Facing the Future by Staying the Course

The time has arrived when my term as President of the National Association of Surety Bond Producers expires. The Annual Meeting in La Quinta is almost here, and I find myself dealing with a number of emotions. In my last column for Pipeline, I will attempt to recount for you the continued positive evolution of our treasured association.
First, I must remember some very special people who in no small measure shaped our industry and are no longer with us. On September 25, 2008, Jack Curtin passed away, and I lost my industry mentor and one of my dearest friends. His loss reminds me of the message of my first Pipeline column, which challenged NASBP members to mentor young industry professionals. I sorely miss Jack’s advice, his dedication, his commitment to the surety product, his sense of honesty and integrity, his rapier wit and his wonderful sense of humor, but most of all I miss my friend. I was bereft at the thought that, when I might need his advice, he would not be there. But when that time came, I found that Jack had not left me. His presence and spirit still resides in me, and the phrase, W.W.J.D. [What would Jack do?], has been a great help and comfort in my decision-making. To Pam, Joel, and Jeremy, thank you for allowing us to have Jack for our betterment, at no small sacrifice to you of not having him at home. Jack Curtin was a special person who positively touched and influenced everyone he met, and a person that I and the industry will never forget.

Another influential leader of our organization, Jack Warnock, passed away this past year. Jack was a mentor to many of our members and affiliates in the San Diego area and throughout the country. Always supportive of NASBP’s efforts, Jack was a strong political advocate for our product, who never shirked from fighting the “good fight” for the integrity of the surety product in both public and private forums. Jack, you are greatly missed, and we thank you for your years of service.

Katie Corcoran passed away quite suddenly a few months ago. Katie was one of our young NASBP shinning stars and leaders. I always remember Katie for her quick smile, cheerful demeanor, and kind words. She possessed an effervescent personality and cast warm greetings to whomever she met. The tragedy of losing Katie at such an early age gives special meaning to the old Irish saying, “God must have loved her dearly to have taken her so soon.” To Katie’s husband, Randy, and her sons, Ryan and John, I want you to know how treasured Katie was by her NASBP family. Cherish the time you had with Katie, and remember she will always be with you and us.

Recently, we lost a distinguished member of our affiliate ranks when Jay Scribner of Guarantee Company of North America passed away several weeks ago. Jay helped pilot our industry through good and grave times, and always kept the good of the product at heart. Working throughout his career with contractors of all types and sizes, Jay was a true gentleman in our industry, always carrying himself with professionalism and dignity.

Our past emboldens our future, as embodied by these departed industry leaders. Each gives us examples to face our current industry and economic challenges. As an industry, we must gird ourselves for the inevitable bank and owner failures. However, as an industry, we are prepared and in position to meet these challenges.

We are a resilient industry staffed by resilient people. By keeping our professionalism and integrity in tact while maintaining the high standards of underwriting, the obstacles we face in the future will be overcome. We must be committed to “Staying the Course.” The underwriting discipline practiced these past years has resulted in sound profits and growth for our industry; this same discipline prepares us for the impacts of the adverse economy.

We must be prepared to work smarter and more efficiently. All should seek every opportunity to be at the top of his or her game through education and training. To that end, NASBP has been making and will continue to make investments in its best practices resources and its professional development offerings to ensure that you have the resources and experiences to succeed in this difficult business climate. The NASBP Surety School offerings continue to be well received by both members and affiliates. As you already may be aware, NASBP has embarked on an educational program to bring you a series of virtual seminars, providing you with timely information without you having to leave your office. The next such seminar, complimentary to members and affiliates, is offered on May 5 and will address recent enhancements to the Small Business Administration’s bond guarantee program. My thanks and highest respect to the NASBP members and affiliates who volunteer their time and efforts on behalf of professional development programs and to the NASBP staff that make these programs happen.

I again raise the call to mentor young surety professionals. The amount of hands-on education provided by life lessons is priceless. Both members and affiliates must commit to mentor the next generation; it is our responsibility and the key to the industry’s continued success. As part of my post presidential duties, I will take on the role of coordinating and running the “5/15” initiative to bring it forward and expand its scope. Chubb Surety has been kind enough to put forth the first part of the curriculum, which will continue to be developed. Other affiliates have offered to create developmental programs for the 5/15 Group. NASBP will continue to expand the 5/15 Group and to develop the curriculum for their advancement. NASBP recognizes that its future must be secured through capable and prepared prospective leaders.

