During NASBP’s Annual Meeting that took place May 7 – 10, 2006 at The Grand Floridian Resort, Lake Buena Vista, FL, Stephen L. Cory, President of Cory, Tucker & Larrowe, Inc. in Metairie, LA, was elected NASBP president.

Directors

• • Keith W. Brown, President, Brown & Associates, LLC, Memphis, TN
  • Dona Lisa Buschmann, Producer, ABD Insurance and Financial Services, Inc., Sacramento, CA
  • Lynne Cook, Senior Vice President, Early, Cassidy & Schilling, Inc., Rockville, MD
  • Kathryn Cocoran, Vice President, Downey and Company, Albuquerque, NM
  • Mark S. Drengler, President, Surety Bonds and Insurance Agency, Inc., Powell, OH
  • Mark A. Edwards II, Senior Vice President, McGriff, Seibels & Williams, Inc., Birmingham, AL
  • Stephen W. Freeman, Principal, Hess, Egan, Hagerty & L’Hommedieu, Inc., Chevy Chase, MD
  • Susan Hecker, CPCU, Executive Vice President, Gallagher Construction Services, San Francisco, CA
  • Rodney A. Higgins, President, Higgins & Rutledge Insurance, Inc., Boise, ID
  • Charles C. Leach, Underwriting Manager, Fuller & O’Brien, Inc., Albany, NY
  • Kurt C. Lundblad, Vice President, Cedarleaf, Cedarleaf & Cedarleaf, Inc., St. Paul, MN
  • John S. Meehan, Senior Vice President, Acordia of Kentucky, Inc., Louisville, KY
  • Patrick Pribyl, Senior Vice President, Lockton Companies, Inc., Kansas City, MO
  • Robert E. Shaw, President, Skillings-Shaw & Associates, Inc., Lewiston, ME
  • Arnaldo Soto, Jr., Executive Vice President, Carrion, Laffitte & Casellas, Inc., Hato Rey, PR
• Tracy D. Tucker, President, Tucker Agency, Inc., Fort Worth, TX

Regional Vice Presidents   

   “We Have a Great Story; We Just Have to Tell It “

As I thought about the idea of being president of NASBP, I began to wonder. What was I thinking that made me believe I had the time and talent to take this position? How could I follow recent past presidents such as Brian Driscoll, Matt Cashion, Craig Hansen, and most recently, Ed Heine? These friends of mine seemed to grow and enjoy this position. No doubt it is an honor and a privilege, but it comes with what seems to be great responsibility.

I began to think about NASBP and what makes it so successful. It has a great history. What put it into words was a quote I read, “I must hurry, for there they go, and I am their leader.” That put it into perspective for me. My job is to represent the commitment, professionalism, passion, and dedication that our membership has to the surety industry. The real work is done day to day in each and everyone of our offices. NASBP is the vehicle we use through our committees, membership and our great staff to protect and promote our industry.

My good friend, Matt Cashion, started asking me a year ago, “Cory, what is your theme? Susan (Matt’s wife) keeps asking me.” Right, Susan wants to know? However, that is a legitimate question. A lot of work has been done by and through this association along with our partners at SAA and through SIO, our public relations joint venture, to promote and protect surety. My theme is, “We have a great story; we just have to tell it.”

I would like to “Brand” NASBP and market what we do for our members and the industry. We need to communicate more effectively and more proactively. Laced through every presentation whether it was our modeling panel, our leadership seminar, our risk discussion, or the Disney Institute was the central theme of people, good people. It is a problem for our industry as it is for most industries – finding, training, and retaining good people. One major initiative we have asked our RVPs, directors, and committee members is to get new young talent to join our committees and get involved in NASBP. We need them at our Regional Meetings and our Annual Meetings. We are brainstorming ways to recognize them and get them to our meetings. “We have a good story; we just need to tell it.”

We will also continue three major initiatives critical to NASBP and our industry. The first is government relations pushed by Jack Curtin, Brian Driscoll, and Matt Cashion and ably carried on by Larry McMahon. The purpose is to have NASBP recognized as a leader in government relations. With interaction with other associations such as AGC, ABC, ASA, and CFMA just to name a few.

