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 1960s, 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.