bookmark_borderNews Release: The Surety & Fidelity Association of America Elects Board Members and President

FOR IMMEDIATE RELEASE
Contact: Bryan Surcouf, Communications Manager
Phone: (202) 778-3629
E-mail: [email protected]

The Surety & Fidelity Association of America Elects Board Members and President
Taylor Re-Elected Chair; Covington Elected President

MAY 20, 2019, WASHINGTON, D.C.? The Surety & Fidelity Association of America (SFAA) elected its executive committee, board of directors and president at the 111th Annual Meeting held in Washington, D.C. on May 16.

Larry Taylor was re-elected as Chair of the Board. Mr. Taylor is the President of Merchants Bonding Company Group. He joined Merchants Bonding Company TM in 1989 and became the company?s President in 1996.

John Welch was re-elected to Vice Chair of the Board of Directors. Mr. Welch has been President and Chief Executive Officer of CNA Surety Corp., an affiliate of CNA Financial Corporation, since June 17, 2003.

Also elected to the Executive Committee were:
Bob Murray, Executive Vice President & Head of Surety, Zurich North America
Stephen Ruschak, President & Chief Executive Officer, The Guarantee Company of North America USA
Thomas M. Kunkel, President, Bond & Specialty Insurance, The Travelers Companies
Tim Mikolajewski, President of Global Surety, Liberty Mutual Group

In addition to those companies, representatives from SFAA member companies elected to serve on the Board include:
John Phinney, Chief Underwriting Officer, AIG Property Casualty
Stephen Haney, President, North American Surety, Chief Underwriting Officer for Global Surety, Chubb Surety
Gary T Dunbar, President, Bond Division, Great American Insurance Group
James Kawiecki, President, Hanover Surety, The Hanover Insurance Group
Rick Ciullo, Chief Operating Officer, Hartford Bond, The Hartford Insurance Group
Nancy Giardano-Ramos, Vice President, Head of Bonds, Main Street America Group
John Knox, Jr., Chairman & Chief Executive Officer, Markel Surety Corporation
Antonio C. Albanese, Vice President- Head of Surety, Nationwide Mutual Insurance Company
Alan Pavlic, President & Chief Operating Officer, Old Republic Surety Company
Steve Anderson, Senior Vice President, Head of North American Surety, Swiss Re Corporate Solutions
Dennis Baus, National Surety Leader, Westfield Insurance Group

Shawn Lynch, Senior Vice President, Transatlantic Re, also was elected as the reinsurance representative on the Board.

J. Lee Covington II was elected as SFAA President.

###

The Surety & Fidelity Association of America (SFAA) is a trade association of more than 425 insurance companies that write 98 percent of surety and fidelity bonds in the U.S. SFAA is licensed as a rating or advisory organization in all states and it has been designated by state insurance departments as a statistical agent for the reporting of fidelity and surety experience.


View PDF version

bookmark_borderNew Bonding Opportunities posted for Members

New bonding opportunities enacted in the state legislature that may be
of interest to SFAA members has been posted. The report is divided by
line of business: contract surety, commercial surety, and fidelity bonds.
For your reference, we have included the date of enactment for each
bill. SFAA updates this list periodically as new bonding opportunities
are enacted. 

Access the New Bonding Opportunities now


bookmark_borderPreliminary 2018 Top 100 Reports posted

  

The Preliminary 2018 Top 100 Reports have been posted for Members and Subscribers.

Use the following links  Surety / Fidelity or navigate to Statistics / Statistical Reports: Financial Statement Data / Top 100 from the menu.

Non-Members may purchase these reports by completing a Statistical Report Order Form. Click here for a complete list, description, and release schedule of statistical reports.

The data used to produce these reports have been compiled by both The Surety
& Fidelity Association of America and SNL Financial LC, and is copyrighted
by both The Surety & Fidelity Association of America and SNL Financial LC.
Reproduction in any form in whole or in part is prohibited without written
permission from The Surety & Fidelity Association of America.


 

bookmark_borderColorado Enacts P3 Bonding Requirements

Colorado Enacts P3 Bonding Requirements

 Bill Provides Additional Protections for Workers, Businesses and Taxpayer Money

 

April 18, 2019, Washington, D.C. ? Colorado Governor Jared Polis has now signed SB 138 into law. The bill amends Colorado law to clarify that current surety bonding requirements for public construction projects apply to public-private partnership construction projects.

?Requiring surety bonds on P3 construction projects greatly reduces the risk of leaving taxpayers on the hook in the event of a contractor default, ensures projects are completed, and protects subcontractors, suppliers and workers,? says SFAA President Lee Covington. ?When surety bonding protections are in place, everyone wins.?

P3s provide a new method of financing for public infrastructure projects. A P3 is a way for governments and agencies to access the capital market, but the construction risk remains the same. Research shows more than one out of four contractors fail. Surety bonds significantly increase the likelihood that a construction contract will be completed, and that subcontractors, suppliers and workers will be paid. No matter the project delivery method, surety bonds help public agencies assess and minimize their risk.

For more information on the value of surety bonds, visit www.surety.org.

###

The Surety & Fidelity Association of America (SFAA) is a trade association of more than 425 insurance companies that write over 98 percent of surety and fidelity bonds in the U.S. SFAA is licensed as a rating or advisory organization in all states and it has been designated by state insurance departments as a statistical agent for the reporting of fidelity and surety experience.

bookmark_borderSurety & Fidelity Weekly newsletter

The Surety & Fidelity Weekly newsletter is published every Monday. The newsletter provides valuable information regarding surety and fidelity industry developments, federal and state legislative activity, legal decisions, new bonding opportunities, regulatory news, upcoming industry events, and much more.


2019: June 10

  • Success: SFAA-NASBP Legislative Fly-In
  • LSA Spotlight: Surety Association of Ohio
  • Texas Legislature Passes ?Right to Repair? Bill for Construction Defects
  • Minnesota Repeals Bond Required for Fuel Distributors and Special Fuel Dealers
  • Reminder: Call for Data

View older Newsletters