About Machaen Insurance Agency
Personalized surety and professional lines expertise, built on nearly three decades of industry experience.
A trusted advisor in a complicated marketplace
Machaen Insurance Agency is a surety and specialty insurance agency serving clients throughout the United States across three areas: contract surety for construction, commercial surety for money transmitter licensees, and professional lines insurance. Our mission is to partner with clients as a trusted advisor, offering tailored, professional guidance that simplifies the complexities of the surety and insurance marketplace.
Our roots go back to 1996, when the firm was founded in New Jersey as a surety bonding specialist for money transmitters, crypto currency businesses, and FinTechs, both across the United States and in Europe. Commercial surety for the money transmitter industry is where we built our underwriting discipline, and it's still where we're best known: today we serve roughly 20% of the entire MTL market. We've since brought that same underwriting discipline to contract surety for construction, an area where we've built real experience and continue to grow.
Built on nearly three decades of dedicated service in the surety industry, we pride ourselves on fostering enduring relationships built on trust, personalized care, and an unwavering commitment to our clients’ success. Our hands-on expertise empowers us to deliver solutions that safeguard our clients’ interests and support their long-term growth and stability.
As agents, not brokers, we are able to offer our clients highly competitive rates. Every surety and carrier we place business through is A-rated and Treasury Listed where applicable, giving our clients confidence that their bonds and policies are backed by financially strong partners.
What Commercial Surety for Money Transmitters Means, and Why We Started There
A money transmitter license bond is required as part of the licensing process in nearly every state. It guarantees the licensee's compliance with that state's money transmission statute and protects consumers who use the licensee's services from loss due to insolvency, fraud, or a failure to remit funds as required by law. Unlike contract surety, the bond amount is fixed by statute rather than underwritten deal by deal, but the surety standing behind it is still underwriting the business itself, its regulatory standing, its compliance program, and its financial strength relative to the volume it moves.
Commercial surety for money transmitters, crypto currency businesses, and FinTechs is where Machaen Insurance Agency built its underwriting discipline, and it remains our core specialty: today we serve roughly 20% of the entire MTL market nationwide. That same discipline, reading financials the way a regulator does and building a compliance-first file before it ever reaches an underwriter's desk, is what we've since brought to contract surety for construction (bid bonds, performance bonds, payment bonds, and maintenance bonds) and to professional lines coverage like Cyber, Crime/Fidelity, E&O, Tech E&O, and D&O.
For every client, that focus translates directly into results: faster turnaround, a clearer path to more capacity, and an agent who already understands the rhythms of your industry rather than treating your account like any other policy on the shelf.
Our Team
Alex Navarro
President & CEOAlex founded the firm in 1996 and has spent nearly three decades building its surety practice from the ground up, starting in commercial surety for money transmitters, crypto currency businesses, and FinTechs and helping establish how that industry approaches its own surety bonding programs along the way. Under his leadership the firm grew to serve roughly 20% of the entire MTL market nationwide, and more recently expanded into contract surety for construction.
Luis Ospino
Chief Operating OfficerLuis has been with the firm for 20 years, working across a range of roles before being named Chief Operating Officer in 2015. He runs the firm's day-to-day operations and manages client relationships, and is often the first person a client works with once a bond request is underway.
Alexander Navarro
Vice PresidentExperience: Prior to Machaen Enterprises Inc., Alexander spent six years working in New York City compliance departments at various money transmitters and foreign banks. Most recently he served as the Transaction Surveillance Unit Manager at Landesbank Baden Württemberg. While in New York he underwent various examinations conducted by the OCC, DFSNY, and the FRBNY. He specializes in statistical model-based surveillance and has created and deployed surveillance software programs.
Today, Alexander brings that regulatory and compliance background to Machaen Insurance Agency, applying the same rigor he used to examine financial institutions to underwriting and structuring contract surety, commercial surety, and professional lines programs for clients. He helps clients build capacity deliberately, stay ahead of underwriting requirements, and move quickly when a deadline is close.
Judith Mitchell
Executive Administrative AssistantJudith has been with the firm for 15 years, handling office operations, administrative support, and the firm's client database. She keeps client files organized and requests moving smoothly behind the scenes.
Let’s Talk About Your Bonding or Coverage Needs
Reach out to Alexander and the Machaen Insurance Agency team for a free consultation.
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