Second is leadership and perpetuation championed by Craig Hansen. I have asked Craig to continue that important program with Marsh Berry. Perpetuation and leadership are critical to all of us. It is critical that we begin the process of identifying future leaders who will become our future leaders of NASBP. Our membership committee through Carl Dohn is working on a new initiative, which you will hear more about in the future, to recognize and encourage young talent in our association.

The final initiative is professional development: Although we have a very successful educational program with our schools and special education programs such as our Fin 46 Webinar, we are always looking for improvement. Ed Heine has begun that process with the help of Tom Padilla, Ron Metcho, and Bob Shaw. They intend to review our curriculum and our methods of delivery.  This is a very exciting initiative, and one Ed is very committed to.

In addition, in all of our programs we want to continue our great partnership with Lynn Schubert and SAA. I want to invite our surety affiliates and partners to participate in our committees. You bring talent, resources, and balance to what we do. Your support and generosity is appreciated.

My favorite movie is Mary Poppins.  Dick Van Dyke says, “Winds in the east, mist coming in, something is brewing about to begin. Can’t put my finger on what’s in store, but something tells me, it all happened before.” We have been blessed with great past presidents who have pledged to stay involved. Brian Driscoll and Matt Cashion have volunteered to bring the experience and knowledge of our past presidents to current NASBP issues. I plan to call on them to stay involved and use their talents for special projects. These guys remain committed and passionate to our industry, and we will use that talent. I look forward to working with Sarah Finn, Bill Maroney, Todd Loehnert, and Ed Heine on the executive committee. I think you have an excellent leadership team.

I wish to thank my wife, Diane. Without her understanding and encouragement I could not undertake this position. I would especially like to thank Pam Tucker, my partner, and my colleagues at Cory, Tucker & Larrowe, Inc. who will pick up the slack in a very hectic environment since Hurricane Katrina.

Thank you for listening to me. “We have a great story; we just have to tell it.” I will remember, “I must hurry for there you go, and I am your leader.”  I hope to see you at the Regional Meeting. Have a Magical Day!

Steve Cory is President of Cory, Tucker & Larrowe, Inc., in Metairie, LA. He can be reached at scory@ctl-inc.com.

One of the reoccurring themes I heard from producers at the NASBP Annual Meeting was the concern expressed by their clients over construction material price instability and availability. Since 2004, material price volatility and material shortages have been and continue to be significant risk factors for contractors and subcontractors, particularly in fixed-price contracts. Economic reports this April indicated that prices for a number of key construction materials, such as asphalt, diesel fuel, tires, wallboard, steel, copper and roofing materials, have increased significantly, and that some of these, as well as other materials, are in short supply. Recent forecasts also anticipate material price inflation to be much higher than overall inflation in 2006. With the likelihood of increases in the prices of some key construction materials in the near term, it’s worth briefly visiting the subject of material price volatility in construction contracts.

From a legal perspective, seeking retroactive relief for dramatic and unexpected construction material price increases typically is not a winning strategy. As a general principle and in the absence of contract provisions providing otherwise, the risks of price increases are borne by the contractor in fixed-priced contracts. Particularly over the past several years, commentators have written articles examining the efficacy of asserting different legal theories, such as mutual mistake of fact, force majeure, impossibility, and commercial impracticality, to provide recovery or to excuse performance in situations where a contractor, already having in place a fixed-price contract, experiences a sudden, unforeseen price increase that makes performance of the contract, at best, unprofitable and, at worst, threatening to the continued viability of his or her business (See, e.g., Stephen M. Phillips, “Handling volatile material pricing”, Professional Roofing Magazine (February 2005). In such situations, relief is less likely, but, depending on the specific facts and the laws of the particular jurisdiction, not necessarily impossible.

A better strategy, however, is to anticipate the possibility of material price volatility prospectively. In other words, contracting parties can address this risk by becoming aware of pricing trends for different construction materials and by negotiating and including price escalation clauses, also called price adjustment clauses, in their construction contracts. In the current construction environment, such actions seem prudent, especially since few contractors, and even owners, today can argue that they are unaware of the possibility of price volatility in construction materials. Moreover, with price escalation provisions in place, the owner receives a substantial benefit; the owner avoids the inclusion of speculative and significant contingencies on construction materials in the contract price by a conscientious contractor.

