April 27, 2020

 

I hope you and your family are healthy and are surviving these tough times. Whether you are a parent juggling work and homeschooling, or a business owner worried about the impact COVID-19 is having on your financial well-being – or both - these months have, no doubt, been trying.  

It’s hard to believe it’s been more than a month since all Liberty Mutual employees began working from home. It seemed daunting at first, but I can proudly say that we haven’t missed a beat. We are continuing to write new business, service existing bonds, launch new online functionality, and meet with agents and clients, albeit virtually. From commercial bonds for individuals, to contract bonds for global construction companies, we are open for business. I can’t emphasize this enough.

As of today, all critical travel is still restricted, and Liberty Mutual employees are continuing to work from home until at least May 29. In accordance with government regulations and with the well-being of our employees at the forefront of decisions, we are evaluating different scenarios to reopen offices.

Business updates
While some carriers have stopped accepting new transactional accounts, Liberty Mutual Surety has done the opposite. We launched a new simplified application for our Surety Plus Xpress business and just enhanced our eBonding system so that contract agents can update bid results and manage their backlog. We are still investing in technology! 

It is now more critical than ever that contractors understand their true costs and generate accurate financial projections. Our Construction Consulting Services (CCS) team understands this and has adapted its processes. The CCS team of accountants and engineers is equipped to visit contractors virtually to assess their systems and processes, evaluate their subcontractor and supply chain management, and make recommendations to help position our mutual customers for long-term success.

As you likely know, NASBP and SFAA have been actively lobbying federal and state governments to waive wet signatures and notary requirements. Liberty Mutual Surety fully supports these efforts, as evidenced by the recent digital corporate seals we made available.

Giving back
To date, Liberty Mutual has committed $15 million to coronavirus relief efforts. Donations include grants to help organizations on the frontlines treat those who are ill and stop the spread of the disease. The support also helps provide food and shelter to the most vulnerable populations that have been impacted by the pandemic, including low-income residents and those experiencing homelessness. 

I want you to know that you can feel confident placing your business with us. We are part of a financially strong company that will be here long after the pandemic is over. And, be assured that if your customer does have a claim, our expert in-house claims attorneys will be here too.

Action requested
You are the conduit to our customers. As such, I am asking you to download this bulletin and email it to our mutual clients so that they too can feel confident in their decision to choose Liberty Mutual Surety as their surety.

Liberty Mutual COVID-19 resources can be found on the Viewpoint website. Please be well.

Sincerely,
 

 

 

President, Liberty Mutual Surety