My theme for the coming year is to have a “Celebration of Surety.” This time-honored and widely-used product of ours has served society well for the past 100-plus years. Let’s be proud of our past accomplishments, take stock of today’s challenges facing the surety product, and continue in this millennium with the standard of excellence with which end users have come to expect from us.

One of the challenges before us is training and developing those new to the surety industry. We have a unique closeness in this industry to all with whom we interact daily. This provides us many opportunities to foster, mentor, and pass on the secrets of our own success and that of our industry to others.

Back in the day (a phrase our teenage children frequently use), our industry practiced a form of training and development that has been lost over the years, or at the very least, become scarce. I’m referring to the concept of mentoring. The term as defined in an online dictionary is as follows:
               Mentor – 2 a: a trusted counselor or guide b: tutor, coach*

As a young “rookie” in the surety business, I was lucky to have a number of mentors who took an early interest in my career. I received the normal teaching and training, as needed, but the mentoring I received from interested professionals took my education to a much higher level. Their guidance and advice helped immerse me into a culture of unwavering ethical business behavior. My mentors imparted knowledge of how to be successful beyond book smarts and how to develop the innate sense or feel for the customer/account. The concept of doing right and being noble became second nature, beyond a deliberate thought; it became instinctive. This kind of guidance helps a beginning surety professional understand the ethical commitment of the profession. The more who enter this profession and adopt a standard of ethical behavior, the more professional and successful our industry will become.

This concept of mentoring is far from a new one. The trade guilds of the Middle Ages had a structured apprenticeship system where the master artisans passed on their knowledge and ability to the apprentice. Our own associates in the building trades carry on the tradition. The surety industry’s challenge is beyond training and passing on of knowledge. Our additional challenges include teaching those who enter this profession a high-standard of ethics, a commitment to earn the confidence of clients and colleagues, and an appreciation of a culture bound by an esprit de corps.

Experienced agents can easily try to take advantage of new, gullible underwriters to obtain what they need for their agencies. I would challenge these parties to renew their commitment to the highest standards of ethical behavior. Everyone will benefit from such a commitment, learning from each other’s example and shaping a tremendous future for our industry.

On the opposite side of the coin, seasoned, well-established underwriters could easily dismiss and discourage agents/brokers new to this business. I would encourage that they work together to create a supportive environment to nurture the “young” of our business. When an account doesn’t pass muster, I encourage underwriters to provide a detailed explanation why it was declined.

I ask our members and affiliates to assume a mentoring philosophy with those they transact business with on a daily basis. In the end, our industry will include more qualified and prepared people at all levels. This effort will help the industry concern of having enough qualified people.

With the continued help and support of the dedicated NASBP members and affiliates and NASBP staff in Washington, I am confident of a successful year. I look forward to working together to face the challenges ahead.

I also wish to recognize and to congratulate The Surety and Fidelity Association of America (SFAA) on the celebration of its 100th Anniversary. Best wishes and much continued success.

Respectfully,

William F. Maroney
President

William F. Maroney is Senior Vice President of City Underwriting Agency, Inc. of Lake Success, New York. He can be reached at bmaroney@cuagency.com.

* "mentor." Merriam-Webster Online Dictionary. 2008.
Merriam-Webster Online. 1 July 2008
<http://www.merriam-webster.com/dictionary/mentor>