Luckily, resources do exist providing you and your clients with information on construction material pricing trends and on sample price escalation provisions. In fact, various public agencies and construction industry entities and organizations have developed model and standard escalation clauses or are tracking information about construction material indices and inflation, or both. Some of these materials are available publicly on the world wide web.

The Federal Government and many state agencies have developed standard price escalation clauses in their procurement regulations. Under the Federal Acquisition Regulation (FAR), contracting officers have the discretion to include “price adjustment” clauses in contracts. One example of a FAR price adjustment clause relevant to the construction context is FAR 52.216-4, Economic Price Adjustment—Labor and Material. This clause permits adjustments based on the actual cost of labor or materials. To view this and other FAR price adjustment clauses, go to the following web address: http://acquisition.gov/far/05-03/html/52_216.html#wp1114654.

An example of a standard adjustment clause for private work is AGC Document No. 200.1, Amendment No. 1, “Potentially Time and Price-Impacted Materials”.  Published in 2004, this document amends the AGC long-form fixed-price construction contract (AGC Document No. 200, 2000 Edition) to permit adjustments in contract time and contract price for price and availability fluctuations in specifically listed construction materials. AGC Document No. 200.1 is available for download as a PDF from the contract documents section of AGC web site (www.agc.org). To read an article explaining this AGC document in more detail go to “AGC Publishes Amendments to Address Material Price Volatility In Fixed-Price Contracts” on pages 6 and 7 of the August 2004 issue of Under Construction, the newsletter of the Forum on the Construction Industry of the American Bar Association at www.abanet.org/forums/construction/publications/.

In addition, the Federal Highway Administration has created a helpful web page at www.fhwa.dot.gov/programadmin/contracts/price.cfm, which lists information on construction cost increases along with links to other relevant resources on the web. The construction economics section of the web site of the Associated General Contractors of America (AGC) also contains helpful information on construction prices. The AGC chief economist publishes and posts regular reports on material pricing trends and on construction inflation at www.agc.org/page.ww?section=Construction+Economics&name=About+Construction+Economics.

There are many more resources on material price increases, but the resources discussed above can help get you and your clients off to a productive start in understanding the impact of such increases and in researching strategies to address them. Of course, you should always remind your clients to have legal counsel review any escalation or adjustment clauses before accepting them or including them in construction contracts. Reminding construction owners of the current and anticipated instability of key material prices and of the need for specific contract language to mitigate such risks can pay dividends for the contractor community.

These materials are provided to NASBP members solely for educational and informational purposes. They are not to be considered the rendering of legal advice in specific cases or to create a lawyer-client relationship. Readers are responsible for obtaining legal advice from their own counsels, and should not act upon any information contained in these materials without such advice.

On May 2, 2006, the Maryland Governor signed into law House Bill 169, which, among other things, amended existing state statutes to permit state procurement officers to accept bid, payment and performance bonds issued by individual sureties. The bill had significant support from Maryland legislators, who viewed the measure as a means to provide minority contractors with access to surety credit.

Under the new law, bonds provided by individual sureties are acceptable as security if the individual surety provides cash or another form of security that is authorized by federal or state regulation or is satisfactory to the agency awarding the contract. The Maryland law then establishes that a “bond provided by an individual surety shall be acceptable” as security in situations where (1) the contractor has been denied corporate surety credit, (2) the individual surety transacts business through an insurance agency licensed by the Maryland Insurance Administration; (3) the individual surety attaches GSA Standard Form 28, Affidavit of Individual Surety, to the bond; (4) the individual surety provides a ”UCC-1 filing security interest” in the individual surety’s pledged assets to the agency awarding the contract; and (5) the individual surety pledges assets in an amount equal to or greater than the aggregate penal amounts of the required bonds. The Maryland law lists the acceptable assets that can be pledged by the individual surety: cash; certificates of deposit; cash equivalents held with a federally insured financial institution or “assets that are evidenced by a security interest, including an irrevocable trust receipt issued by the financial institution or by an independent trustee”; US government securities; stocks and bonds; real property; and irrevocable letters of credit. Under the new law, however, no guidance is provided to procurement officers regarding procedures for evaluating the authenticity of documentation supplied by individual sureties or for independently verifying the existence and availability of assets pledged by individual sureties.

