Important News for Licensed Contractors with a Bond from Surety Company of the Pacific
SACRAMENTO - Effective March 2, 2009, Surety Company of the Pacific (SCP) was merged into American Contractors Indemnity Company (ACIC). As a result of this merger, ACIC directly assumed the surety bond obligations of SCP, which no longer exists as a separate surety company. Accordingly, all SCP surety bonds are now surety bonds of ACIC.
As a result of this change, the California Contractors State License Board (CSLB) has updated the Contractor's Bonding History pages on its Web site (www.cslb.ca.gov) for all licensed contractors that had their contractor's license bonds through SCP as of March 2, 2009. The Contractor's Bonding History page for all such contractors now reflects that their SCP contractor's license bond was cancelled as of March 2, 2009, and was replaced with an ACIC contractor's license bond with an effective date of March 2, 2009.
The ACIC contractor's license bond is not a new bond. It is the same bond issued by SCP, but it automatically became an ACIC bond by operation of law as of March 2, 2009. To facilitate the referenced change, the SCP contractor's license bond numbers were modified to ACIC bond numbers by adding "SC" to the front of the SCP bond numbers.
Although the Contractor's Bonding History page for licensed contractors that previously were bonded through SCP shows that such bonds were cancelled as of March 2, 2009, these bonds were not cancelled. Rather, they were automatically converted to ACIC contractor's license bonds, with no interruption in coverage. ACIC did not issue a separate new bond.
If you have any questions regarding this matter, contact the CSLB's Licensing Information Center at 1-800-321-CSLB (2752).
Sign Up For Industry Bulletin Email Alerts
Please type in your email below and click submit.