NU Online News Service, Feb. 23, 3:38 p.m. EST
Trade groups that represent surety insurers are calling the failure of a Pennsylvania-based surety insurer "highly unusual," and maintaining that the "industry remains reliable and strong."
The statements, issued by the National Association of Surety Bond Producers (NASBP) and the Surety & Fidelity Association of America (SFAA), representing surety companies, were prompted by the announcement last week that First Sealord had been placed in receivership.
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