Ullico Invests $396.5 Million in Real Estate Projects in Q4 2022
The loans will finance construction projects in Honolulu, Philadelphia, San Francisco, and Seattle, and all construction will be built with union labor.
May 25, 2022
Washington, D.C. (May 25, 2022)— Ullico Casualty Group, LLC, in conjunction with partner NFP, a leading Property & Casualty broker, is offering a new program to help small, minority-owned, and woman-owned enterprises (MWBEs) obtain the bonding necessary to compete for bids as signatory contractors on union construction projects within its Construction Risk Services portfolio.
The Ullico/NFP Small Contractors Surety Bond Assistance Program provides MWBEs access to bonding they may not have had previously, due to the challenges associated with bonding new contractors. At the same time, it encourages them to bid on publicly funded projects and large commercial projects where union labor is required.
“We have made the bonding process as simple and hassle-free as possible,” said Tina Fletcher, President of Ullico Casualty Group. “By making it easier for small, minority-owned and woman-owned contractors to get bonded, we’re addressing disparities in the bidding process, and we’re helping unions prosper.”
Contractors can apply for bid bonds, license and permit bonds, performance and payment bonds, supply and maintenance bonds, and union wage and welfare bonds, with single bond limits up to $500,000 in a streamlined version of the program and limits of $20,000,000 or more in standard programs.
More information on the bonding program and other Construction Risk products such as insurance for small contractors is available at www.ullico.com/casualty
The Ullico Inc. family of companies provides insurance and investment solutions for labor organizations, union employers, institutional investors and union members. Founded 90 years ago, the company takes a proactive approach to anticipating labor’s needs, developing innovative financial and risk solutions and delivering value to our clients. Our products are tailored to promote financial security and stability for American workers.
The Ullico Inc. family of companies includes The Union Labor Life Insurance Company; Ullico Casualty Group, LLC.; Ullico Investment Company, LLC.; and Ullico Investment Advisors, Inc. For additional information, visit www.ullico.com .