Washington State Contractor Registration statutes require that all contractors be licensed (or registered) and bonded. Many of the contractors in the state of Washington obtain their registration bonds from Contractor’s Bonding and Insurance Company (CBIC). On December 27, 2010, CBIC announced that it has been purchased By RLI Insurance for $137 million. RLI Insurance is a licensed Washington State bonding company based in Peoria, IL and has also been bonding contractors in this state for many years. CBIC bonds over 30,000 contractors.