Is UniFi licensed?


UniFi is a California licensed property/casualty broker-agent (License#: 0I48780).

Unifi is a general managing underwriter of completion bonds for Intact Financial Corporation (Intact) and Intact Insurance Group USA, LLC (Intact Specialty), and our completion bonds are issued through their subsidiary insurance companies.

Atlantic Specialty Insurance Company is an admitted carrier authorized to write surety coverage in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands, and provides our completion bonds to customers based in the United States. Intact Insurance Company is an admitted carrier authorized to write surety coverage throughout Canada and provides our completion bonds to customers based in Canada. Our completion bonds may be issued through other insurance carriers to customers based outside North America.

An admitted carrier is licensed by a particular state to do business as an insurance company and must conform to state laws and regulations including charging only rates that have been approved by the Department of Insurance. The fundamental reason for government licensing regulation of insurance is to protect consumers and ensure that promises made by insurers are kept. Licensing provides crucial safeguards for consumers both in terms of financial and policy regulation. An added benefit of working with an admitted carrier is that the state has the responsibility to pay an admitted insurer’s claims, up to state-specified limits, in the event of the insurance company’s insolvency.

Licensed insurers are subject to periodic financial examinations. Examiners investigate a licensed insurer’s accounting methods, procedures, and financial statement presentation. These exams verify and validate what is presented in the insurer’s annual statement to ascertain whether the company is in good economic standing and has the financial ability to pay policyholders’ claims. Moreover, licensed insurers are subject to state laws and regulations establishing how and when policy claims must be investigated, adjusted.

The regulation of insurance companies also provides an outlet for consumers to seek redress if a licensed insurer makes promises it does not keep. States have established special consumer units to receive and handle any complaints and work with policyholders and insurance companies to resolve any disputes.

Not all competing completion bond companies are licensed insurers. Unlicensed completion bond companies may not be subject to the same laws and regulations. You, your financiers, and investors may lose significant rights and protections under insurance laws and regulations by choosing to accept a completion bond from a non-licensed bond company.

We provide extreme legal and financial protection to our customers by issuing our completion bonds directly by and in the name of an admitted, subsidiary insurance company of Intact or Intact Specialty.