insurance agents, and associations with power-of-attorney-enabled digital tools to issue bonds and place coverage for their own clients.

Product overview

Colonial Surety Company operates as a direct seller and writer of surety bonds, fidelity bonds, and insurance products through a multi-product portfolio architecture. The core offerings include the I-Bond® portfolio for instant surety bonds (license & permit, court & fiduciary, notary, lost instrument, public official, bid & performance bonds, and industry-specific bonds) and the I-Insurance® portfolio for instant business liability insurance (professional liability, general liability with bundled cyber, BOP, cyber liability, EPLI, fiduciary liability). The company serves diverse markets through The Partnership Account® digital platform, which provides partners (contractors, attorneys, pension professionals, associations, insurance agents) with tools to issue and manage bonds and insurance online. Additional offerings include the Hometown Bonding Program for contractors new to bonding. The company is expanding its product lineup with upcoming offerings in Directors & Officers Liability, Commercial Crime Liability, and Workers' Compensation Liability.

Differentiator

Problem solved

Functional benefit

Brands

• I-Bond®: Proprietary instant surety bond portfolio providing nationwide access to license and permit bonds, court and fiduciary bonds, ERISA fidelity bonds, and other bonds available for instant digital purchase.
• I-Insurance®
• The Partnership Account®

Products and services

• I-Bond Portfolio Proprietary instant online portfolio of surety bonds that lets individuals, professionals, and businesses nationwide obtain license and permit, court and fiduciary, ERISA, and other bonds online.
• I-Insurance Portfolio Proprietary instant online portfolio of business liability insurance products providing comprehensive protection, with $50,000 in cyber liability coverage bundled with the first purchase of most insurance products.
• The Partnership Account Trademarked digital platform providing contractors, attorneys, pension professionals, associations, and insurance agents with a private dashboard to obtain, issue, and manage bonds and insurance online and earn fees on transactions.
• ERISA Fidelity Bond
• Employee Dishonesty Bond Fidelity bond that protects a business from financial loss caused by dishonest acts committed by employees such as theft, fraud, embezzlement, forgery, or misuse of company funds.
• Janitorial and Home Service Bond Fidelity bond that protects customers if a cleaning or home service worker steals property, commits fraud, or causes certain damages while working in a client's home or business.
• Service Provider Bond Fidelity bond commonly required for third-party administrators, pension professionals, property managers, consultants, and other regulated service providers, including under ERISA requirements.
• License and Permit Bonds Surety bonds required by federal, state, and local government agencies as prerequisites for businesses to legally operate or before a government agency will issue a permit.
• Court and Fiduciary Bonds Court bonds (appeal, supersedeas, injunction/TRO, referee bonds) required to pursue legal remedies, and fiduciary bonds guaranteeing faithful performance of fiduciaries appointed in probate and surrogate courts.
• Notary Bond Surety bond that satisfies state requirements and protects the public; available as a package with Errors and Omissions (E&O) Insurance and complimentary Cyber Liability Insurance.
• Lost Instrument Bond Surety bond required by banks and other entities when owners have lost securities or other issued instruments, guaranteeing indemnification for any loss caused by issuing duplicates.
• Public Official Bond Surety bond required for individuals holding positions of public trust, protecting the public from financial loss caused by the official's failure to perform duties honestly, faithfully, and in accordance with the law.
• Bid and Performance Bonds Contract surety bonds commonly required in construction and service contracts to protect project owners and ensure contracts are completed as agreed.
• Student Transportation Services Bond Surety bonds required for companies providing student transportation (school bus operators, private providers) to ensure compliance with state regulations and licensing requirements.
• Sanitation and Recycling Bond Surety bonds required by states or municipalities for waste collection, hauling, disposal, or recycling companies to ensure compliance with licensing, environmental regulations, and local ordinances.
• Professional Liability Insurance Insurance protection for professionals against claims arising from negligence, errors, or omissions in the services they provide.
• General Liability Insurance Insurance coverage that includes $50,000 in cyber liability insurance, protecting businesses against bodily injury, property damage, and personal injury claims.
• Business Owners Policy (BOP) Comprehensive business insurance package that includes $50,000 in cyber liability insurance, combining property and liability coverage for small and medium businesses.
• Cyber Liability Insurance Insurance coverage protecting businesses against losses from cyber attacks, data breaches, and other cyber incidents.
• Employment Practices Liability Insurance (EPLI) Insurance protection for employers against claims from employees regarding discrimination, harassment, wrongful termination, and other employment-related issues.
• Fiduciary Liability Insurance Insurance coverage for plan sponsors protecting against claims related to fiduciary responsibilities for employee benefit plans.
• Hometown Bonding Program Credit-based underwriting program for contractors new to bonding, providing bid and performance bonds up to $250,000 without requiring financial statements, requiring a minimum credit score of 700 for principals.
• The Notary Package Combined package for notaries and notary loan signing agents pairing a notary bond with $25,000 in Errors and Omissions insurance and $25,000 of cyber liability insurance.

