What applied surety underwriters does

Applied Surety Underwriters is a US-based surety bond underwriter launched in 2022 as a subsidiary of Applied Underwriters, Inc., headquartered in Spring, Texas. The company underwrites contract and commercial surety bonds — including bid, payment, and performance bonds for contractors, plus miscellaneous and license/permit bonds for state regulatory compliance — for public and private companies, nonprofits, and municipalities. Its stated focus is on heavy industry, energy, construction, and complex commercial projects, including environmental restoration and natural-resource extraction contexts where bond structures require technical evaluation beyond a standard financial review.

The company's underwriting process is differentiated by an in-person discovery model that layers engineering expertise onto traditional underwriting, with the stated intent of better matching bond structures to the technical risk profile of each project. Pricing is quote-based and risk-assessed, with single-bond capacity of $250M and aggregate program capacity of $250M (up to $300M for qualifying clients), backed by admitted-carrier paper from North American Casualty Co. (A-), Siriuspoint America (A-), Argonaut Insurance (A-), and Star Insurance (A), all rated by AM Best. Distribution is exclusively through a curated network of independent surety agents and producers rather than direct sales, with regulatory licensing administered through United Risk Insurance Agency LLC (California License 0K57443).

Revenue is generated through premiums on underwritten bonds, with multi-year contract structures on larger engagements. The company does not disclose revenue, headcount, or premium volume. Its leadership is concentrated in President & Founder Josh Betz, who joined in March 2022 from Argo Surety where he spent 14 years building one of the top 10 surety operations globally; he holds prior leadership experience at Travelers, CNA, and Reliance Surety. Applied Surety Underwriters operates only in the United States, with no disclosed international footprint or venture capital/private equity investment.

Name

applied surety underwriters

Legal name

Applied Underwriters, Inc.

Website

https://appliedsurety.com

Company type

Private

Founded year

2022

Operating status

Operating

Short description

Applied Surety Underwriters underwrites contract and commercial surety bonds (bid, payment, performance, miscellaneous, and license/permit) for contractors, heavy industry, energy firms, and municipalities across the United States, distributing exclusively through a curated network of elite independent surety agents.

Ownership category

akta.pro rank

Product category

Surety Bond Underwriting

NAICS

Insurance Carriers and Related Activities (524)

SIC

Surety Insurance (6351)

akta.pro primary industry

Contract Surety Bonds (FSAJAIAA)

akta.pro secondary industries

Commercial Surety Bonds (FSAJAIAB), License & Permit Bonds (FSAJAIAF)

Keywords

• Surety bond underwriting
• Contract surety bonds
• Commercial surety bonds
• Performance bond underwriting
• License and permit bonds

Headquarters

HQ city

Spring

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Surety Bond Underwriting: Applied Surety Underwriters provides surety bond programs including contract bonds, miscellaneous bonds, and license/permit bonds. Revenue is generated through premiums collected on bonds underwritten for contractors, service providers, and businesses requiring surety protection.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Applied Surety Underwriters underwrites contract and commercial surety bonds for businesses, contractors, nonprofits, and municipalities. Its Contract Bond Program covers bid, payment, and performance bonds for construction and service contractors, while its Commercial Bond Program covers miscellaneous bonds for complex financial transactions and license and permit bonds required for state regulatory compliance. Bond programs are distributed exclusively through an elite network of independent surety agents and producers.

Product overview

Applied Surety Underwriters offers a portfolio of surety bond products structured around two main programs: Contract Bond Programs and Commercial Bond Programs. Contract Bonds include Bid Bonds, Payment Bonds, and Performance Bonds for construction and service contractors. Commercial Bond Programs encompass Miscellaneous Bonds for complex financial transactions and License and Permit Bonds for state regulatory compliance. The company also offers aggregate bond programs up to $250M single bond capacity, expandable to $300M for qualifying clients. The core differentiator is a consultative, engineering-focused approach to risk assessment that goes beyond superficial assessments to provide intelligent surety solutions matched to project-specific requirements.

Differentiator

Problem solved

Functional benefit

Products and services

• Contract Bonds

Quantifiable outcome

• Better matching of surety solutions to projects through thorough technical understanding

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• United Risk Insurance Agency LLCcoreChannel Partner/ Reseller/ DistributorApplied Surety Underwriters offers bonds through admitted carriers via United Risk Insurance Agency LLC. United Risk provides the licensed insurance capacity and regulatory framework for bond issuance across most states. California License Number 0K57443.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Liberty Mutual Surety: One of the largest US surety writers with broad contract and commercial surety capabilities across construction and commercial verticals. Comparable to Applied Surety in offering both contract and commercial bonds, though as a much larger incumbent with nationwide direct and agent distribution.
• Travelers Surety: Major US surety carrier offering contract and commercial surety products through agents. Overlaps with Applied Surety on bid, payment, and performance bonds as well as miscellaneous commercial bonds; Josh Betz held prior leadership roles here, indicating direct market familiarity.
• CNA Surety: Large surety division offering contract and commercial surety bonds nationwide through independent agents. Directly comparable product set (bid, performance, payment, license and permit, miscellaneous) and similar agent-distribution model; Betz also previously held leadership at CNA.
• Zurich North America Surety: Global insurer with a substantial US surety practice covering contract and commercial bonds. Comparable in product breadth and target contractors, though Zurich serves a broader set of industries and is materially larger.
• The Hartford Surety: Established surety writer offering contract, commercial, and court bonds through agents and brokers. Comparable distribution approach and product mix to Applied Surety, with stronger brand recognition but less specialization in heavy-industry/energy risk.
• Crump Life Insurance Services (Surety division): Large insurance distribution and bond producer with substantial surety placement capabilities across contract and commercial bonds. Comparable agent-driven distribution model; serves as both competitor and potential channel partner for Applied Surety.

Direct peers

• Argo Surety: Betz previously served as President here for 14 years, building it into a top-10 surety operation. Direct head-to-head competitor in contract and commercial surety, especially for complex and large-bond-size risks; a natural reference point for Applied Surety's positioning.
• RLI Surety: Specialty surety writer focusing on niche and non-standard commercial and contract surety risks. Similar underwriting philosophy of accepting complex risks that standard sureties decline; comparable size and target market to Applied Surety.
• International Fidelity Insurance Company (IFIC): Specialty surety carrier with strong focus on license, permit, and miscellaneous commercial bonds, plus contract surety. Closely comparable to Applied Surety in commercial surety mix and in targeting smaller-to-mid commercial risks often underserved by mainstream sureties.

Emerging players

• SuretyBonds.com: Digital-first surety broker that streamlines issuance of standard commercial and license/permit bonds online. Comparable in commercial and license/permit bond offerings but competes via direct/online distribution rather than Applied Surety's elite-agent, complex-bond focus.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 applied surety underwriters