Rebuttal to “Obscure Insurance That Hurts Small Businesses”, Wall Street Journal

I wish to make you aware of significant concerns that the National Association of Surety Bond Producers (NASBP), a national trade organization of firms employing licensed surety
bond producers placing bid, performance, payment and other types of surety bonds on contracts throughout the United States, has regarding a recent article entitled “Obscure Insurance That Hurts Small Businesses,” authored by Dyan Machan, and published by WSJ.com. We believe that the author miscasts the purpose and function of surety bonding. At best, the portrayal of surety bonding in the article can be considered a “half-truth,” one which distorts the underlying purposes of surety bonding and disregards the protection and value that surety bonds bring to public and private transactions. Such an incomplete article can do little credit to the reputation and standards of the Wall Street Journal/SmartMoney and provides the public with incorrect information about an important product and industry. We request your swift correction.

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