Commercial surety is a growing segment of the surety business. In fact, some agencies are looking for ways to capture more of this market. NASBP has noted several signs of this continued interest, for example, in the increased participation in commercial surety sessions at the NASBP Annual and Regional Meetings. In addition, students attending the NASBP William J. Angell Surety School more frequently indicate interest in learning about opportunities that await them when they return to work with their customers and prospects who may need commercial surety products.
Also, another indicator is the membership’s growing interest in NASBP’s recently developed the Commercial Surety Fundamentals course. The course provides a thorough orientation to commercial surety and instruction on how to attend to the details of commercial surety bonds – and Continuing Education Credits. This online course, offered through WebCE, is the most up-to-date and comprehensive program available and focuses on the key elements of commercial surety. The course has the information surety professionals need regarding legal requirements, underwriting processes, participant roles, and risks. The course outlines the required financial information and explains why and what should be collected and reviewed and how this information is used. In addition, it describes the key factors in successful conduct, including working with bonds, proven management principles, and the ethical standards and expectations of a professional. There are chapters on:
Commercial Surety Fundamentals
Evaluating Risk and Exposure
Underwriting the Principal
Professional Bond Agency Responsibilities
Each chapter concludes with review questions for students to gauge how well they are mastering the content. On completion of the course students demonstrate their comprehension of all the material by taking a final, online examination to earn their CE credits.
Many NASBP members rated the course highly. For example, Craig Hanson, Senior Vice President at Holmes Murphy & Associates, Inc. said, “This online course is a great overview of commercial surety and a convenient way to earn CE credits for those of us in the surety business. I have recommended that all members of our department take it.”
In addition, Melissa Yardley, Surety Account Manager at J. Smith Lanier & Co. stated, “NASBP Commercial Surety Fundamentals is a well-written course, it’s easy to understand and has good information. I learned a lot from it.”
The course is beneficial for incoming and new surety bond producers as well as for seasoned and experienced professionals. NASBP Immediate Past President J. Spencer Miller, Managing Partner at Schwartz Brothers Insurance said, “I took Commercial Surety Fundamentals to earn CE hours for my license renewal. Although I don’t regularly do commercial surety, I liked this course and found it very informative. I also used it as a resource in a few transactions I was working on at the time. I highly recommended it – plus, it’s rare to be able to find CE courses in the surety field.”
Priced at $189, the Commercial Surety Fundamentals course can be taken by students at their own pace within a twelve month period. Direct questions about the course to Cathrine Nelson at 202.686.3700 or cnelson@nasbp.org. Register for the Commercial Surety Fundamentals course and other WebCE courses now. To learn more about the Commercial Surety Fundamentals course visit NASBP.org.
