NASBP Mid-Year Meeting Sets Groundwork for Initiatives to Launch in 2014
    
At the Mid-Year meeting last month, the NASBP Board approved several initiatives that will launch in 2014 and that will advance the Association and industry in the years to come.

New Ex Officio Position Will Represent Young Surety Professionals

As part of the Board’s continuing efforts to involve and prepare young surety professionals in the Association to eventually lead the industry, the NASBP Board approved having an Ex Officio to serve on the Executive Committee drawn from the NASBP 5-15 Leadership Circle Committee. The Ex Officio will participate in the Executive Committee’s monthly conference calls held to discuss the Association’s affairs. By adding this Ex Officio representative to the NASBP Executive Committee, the Executive Committee will benefit from having the perspective of a young leader when making decisions regarding the Association’s future directions. In turn, the new Ex Officio, who will represent the 5-15 Leadership Circle, will benefit from insight he or she will gain on how NASBP addresses the gamut of issues arising from protecting the surety product and advancing the Association. Andrew Tokasz will serve in this new Ex Officio position representing the 5-15 Leadership Circle.

New NASBP International Committee Formed

In addition, the NASBP Board approved a new Committee, the International Committee, to focus on issues associated with surety professionals providing bonding to U.S. clients working in other countries and to foreign clients seeking work in the U.S. I was pleased that numerous members volunteered to lead and serve on the International Committee. I have appointed Jeffrey Reich to Chair the International Committee and formalize the Committee’s mission and initial objectives. Creation of this new Committee is just one of the many positive changes NASBP will be making in 2014 to assist the membership in bonding their construction clients and in advancing the surety product.

Productive Discussions at NASBP/SFAA Joint Meeting

Other items were discussed at the NASBP Mid-Year Board meeting. For example, during the NASBP/SFAA joint meeting held in conjunction with the NASBP Mid-Year, the SFAA Executive Committee and the NASBP Executive Committee discussed how to improve educating the industry and the public about the claims process and how to enhance the role of the Surety Information Office (SIO) in providing and disseminating information about our product. An outcome from that discussion was the SIO Policy Board’s appointment of a task force composed of three NASBP members and three SFAA members that will review the SIO website, mission, and products to assure that they are timely and effective in our mission of preserving, protecting, and promoting our product. I felt that the joint meeting was very productive.

Review of the Current NASBP Dues Structure

Another important issue discussed at the Mid-Year was the NASBP dues structure. NASBP dues have not been changed for Members since 2007 and for Affiliates since 2003. The Executive Committee has appointed a Dues Task Force to research over the next few months the current NASBP dues structure including how dues are computed and the current tiers of dues for Members and Affiliates. No changes have been made to the current NASBP dues structure for 2014 and no action with regard to changing NASBP dues will take place until the Dues Task Force provides a report to the Board about the findings and conclusions of its research. The Dues Task Force report is due to the Board at the NASBP Board meeting held in April in conjunction with the 2014 NASBP Annual Meeting.

The NASBP Board has tasked the Dues Task Force with exploring proposed scenarios of dues increases and of dues decreases based on premiums, volume, and other factors and with describing the financial impact on the Association. As part of the research, the Dues Task Force is contemplating distributing an online survey that would be sent to the NASBP membership. In the meantime, the Board welcomes the membership’s feedback and solutions, which will be shared with the Dues Task Force members. Please let me know of your suggestions.

Other Events at the Mid-Year

At the Mid-Year Board Meeting, the NASBP Board members had the opportunity to personally welcome General Counsel Martha Perkins. During her report to the Board, Perkins described the projects she has undertaken and ways she has responded to members’ requests for assistance since she started in July at NASBP as in-house General Counsel. In addition, the Board recognized Tom Durkin (pictured) for his outstanding leadership the past three years as Chair of the NASBP Professional Development Committee. The Executive Director of the U.S. Hispanic Construction Association (UHCA), Frank Lopez (pictured), provided the Board with a presentation on the growing demographics of Hispanic contractors, which was followed by a discussion of how NASBP and the UHCA could liaison to advance mutual goals.

I hope you and your family have a safe and fun holiday!

Sincerely,

Lawrence F. McMahon
NASBP President

Lawrence F. McMahon is Executive Vice President/Surety Manager of Alliant Insurance Services, Inc. in San Diego, CA. He can be reached at lmcmahon@alliantinsurance.com.