What Contractors Bonding Insurance Co. does

Contractors Bonding & Insurance Company (CBIC) is a Seattle-based insurance carrier founded in 1979 and operating as a wholly-owned subsidiary of RLI Corp. (NYSE: RLI), a publicly traded specialty insurance holding company. CBIC underwrites admitted construction contractor insurance and surety bond products, with its core offering branded as Contrac Pac, which is split into two programs: QuickWrite for small to medium-sized contractors (general contractors with gross receipts of $4 million or less and artisan contractors with gross receipts of $3 million or less) and Package for larger contractors (general contractors above $4 million and artisan contractors above $3 million) submitted via traditional ACORD applications.

CBIC distributes its products exclusively through appointed retail and wholesale insurance agents and brokers, with no direct-to-consumer or digital-native purchasing channel. Coverage is not available in New York or Colorado. The company generates revenue through recurring insurance premium collection from contractors across residential and commercial projects, with pricing conducted on a quote-based model that varies by contractor size, classification, and project type. CBIC is rated A++ (Superior) by AM Best for financial strength, with the Long-Term Issuer Credit Rating upgraded to aa+ in February 2026, and operates within RLI Corp.'s broader specialty insurance portfolio that includes surety bonds, commercial casualty, marine, and transportation lines. CBIC does not have disclosed AI/ML capabilities, mobile applications, or proprietary technology platforms beyond the parent RLI agent/broker portal.

Name

Contractors Bonding Insurance Co.

Legal name

Contractors Bonding & Insurance Company

Website

https://cbic.com

Company type

Private

Founded year

1979

Operating status

Operating

Short description

Contractors Bonding & Insurance Company (CBIC), a wholly-owned subsidiary of RLI Corp., underwrites admitted construction contractor insurance and surety bonds for general and artisan contractors through Contrac Pac products distributed via retail and wholesale agents.

Ownership category

akta.pro rank

Product category

Construction Insurance

akta.pro primary industry

Contractors BOP / Artisan Package (FSAJAFAD)

akta.pro secondary industry

Construction Specialty (Wrap-Ups/Builders Risk/Contractors) (FSAJAGAH)

Keywords

• Surety bonds
• Contractor liability insurance
• Construction insurance
• Property casualty insurance
• Admitted insurance programs

Headquarters

HQ city

Seattle

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premiums: CBIC generates revenue through insurance premium collection from contractors. Contrac Pac policies are admitted construction contractor products providing coverage for contractors of various sizes and classifications, including general contractors and artisan contractors for both residential and commercial projects.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Contractors Bonding Insurance Co. (CBIC) underwrites admitted construction contractor insurance products under RLI's Contrac Pac brand. It offers two core programs: Contrac Pac QuickWrite for small to medium-sized contractors (general contractors up to $4 million gross receipts, artisan contractors up to $3 million gross receipts) and Contrac Pac Package for larger contractors submitted via traditional ACORD applications. The company also supports RLI's surety bond offerings for contractors.

Product overview

RLI's specialty insurance portfolio is organized into multiple product categories spanning commercial casualty, commercial property, construction, executive risk, inland marine, ocean marine, personal lines, professional services, transportation, and surety bonds. The core construction contractor products are branded under the Contrac Pac® umbrella, which includes two distinct admitted programs: QuickWrite™ for small to medium-sized contractors (general contractors up to $4 million gross receipts, artisan contractors up to $3 million), and Package for larger contractors (general contractors over $4 million, artisan contractors over $3 million). Some Contrac Pac policies are underwritten by Contractors Bonding & Insurance Company (CBIC), an RLI subsidiary. The portfolio is distributed through both retail and wholesale channels and is rated A++ (Superior) by AM Best.

Differentiator

Problem solved

Functional benefit

Products and services

• Contrac Pac: QuickWrite

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves4 records

Expansion highlights4 records

Broad incumbents

• Travelers Companies: Travelers is one of the largest U.S. writers of construction contractor insurance through its Construction unit, offering package policies, general liability, and surety for general and artisan contractors. Comparable to CBIC as a multi-line carrier competing for the same contractor accounts, though with a much broader product portfolio and national footprint.
• Liberty Mutual Insurance: Liberty Mutual operates a national construction insurance practice offering contractor package policies, general liability, builders risk, and surety bonds to general and artisan contractors. Directly comparable to CBIC's Contrac Pac offerings, but with broader commercial lines and larger scale.
• The Hartford: The Hartford writes small commercial and contractor package policies serving artisan and general contractors through independent agents. Comparable distribution model (agent/broker channel) and admitted contractor BOP product similar to Contrac Pac QuickWrite.
• CNA Financial: CNA provides specialty construction contractor insurance including commercial package policies, contractor liability, and surety via agent/broker distribution. Directly competes with CBIC in the admitted contractor package segment, with stronger international reach.
• Chubb Limited: Chubb writes construction contractor insurance including package policies, general liability, and excess for both artisan and general contractors through agents and brokers. Comparable customer base and product scope, though typically positioned at higher-end contractor accounts.
• Zurich Insurance Group: Zurich North America operates a dedicated construction practice offering contractor package policies, builders risk, and surety for general contractors and trade contractors. Comparable to CBIC's Contrac Pac Package product, with a stronger mid-to-large contractor focus.
• Berkshire Hathaway Specialty Insurance: Berkshire Hathaway Specialty Insurance offers contractors' liability, builders risk, and surety for construction risks through wholesale and retail brokers. Comparable to CBIC in construction-focused underwriting, though backed by a vastly larger balance sheet.

Direct peers

• Markel Group: Markel is a specialty insurer with a strong construction and contractor practice, including admitted package policies and surety for artisan and general contractors. Closest peer to CBIC in terms of specialty focus, admitted contractor BOP product, and broker-driven distribution.
• Westfield Insurance: Westfield is a mutual specialty insurer with a strong contractor package product (Contractors Choice) for artisan and general contractors distributed through independent agents. Closely comparable to CBIC in admitted contractor BOP positioning and agent/broker go-to-market.
• EMC Insurance Companies: EMC writes commercial package and contractor insurance for small-to-mid sized contractors through independent agents, with a product set similar to Contrac Pac QuickWrite. Comparable mid-market contractor focus and admitted carrier model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks4 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@RLI.Insurance
• LinkedInlinkedin.com/company/contractors-bonding-and-insurance-company
• Instagraminstagram.com/rli.insurance

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

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 Contractors Bonding Insurance Co.