The NASBP & SFAA Surety Industry Awards recognize surety professionals and local surety associations for promoting the value and protections of contract surety bonds in construction to non-surety audiences and for advocating on behalf of the surety industry to obligees and legislators.

Winners of the Gold, Silver, and Advocacy awards were recently announced. The winners will be recognized at the 2023 NASBP Annual Meeting & Expo and the 2023 SFAA Annual Meeting.

The Gold Award is given to Local Surety Associations (LSAs) that conduct at least ten public relations and educational activities in a calendar year that promote the use of contract surety bonds in construction to non-surety, non-insurance, or non-lawyer audiences. Two LSAs were honored this year:

Florida Surety Association made educational presentations to government officials and contractors, covering topics such as the process and benefits of bonding, subcontractor prequalification, growing bonding capacity, bonding requirements to work with county governments, and more.

Surety Association of Ohio (SAO) held several multi-week educational programs for minority contractors. SAO members also presented webinars and joined a podcast about the importance of bonding for other contractor groups.

The Silver Award is given to LSAs that conduct at least five public relations and educational activities in a calendar year that promote the use of contract surety bonds in construction to non-surety, non-insurance, or non-lawyer audiences. One LSA was honored this year:

Surety Association of Arizona made educational presentations to contractors and students about the benefits of bonding and qualifying for surety credit.

The Advocacy Award recognizes LSAs that conduct significant activities advocating for suretyship, other than public relations or educational activities, such as fighting legislative efforts to waive bonds or increase bond thresholds or advocating for reasonable bond forms. One LSA was honored this year:

Florida Surety Association contacted state legislative offices, city government departments, and a private owner regarding member concerns, such as onerous language in bond forms, extended bonded obligations, Florida statute of repose, A.M. Best rating requirements, and more.