Although the Maryland law makes a general reference to federal regulations with respect to the acceptability of “another form of security” and requires the individual surety to furnish a federal form (GSA Standard Form 28), significant federal requirements governing individual sureties are modified or absent in the Maryland law, a factor which may prove of concern to state procurement officials and to subcontractors deciding whether to extend credit to prime contractors that furnish payment bonds provided by individual sureties. It is worth noting that the federal requirements governing individual sureties were amended and strengthened in 1989 to ameliorate concerns by Congress and federal procurement officials over the unenforceability of surety bonds issued by individual sureties on various federal projects during the 1980s. Such individual surety bond fraud abuses during that period led to substantial losses for the federal government and for small and minority contractors. (For an article discussing these changes and the events leading up to them, see Christine S. McCommas, “New Developments in Fighting Individual Surety Bond Fraud”, Army Lawyer (January 1990) (Department of the Army Pamphlet 27-50-205).)

For example, unlike the federal requirements, specifically Federal Acquisition Regulation 28.203-7, the Maryland law is silent on the circumstances and causes that justify the exclusion of individual sureties, such as failure to disclose all bond obligations, misrepresentation of the value of available assets or outstanding liabilities, or making a false or misleading statement on a bond. Under the federal requirements, excluded individual sureties are placed on a government-wide list, called the List of Parties Excluded from Federal Procurement and Nonprocurement Programs, that federal contracting officers are to consult prior to making contract awards. No such corollary exists under the Maryland law. Likewise, the federal requirements, specifically Federal Acquisition Regulation 28.203, mandate that contracting officers “obtain the opinion of legal counsel as to the adequacy of the documents pledging the assets prior to accepting the bid guarantee and payment and performance bonds.” Again, no such direction is provided in the new Maryland law.

In comparison to the federal requirements, the Maryland law also expands the types of acceptable assets furnished by the individual surety to support its bond obligations, which may increase the burden on state procurement officers to understand and to discern the validity of different pledged assets. For example, federal requirements do not mention the use of an “irrevocable trust receipt” as an acceptable asset. Federal requirements do include “cash equivalents with a federally insured financial institution” as acceptable assets, but the Maryland law goes further by permitting “or assets that are evidenced by a security interest, including an irrevocable trust receipt issued by the financial institution or by an independent trustee”. It is not clear under the wording of the Maryland law whether the irrevocable trust receipt must be issued by a “federally insured financial institution”; however, it is clear that the Maryland law will permit a third party—“an independent trustee” —who is undefined and unregulated under the Maryland law, to issue the irrevocable trust receipt, thereby, in effect, introducing another individual or entity and an administrative layer between the individual surety’s pledged assets and the procurement officer seeking to verify them.

Interestingly, the Maryland law requires the individual surety to submit a federal form, GSA Standard Form 28, Affidavit of Individual Surety, with the bid security. This form is used to obtain a sworn, notarized statement from the individual surety regarding the surety’s assets, liabilities and net worth. As a federal form, Standard Form 28 and its language clearly contemplate that the individual making the sworn statements in the form is doing so to the United States of America, not to another jurisdiction. In fact, part of the boilerplate representation sworn to by the individual surety includes the following wording: “I recognize that statements contained herein concern a matter within the jurisdiction of an agency of the United States and the making of a false, fictitious or fraudulent statement may render the maker subject to prosecution under Title 18, United States Code Sections 1001 and 494. This affidavit is made to induce the United States of America to accept me as surety on the attached bond.” It is unclear whether the legislators understood or considered this fact and any potential implications when requiring the submission of Standard Form 28 by individual sureties under the new Maryland law.

The American Insurance Association (AIA), the Surety Association of America (SAA) and the National Association of Surety Bond Producers (NASBP) provided testimony on House Bill 169 and worked jointly to acquaint legislators with deficiencies contained in the bill and their potential impact on state procuring agencies and on the contracting community, including small and minority contracting businesses. AIA, SAA and NASBP also made considerable efforts to amend the legislation specifically to require regulation of individual sureties by the Maryland Insurance Department or to include better protections for state procuring agencies, procurement officers, and subcontractors, but such efforts largely were met with legislator indifference or opposition.

