Industry

NASBP works closely with surety companies, construction industry partners, and other key organizations to advance the use and understanding of surety bonding. NASBP also pursues partnering agreements with key groups, such as construction industry associations. These strategic partnerships enhance and expedite communications between the organizations on a variety of important issues, including the state of the surety market, the importance of bonding requirements to preserve payment protections, and effective risk management practices. NASBP's Industry Relations initiatives stem from its Industry Relations Committee. If you have an interest in joining the Industry Relations Committee, please contact Kathy Hoffman, Director, Communications.

The NASBP maintains close and productive working relationships with the major trade organizations representing surety companies in the United States, including The Surety & Fidelity Association of America and the American Insurance Association.

With these groups NASBP pursues a number of joint initiatives to benefit knowledge and use of surety bonds.

Surety companies may also join NASBP as affiliates to participate in NASBP events held throughout the year.

Click here for information on NASBP Membership. 

Below is a list of links to web sites of various Surety and Insurance organizations:

• Association of Cooperative Operations Reseach and Development. (ACORD)
• American Institute for CPCU (AICPCU) and Insurance Institute of America (IIA)
• The Council of Insurance Agents and Brokers (CIAB)
• Independent Insurance Agents & Brokers of America (IIABA)
• International Risk Management Institute (IRMI)
• National Association of Professional Insurance Agents (PIA)
• Panamerican Surety Association (PASA) / Asociación Panamericana de Fianzas (APF)
• Reinsurance Association of America (RAA)
• Risk Management Association (RMA)
• Surety Association of Canada (SAC)
• Surety Information Office (SIO)

Surety bonds are an important and prevalent component for successful completion of private and public construction projects in the United States. In fact, contract surety bonds, in the form of bid, performance, and payment bonds, are statutorily required to be furnished by construction contractors performing public sector construction work at virtually all levels. To that end, NASBP seeks out and maintains active liaisons with many organizations representing construction project participants, including associations representing public and private owners, design professionals, contractors and trade contractors.

Where possible, NASBP seeks partnering agreements with these organizations for the purpose of enhancing cooperation, collaboration, and information exchange for the betterment of the construction industry. Click here for more information about recent partnering agreements that NASBP has signed with construction industry associations.

Construction industry organizations with which NASBP has worked include the following groups:

• American Association of State Highway and Transportation Officials (AASHTO)
• American Institute of Architects (AIA)
• American Subcontractors Association, Inc. (ASA)
• Associated Builders & Contractors, Inc. (ABC)
• Associated General Contractors of America (AGC)
• Associated Specialty Contractors, Inc. (ASC) ASC includes the following nine trade associations:
  • Finishing Contractors Association (FCA)
  • Mechanical Contractors Association of America (MCAA)
  • National Electrical Contractors of America (NECA)
  • National Insulation Association (NIA)
  • National Roofing Contractors Association (NRCA)
  • Painting and Decorating Contractors of America (PDCA)
  • Plumbing-Heating-Cooling Contractors-National Association (PHCCNA)
  • Sheet Metal and Air Conditioning Contractors' National Association (SMACNA)
  • Subcontractors Trade Association (STA)
• Construction Financial Management Association (CFMA)
• Construction Management Association of America (CMAA)
• Construction Owners Association of America (COAA)
• Construction Users Roundtable (CURT)
• National Asphalt Pavement Association (NAPA)
• National Association of Women in Construction (NAWIC)
• National Utility Contractors Association (NUCA)
• The Road Information Program (TRIP)
• Women Construction Owners & Executives (WCOE)