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At IFIC, we treat subdivision as a separate line of surety because of its uniqueness. We have been writing subdivision for a long time. In fact, since the 1960’s, IFIC has been one of the leading writers of subdivision in the New York City – New Jersey metropolitan area. We also provide subdivision capacity for commercial developers as well as large regional and national home builders to assist them in rounding out a portion of their large surety program needs.
Despite downturns in the housing market, we pride ourselves on being a consistent subdivision market throughout all phases of the business cycle. Being a consistent surety market in all lines at all times, including subdivision, is essential to developing long-term profitable relationships with agents. Our capacity for subdivision for single and aggregate amounts is $15 million and $40 million, respectively. Most of the bonds we write in this line are six-figure amounts and seven-figure programs.
