Financial structure and security, available at the time the bonds are written, often have disappeared or have become inadequate by the time the loss potential arises. The typical reaction to such a long term exposure is to secure the risk with collateral to eliminate the potential for loss. However, the bond limits involved in many mining operations seem to require such large amounts of collateral that the result would be the financial crippling of the operator.

A better appreciation for the nature and size of the risk within the bond limits is often the solution to responsible bonding program. NewBridge Services is uniquely qualified to provide the information required to develop such an evaluation.

As part of the underwriting pre-qualification of the risk that Cumberland Surety prepares for its carriers, NewBridge personnel evaluate the permit, the operations and the "on the ground" risk. After this pre-qualification, an underwriting program consisting of appropriate limits, collateral, controls and monitoring is proposed.

NewBridge is capable of handling all parts of this process, from the initial requests for bonding through the formalization of the contractual relationship between the operator and the surety.

This ability can be accessed from several directions:
 

A surety may avail itself of NewBridge's services to either screen prospective risk or to maintain control on existing clients. This can be done either on an individual risk basis or as part of a larger underwriting program.

Producers may use NewBridge to pre-qualify a risk prior to submission to a carrier or may choose to offer the risk with a stipulation of ongoing monitoring and controls. Again this can be on an individual case or as part of a program which the producer sponsors.

Operators who have either unique operational issues can also work with NewBridge to attempt to bring the resources together to address the operator's needs.