The NASBP Executive Committee and the Board of Directors are committed to bringing best practices management to the management of NASBP. We have a responsibility to our members and affiliates to assure that our organization runs properly, profitably, and effectively. The entrepreneurial mindset of the NASBP membership can find ways to make our good organization even better.

Our membership recruitment and retention has been a crazy roller-coaster ride, which always seems to wind up on the downward slope at the end of the day. We need to bring more surety professionals, at every level of development, into our ranks. The Board of Directors and Executive Committee will be studying ways to improve and streamline our current, archaic membership process. I challenge all members and affiliates reading this column to recommend a new member today; you know they are out there, and you know who they are!

As part of our future prosperity as an organization, we will also need to think outside of the box in areas such membership, new products, and interaction with the other trusted advisors that we work with on behalf of our clients. Last summer, NASBP undertook a strategic planning process to help the NASBP leadership identify our path and possibilities for the future.

I believe that NASBP needs to consider a new way to expand. I advocate that serious thought be given by the Board of Directors to the creation of a third level of participation in the life of the Association. This new group, the Associates, would consist of ancillary professionals that service the construction industry and that interact with bond producers on a day-to-day basis, such as CPAs, attorneys, construction lenders, and claims consultants, to name a few. While I fully realize this will be met with no small amount of angst, this is an opportunity that needs to be fully vetted.

We as an industry must always be willing to look at ourselves and the surety product in the mirror. We need to look at ways to expand our product for use in the financial marketplace perhaps this also will entail the creation of new products. Voids are being left by the skittishness of banks, and the reduction of credit availability may give rise to significant, new opportunities.

In conclusion, I wish to thank all of the staff at NASBP for their unwavering support and commitment to the continued success of the Association. Under the management and direction of Dick Foss, we will continue to make strives forward. Dick, your help and guidance are greatly appreciated.

The hands-on, hard-hitting resolve of our General Counsel, Mark McCallum, has given us stronger clout, as well as, stronger strategic alliances with AGC, ABC, ASA, ASC and other industry groups. The members of Congress have worked with us on many issues always in conjunction with SFAA. State issues such as the abuse of the surety product in the Commonwealth of Kentucky is one of many NASBP/SFAA joint issues successfully tackled. A more proactive and dedicated champion of the surety cause you will never find!

Kathy Mapes Hoffman is so patient. She patiently waits for my articles, like this one. Thanks for the command of and help with the English language and for just being nice. I thoroughly enjoy working with you and consider you one of the major assets of NASBP.

Our newest addition, Larry LeClair, has hit the ground running at NASBP and has yet to stop. Larry’s untiring efforts on Capitol Hill, has resulted in a renewed stimulus on Capitol Hill, our message is getting across, and we are being heard.

Ann Latham and Cathrine Nelson make sure that our educational efforts and offerings continue without a snag. As the keepers of the education and professional development initiative, the Jewel in the Crown of NASBP, more capable stewards cannot be found.

Bethany Hillinger makes our meetings and events first rate, putting our best foot forward and making anyone who reaches out to her feel like someone special. Thank you, Bethany, for making the NASBP President’s job so easy, and thank you most of all for the kindness and help extended to my family.

Dasha Brock’s untiring efforts in the area of new membership development is a thankless job done behind the scenes, but be assured that her efforts on behalf of NASBP are most appreciated.

Dave Golden has been an excellent help in our communications and automation effort. The development and release of the Tool Kit was due to Dave’s persistence and efforts. Thank you for being so patient with me, Dave. It has long been said that an Irishman is like a computer, you need to punch information into both of them.

Charnita Sims’ is the first voice often heard at NASBP. You make us proud. When a person is in contact with you, I know we have put our best foot forward. Thank you for all your good efforts.

Koula Korson, who keeps me grounded, is the longest friend I have at NASBP, thanks for always being there for me.

Looking back over the past four years until now (because it is a process that starts with the NASBP Third Vice-Presidency) I have been fortunate enough to interact and work with some of the most dedicated, professional people I have met. The nominating committees have chosen well (with perhaps myself being the exception) to ensure that the leadership of our Association serves you well. The level of stewardship ensconced in the leadership of NASBP continues to make us great. To all of the NASBP Committee Chairs, Regional Vice Presidents, Directors, and Executive Committee members (past, present and future), thank you for your help and support and most of all thank you for your friendship.

In closing, I want to humbly thank all of you for placing your trust and confidence in me. I hope that I was of some help, and my efforts made some measure of difference in the progress of our industry. As we move forward I will continue to “Run the Race, Fight the Fight, Keep the Faith” and ask that you do so too.

William F. Maroney
NASBP 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.