The new law, which will apply prospectively, will take effect on October 1, 2006 for a period of three years, at which time it will sunset if no further legislative action is taken. During the period of its enactment, the State of Maryland shall study on an annual basis the impact of the new law on small business and minority business enterprises.

The 2006 Annual Meeting in Orlando provided attendees with cutting-edge program topics and an enhanced Expo.  Ed Heine welcomed participants and expanded on his theme of “Creating Our Future Legacy” by emphasizing the importance of creating opportunities for future industry leaders and engaging them in NASBP.

To further highlight the leadership focus, Dr. Michael Useem of the Wharton School at the University of Pennsylvania shared information on when leadership makes the greatest difference, what the leadership capacities are that can make that difference, and his version of a leadership template.  Components of that template include: articulate a vision; specify a strategy; build the team before it is needed; honor and motivate those who work with and for you; clearly convey a strategic intent; convey your character, and reinforce the company’s enduring principles.

The session continued with a panel on “Financial Analysis in the 21^st Century” lead by moderator Patrick Pribyl (Lockton Companies) and William Mills (Zurich NA), David Layman (NAS Surety), and James Owen (Houlihan, Lokey, Howard & Zukin).  Discussion centered on the two sureties sharing their approach to credit scoring and an investment banker looking at businesses from a valuation perspective.

Tuesday’s General Session began with Dick Foss’s presentation highlighting the insights and outlook provided by executives from surety companies, reinsurance companies, reinsurance brokers and NASBP members during the State of the Industry interviews.

Susan Hecker (Gallagher Construction Services), moderator of the “Subcontractor Risk Analysis” panel, and her panelists Doug Pruitt (Sundt Construction), Stan Halliday (St. Paul Travelers), and Eric Wilson (Hensel Phelps Construction) discussed the various types of risks contractors face and how these industry leaders manage those risks.

Disney Institute’s Jeff Noel shared his expertise with the audience in a session entitled “Loyalty, Disney Style.”  His program was based on the thesis that maximum loyalty results from the connection, identity, value, and relationships a company has with its customers/clients and employees.  This very interactive session demonstrated the link between what is promised by the company and the value of lifetime relationships with customers and employees.

On Wednesday morning during the Awards Breakfast, mountain climber Eric Alexander, who assisted his blind friend in climbing Mt. Everest, told his emotional and thrilling story through audio/video clips.  His adventure concluded this year’s Annual Meeting leadership theme on an inspirational note.

Mark your calendars now for April 22 – 25 when the 2007 Annual Meeting & Expo will take place at the JW Marriott Desert Ridge Resort & Spa in sunny Phoenix, AZ.

PASSING

     Joseph McDonald Walker, Sr., died Friday June 9, 2006. He served in World War II in the Air Corps as a fighter pilot and was a prisoner of war in Germany for 14 months. After returning from the war, he worked for Turner Insurance and Bonding Company where he became President and owner until his retirement in 1986. His son, Joseph (Mac) Walker, Jr., continues to be involved with Turner Insurance and Bonding Company.

POSITIONS

     Hilb, Rogal & Hobbs of Chicago, dba, T.J. Adams Group is seeking a Senior Bond Specialist. The position description follows.

Department: Production Units
Position: Senior Bond Specialist            Status:  Exempt

Contact:
Interested candidates should submit their resume to:
Karen A. Kozik, Vice President of Human Resources, via e-mail: kkozik@hrh.com

Job Purpose: 
To provide technical and sales support for the Producers in processing and issuance of surety bonds in accordance with the objectives and procedures outlined by Hilb ,Rogal & Hobbs of Chicago dba T. J. Adams Group.

Organizational Relationships:
Responsible to the Producer. Works with Producers, Account Executives and other unit personnel.

