Who We Are
The National Association of Surety Bond Producers (NASBP), founded in 1942, is the Association of and resource for surety bond producers and allied professionals. NASBP® producers specialize in providing surety bonds for construction contracts and other purposes to companies and individuals needing the assurance offered by surety bonds.
NASBP producers engage in contract and commercial surety production throughout the United States, Puerto Rico, Guam, and a number of countries. They have broad knowledge of the surety marketplace and the business strategies and underwriting differences among surety companies. As trusted advisors, professional surety bond producers act in many key roles to position their clients to meet the underwriting requirements for surety credit.
NASBP is solely dedicated to the needs and interests of surety bond producers and serves a membership with personnel of more than 5,000 surety agents and brokers. NASBP takes action on behalf of its membership and the practice of suretyship by:
- engaging decision-makers and strategic partners,
- advocating for access to surety bonding, preservation of bonding requirements, and nondiscriminatory practices,
- advancing the role of surety professionals, professional development, and equitable risk environments, and
- empowering surety professionals with grassroots efforts.
History
In the summer of 1942, NASBP originated from a meeting of several surety agents to determine how to respond to a growing practice of waiving bonds on war-related construction projects. They created a plan that successfully reversed that trend, and realized the benefits of working together for the common good. Those surety agents decided to form a permanent organization that would work together to:
- anticipate and solve industry problems,
- develop standards for professional bond producers, and
- promote understanding and recognition of the value of corporate suretyship among public and private project owners.
Later in 1942, NASBP was officially established as the national organization to represent the interests and needs of surety agents and brokers.
In 1961, a permanent headquarters office for NASBP was established in New York City and the Association hired an executive secretary.
In 1971, NASBP's headquarters moved to Washington, DC because it became clear that federal government actions would increasingly impact the use and practice of suretyship.
Today, NASBP has grown as a leader in defending and promoting suretyship and is the recognized voice of surety bond professionals with government and industry.
