Springboarding from a concept offered by NASBP General Counsel Martha Perkins, NASBP Attorney Advisory Council participant Todd Braggins, Managing Partner of the Ernstrom & Dreste, LLP law firm, collaborated with Perkins to develop a robust panel discussion given at the Annual Meeting of the National Bond Claims Association, October 13-15, in Pinehurst, NC. The two-part discussion focused on: (1) how to successfully build a claims team, including the bond producer and principal, and collaboratively resolve claims to mitigate and minimize loss and expense; and (2) how the subcontract bond obligee and bond producer each view the surety product, given other market options (subcontractor default insurance (SDI)).

The participants on the panel included, from left to right in the photo, moderator Braggins; Dennis O’Neill, President of Beacon Consulting Group, Inc.; Scott Olson, Vice President and Director of Contractor Support Services, Market Surety; Chad Melroy, Director of Surety and Fidelity, Alan Gray, LLC; Emily Brennan, Assistant Vice President of Surety, HMS Insurance Associates, Inc.; and Jim Thompson, Senior Vice President & General Counsel, Harkins Builders, Inc.

Both Brennan and Thompson, as producer and contractor, respectively, came out strongly in favor of bonds over SDI as the preferred product and finished by reminding everyone that the product is only as good as those who sell, service, and adjust the claims.

The presentation was very well received, and the viewpoint of the bond producer and principal/obligee was interesting for all. Many positive remarks followed the presentation.