Zurich Canada (“Zurich”) and Avalon Risk Management Canada, Inc. (“Avalon”) are pleased to announce that they have entered into a strategic initiative for the distribution and administration of Canadian Customs Bonds in response to the requirements of the Canada Broker Services Agency (“CBSA”) for the issuance of D-120 (“Customs Bonds”) and forthcoming changes under CARM Release 2.
Zurich has granted Avalon exclusive authority as Program Administrator to manage the sale, solicitation, and distribution of Canadian Customs Bonds using Avalon’s proprietary Merlin™ technology, which has been utilized in the North American Market for a quarter of a century.
Avalon is a leading provider of Customs Bonds in the United States and has been providing surety and insurance solutions in Canada since 2010. “Avalon is very excited about our new program with Zurich as it will enable Canadian customs brokers and importers to realize the speed and operating efficiencies which have been a hallmark of our offerings,” said Jim Zuhlke, Partner and Executive Chairman of Avalon.
Zurich’s network of surety underwriters, industry expertise and meaningful surety capacity can help companies achieve success. “We look forward to working together with Avalon, a market leader in the trade and transportation industry, to support trade and other business needs through innovative technology and value-added services,” said Jordan Walker, Head of Surety for Zurich.
The historical experience of Avalon and Zurich in the surety niche and the adaptability of the Merlin™ technology will simplify and expedite the issuance of Customs Bonds in anticipation of the May 13, 2024, release and implementation of CARM 2 and beyond.