Job Classification:  22

Primary Job Functions and Responsibilities:
1.      Maintain account folders and computer files according to established procedures.
2.      Issue bonds as requested by production units and/or clients.
3.      Process invoices for new, renewal, and cancellation transactions.
4.      Prepare Contractors Questionnaires, General Indemnity Agreements and other documents for submissions.
5.      Market new and renewal business in conjunction with Account Executives and the Producers.
6.      Maintain direct communication with surety company underwriters and insureds on servicing of accounts.
7.      Maintain updated copies of client financial statements – both corporate and personal.
8.      Maintain updated bank Letters of Credit and Work in Progress forms.
9.      Review contracts and agreements for insureds for bonding implications.
10.  Keep informed of industry developments through review of trade press and by attending company-training meetings on new products.
11.  Conduct on-going analyses of accounts.
12.  Perform other duties as required or as instructed by the Account Manager.
13.  Pursue a program for personal and professional development.
14. Uphold and promote the professional and ethical standards of the agency.

Job Specifications:
1.      A high school diploma with a college degree desirable.
2.      Four to five years experience in the bonding industry, with at least 2 years on the agency side.
3.      Above average phone personality and ability to deal with people.
4.     Good computer skills.
5.      Detail oriented with excellent organizational abilities.
6.      Strong knowledge of surety bonding requirements and principles.
7.      Basic technical education necessary and should be pursuing professional courses (ASFB).
8.   Holds Illinois property-casualty insurance agent’s license.

The Americans with Disabilities Act of 1990 prohibits discrimination against qualified individuals with disabilities. The following are the essential functions required of the individual in order to perform the duties of the job with or without reasonable accommodation. 

Essential Physical & Mental Requirements 

The following requirements may change depending on the confines of the workspace available for any required task.

·    Stand, walk, or sit alternately depending on specific daily demands. Estimate 75% of the time is spend sitting and 25% of the time is spent standing or walking.

·   Firm and simple grasping are required when performing most duties.

·   Physically and visually able to utilize the computer, keyboard, printer, CRT, and other office equipment as required. Repetitive wrist and fingering motion is used when entering data into the computer.

·   Has need to perform the following physical activities.

·   Bend/stoop/squat, walk, climb stairs, and kneel 5-25% of the time.

·   Push or pull, and reach above shoulder level, 5-25% of the time.

·   Twist torso, 26-50% of the time.

·   Manual dexterity, eye and hand coordination. 76-100% of the time.

·   Able to communicate and speak in a clear concise and professional manner.

·   Ability to hear, comprehend and follow explicit instructions in order to fulfill clients needs.

·   Mental aspects may include, calculating, comparing, editing, evaluating, interpreting and organizing.

·   On occasion may be required to lift and carry supplies or equipment weighing between 5-25 pounds.

     NAS Surety Group is seeking a Senior Regional Surety Manager to head up its Contract Surety Division-Chicago Branch based in Itasca, IL.

Responsibilities:  The overall responsibility is to manage the day-to-day operations of the regional office. Management responsibilities include approving all contract surety bonds in  excess of the underwriters and regional managers’ authority, managing agency relationships, underwriting, production, staff management, claim reviews and strategic planning for the region.

Requirements:  Bachelor’s Degree in business-related field with an emphasis in Finance or Accounting or equivalent work experience; a minimum of seven years surety underwriting experience of which at least five years experience is current contract surety underwriting. A minimum of three years management/supervisory experience with the ability to negotiate and counsel others. A strong competency in quantitative and financial analysis required along with a proven ability to market for and obtain new business. Must possess excellent interpersonal, written and verbal communication skills and have the ability to manage up to 50% travel, some overnight travel. Proficiency in Excel and Word required.

Contact:  Judith Gazaway, HR Consultant, 630-227-4704; e-mail: judith_gazaway@nassurety.com. Visit our website: www.nassurety.com     Selective Insurance Company of America has opening for a Bond Underwriter in its Hunt Valley, Maryland Office.

Contact:
Interested  candidates should submit their resume to:
Barbara Fragano, Email: Barbara.fragano@selective.com

Position:            Bond Underwriter

Location:           Hunt Valley, MD

Reporting to:     Senior Regional Bond ManagerPurpose of Position:
To evaluate bond accounts submitted by producers, to market all three of our bond products to our producers, and to service/underwrite existing bond accounts.

