The Surety Schools Serve as Ambassadors of Surety Internationally
Many in our community understand the important role that the NASBP Surety Schools, Levels I, II, and III, have played and continue to play in educating generations of surety professionals throughout the country. Graduates of these Schools often cite the practical knowledge gained and recount the long-term industry friendships and connections they formed as a result of completing one or more of these schools. Fewer in our industry, however, may understand the significant role that these schools play in orienting and educating surety professionals beyond U.S. borders. Just in the last five years, NASBP Surety Schools educated more than 40 students from beyond the U.S; students came from nine different countries: Australia, Brazil, Canada, Cayman Islands, China, South Korea, Singapore, Great Britain, and Turkey. The diversity of these classes seems to demonstrate that surety opportunities continue to become more global and that the U.S. surety industry, through such institutions as the NASBP Surety Schools, will serve as the guide and resource for such international activity.
Take note of what one recent international student said regarding his experience at the Level I Surety School this past January:
| “I spent three days in Houston for Winter Surety School Level I in 2015. The course instructors are very practical, knowledgeable and we also had a lot of fun in the class. Actually, I am handling international surety business for Chinese companies doing projects in Latin American countries, like Panama, Colombia, Ecuador, Venezuela, etc., which is a little different from the national surety business in U.S. But fundamentally, we are discussing the working capital, net worth, debt ratio, cash flow.
The teachers are amazing because they are all senior brokers, agencies and underwriters, who have no responsibility to share their experience and successful stories to others or even competitors, but they do and we benefited a lot from these stories, which is extremely valuable for the junior people looking to grow their careers in the surety industry.” |
An underwriter attendee from Singapore wrote:
| “It’s been a pleasure attending the course and I’ve learned so much on how surety works on the other side of the world. Level 1 is very good for both new producers and new underwriters to learn the basics on risk evaluation. While our current focus is on contract bonds, attending the class has opened me up to commercial bonds. The case study is particularly interesting as it somewhat reflects a real life situation and is very inspiring. The instructors are very friendly and are willing to share their personal experience, which I find is practical for work. In short, the program is worth the time and money spent, especially when there are not many surety education programs in Asia, and I certainly look forward to attend the next level.” |
Another recent student from Australia said:
| “Extensive industry experience, knowledge and engagement from the instructors provide incredible benefit to someone with at least a year of experience in the surety market. I would recommend Level II Surety School to international markets as well, as some of the underwriting tools explored (in particular, WIP analysis) has benefits that can be applied in any market to any potential client.” |
Through its Surety Schools and through its recently reconstituted International Committee, NASBP is doing its part to spread information and education to producers and underwriters working in both domestic and international surety markets. This is just part of our continuing effort to realize our mission: “to strengthen professionalism, expertise, and innovation in surety and advocate its use worldwide.”
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