Quantifiable outcome

• Instant access to bonds and insurance - can be obtained in minutes online
• +2 more outcomes

Named customers1 record

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• A.M. Best CompanycoreOthersColonial is rated 'A' Excellent by A.M. Best Company, which provides independent financial strength ratings for insurance companies.
• U.S. Department of the TreasurycoreOthersColonial is Treasury Listed under Circular 570, enabling them to provide surety bonds that meet federal requirements.
• Department of LaborcoreOthersColonial is approved by the Department of Labor to provide ERISA fidelity bonds for employee retirement plans.
• State Insurance Regulatory Bodies (All 50 States)coreOthersLicensed and admitted in all U.S. states and territories, allowing Colonial to provide bonds and insurance nationwide.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Liberty Mutual Insurance: Liberty Mutual is one of the largest U.S. surety writers with substantial contract and commercial surety capacity. It competes with Colonial for the same contractors, attorneys, and commercial accounts, but at vastly greater scale and with a broader P&C portfolio.
• Travelers: Travelers Surety is a leading U.S. surety underwriter covering contract, commercial, and license/permit bonds. It directly competes with Colonial for SMB and mid-market contractor business, with a much larger agent/broker network.
• Hartford Financial Services: The Hartford writes small commercial and bond products through agents nationwide. It overlaps with Colonial's SMB and contractor segments and brings significant brand and broker relationships.
• Chubb: Chubb is a major surety and commercial insurer offering contract and commercial surety bonds. It competes for the same mid-market and institutional contract surety work as Colonial, with substantially larger bonding capacity.
• Zurich Insurance: Zurich North America underwrites contract and commercial surety for construction and infrastructure projects. It is a direct competitor to Colonial in the contractor/bid/performance bond space, with international capacity.
• Markel Corporation: Markel Specialty writes surety and small commercial insurance for niche and professional segments. It overlaps with Colonial in license & permit, court, and specialty surety products through specialty agents.
• CNA Financial: CNA writes small commercial and surety business for SMBs and contractors. It competes with Colonial for professional and small commercial accounts through its agent network.

Direct peers

• Hiscox: Hiscox is a digital-first specialty insurer targeting SMBs and professionals with liability, E&O, and bond products. It competes head-to-head with Colonial's I-Insurance® portfolio and SMB online distribution model.

Emerging players

• NEXT Insurance: NEXT Insurance sells small business liability, workers' comp, and commercial insurance entirely online to SMBs and contractors. It is an emerging digital-native competitor to Colonial's online I-Insurance® offering, focused on the same self-employed and micro-SMB customer.
• CoverWallet: CoverWallet is a digital SMB commercial insurance platform focused on instant quoting and binding for small businesses. It represents the emerging online brokerage model that competes with Colonial's direct-to-consumer digital approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/ColonialSuretyCompany
• LinkedInlinkedin.com/company/colonial-surety-company
• Xx.com/ColonialSurety

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Colonial