Description of Position:
A diverse and challenging bond underwriting position involving the development and use of skills necessary to underwrite surety bond accounts. The product lines include contract surety, commercial surety and fidelity. The review of financial statements and financial analysis of contractors and other business entities will be stressed through the use and interpretation of financial-based computer applications.

This position also entails outside marketing.  Agency and account interaction is a critical aspect of this position.

Qualifications (Skills) Required:

·  Experienced individual who has five plus years of bond writing experience; willing to  consider   lesser-experienced individual who has strong finance and accounting background

·  Exceptional time management skills

·  Excellent analytical, oral, and written communication skills

·  Exceptional marketing and customer-relation skills

·  Ability to work independentlyQualifications (Skills) Preferred:

·  Bachelors degree in accounting, finance, or economics or CPCU, AFSB, AAIF, or other designations

·  Previous experience working in a construction environment, accounting, auditing, or banking field

NEW MEMBERS

Aon Risk Services, Inc. of Colorado
4100 East Mississippi Avenue
Suite Suite 1500
Denver, CO 80246
Key Contact:  Leon F. Hill
www.aon.com

Brown & Brown, Inc.
PO Box 2412
Daytona Beach, FL  32115-2412
Key Contact:  Richard A. Freebourn
www.bbinsurance.com

Reynolds & Reynolds Inc.
300 Walnut, Suite 200
Suite 200
Des Moines, IA  50309
Key Contact: Dean Clark
www.reynolds-reynolds.com

NEW AFFILIATE

Arrowhead General Insurance Agency, Inc.
701 B Street, Suite 2100
San Diego, CA  92101
Key Contact:  Ron Ballard
www.arrowheadsurety.com 

REGIONS 10 & 11
The Westin Boston Waterfront Hotel
Boston, MA
(617) 532-4600
September 7 – 9, 2006

REGIONS 1, 2, 3
Fairmont Waterfront Hotel
Vancouver, BC, CANADA
(604) 691-1991
September 14 – 16, 2006

URGENT TRAVEL INFORMATION FOR CANADA

REGIONS 4, 5, 6, 7
The Westin Riverwalk Hotel
San Antonio, TX
(210) 224-6500
October 5 – 7, 2006

The American Institute for Chartered Property Casualty Underwriters (AICPCU) and the Insurance Institute of America (IIA) recently announced the January 2005 – March 2006 Associate in Fidelity and Surety Bonding (AFSB) program completers.

See the list of NASBP’s members and Affiliates who successfully completed the program.

The Surety Information Office (SIO) awarded nine Local Surety Associations (LSAs) with the 2005 Gold and Silver Awards for Excellence in Surety Bond Promotion at NASBP’s annual meeting May 10, 2006, in Orlando, FL.

The Gold Award winners performed at least 10 activities to promote contract surety bonds:

The Silver Award winner performed at least five activities:

• Alabama Surety Association

Activities included speaking engagements or presentations to various audiences including contractors, subcontractors, private project owners, bankers, CPAs, and lawyers; meeting with Legislative offices and policymakers; exhibiting at conferences; publishing articles in professional journals or the press; offering scholarships; volunteering for and sponsoring community events; and teaching courses to construction students.

Five NASBP members and one SAA member were inducted into SIO’s Tiger Trust for convincing private project owners to bond construction jobs costing more than $87.3 million in 2005. The inductees and their projects were:

• David Fortenberry, Stewart Sneed Hewes Inc./The Insurance Center, $13.5 million specialty medical office building on the Hattiesburg Clinic Professional Association main campus in Hattiesburg, MS;
• Paul L. Hayden, National Grange Mutual Insurance Co., $35.3 million Our Lady of Good Counsel High School in Silver Spring, MD;
• J. Kevin Hughes, Gibson Insurance Group, $2.3 million Shipshewana Medical Office Building in Shipshewana, IN;
• Charles E. Reagin III, Wright & Percy Insurance, $36 million NCRA clean fuels refinery in McPherson, KS; and
• John P. Smith of Chubb & Son Inc. in Warren, NJ, $3.5 million St. Bernards Episcopal Church restoration project.

For free SIO materials and information on bonding private projects, visit SIO’s online store.

To view the photo gallery of the awards presentation, visit the SIO Web site.