Surety Bond Quarterly - Fall 2016 - 5


Contents

WHAT'S INSIDE
FALL 2016

10

FEATURES
10

Practical Insights:
A Contractor's Risk
Management Portfolio
Should Include a
Commercial Crime Policy
Learn how contractors
are shifting their risk
management policies
to comprehensively
face security threats.

14

Rethinking the Change
Order Process: NECA
Foundation's Guidelines
Offer New Approach,
Substantially Reducing
Change Order Costs
Read about how
NECA Foundation's
Guidelines propose
dramatically changing
the cost-effectiveness
of ongoing projects and
decreasing processing time.

Surety Bond Quarterly
FALL 2016, VOL. 3, ISSUE 3

AN OFFICIAL PUBLICATION OF
THE NATIONAL ASSOCIATION OF
SURETY BOND PRODUCERS

www.suretybondquarterly.org

FINDING

DIRECTION

The Right Info for Producers and Clients

Commercial Crime
Insurance Essentials
Rethinking the Change
Order Process

NASBP

Part 2 of Underwriting
Subdivision Bonds

tory:
Resource Direc tes,
Members, Affilia
Associates
Inside!
www.nasbp.org

17

Six Considerations in
Underwriting Subdivision
Bonds (Part 2 of 2)

24

Read part two in
this series outlining
important considerations
in underwriting
subdivision bonds.

20

Affirmative Action and the
Office of Federal Contract
Compliance Programs:
What Surety Professionals
and Their Contractors
Should Know
Affirmative action and
increasing equal opportunity
requirements pose new
business risks for contractors.

Learn about what surety
data standards are and
what role they play in
shaping your business.

27

Knowledge transfer and building a shared perspective is
critical to the relationship the bond producer maintains with
his or her client. Successful bond producers know that they
make significant differences in their advisory roles with client
companies in other areas, in addition to obtaining bonding
credit, such as market intelligence, best practices, succession
planning, risk identification and management, and insurance
considerations. The bond producer may be called on for
advice in many different business areas, so being curious
and acquiring knowledge in areas of importance to clients is
critical. This issue covers a number of subjects likely to be of
interest to the clients of surety professionals.

2016 NASBP
Resource Directory
Review a compilation of
NASBP specialist firms that
help construction and other
businesses qualify for and
maintain surety credit.

DEPARTMENTS
7

NASBP Upcoming
Meetings & Events

7

2016-2017 Executive
Committee

8

From the CEO: Success
Comes with Sharing
Perspective and Knowledge

ON THE COVER
FALL 2016

Surety Data Standards:
What are They, and Why
Should Surety Professionals
Care about Them?

42

Index to Advertisers

View this issue, past issues
and Web-exclusive content
online anytime at
www.suretybondquarterly.org.

Surety Bond Quarterly is brought to you by the National Association of Surety Bond Producers, 1140 19th St., NW, Suite 800,
Washington, DC 20036-5104; Phone: 202.686.3700; Fax: 202.686.3656; www.nasbp.org. NASBP Manager: Kathy Jo Mapes Hoffman
Published by: Naylor Association Solutions, 5950 NW 1st Place, Gainesville, FL 32607; Phone: 800.369.6220; Fax: 352.331.3525;
www.naylor.com. Publisher: Heidi Boe, Editor: Tamára Perry-Lunardo, Project Manager: Douglas Swindler,
Marketing: Elise Nguyen, Advertising Director: Doug Smith, Advertising Sales: Shane Holt, Rick Jones,
Mike Kesselring, Nicholas Manis, Jamie Williams, Jason Zawada, Layout & Design: Pankaj Kumar Bharti
©2016 NASBP. All rights reserved. The contents of this publication may not be reproduced by any means, in whole or in part,
without the prior written consent of NASBP.
PUBLISHED SEPTEMBER 2016 * SBP-Q0316 * 2825

NATIONAL ASSOCIATION OF SURETY BOND PRODUCERS | WWW.NASBP.ORG

5


http://www.suretybondquarterly.org http://www.nasbp.org http://www.suretybondquarterly.org http://www.nasbp.org http://www.naylor.com http://WWW.NASBP.ORG

Table of Contents for the Digital Edition of Surety Bond Quarterly - Fall 2016

NASBP Upcoming Meetings & Events
2016-2017 Executive Committee
From the CEO: Success Comes with Sharing Perspective and Knowledge
Practical Insights: A Contractor’s Risk Management Portfolio Should Include a Commercial Crime Policy
Rethinking the Change Order Process: NECA Foundation’s Guidelines Offer New Approach, Substantially Reducing Change Order Costs
Six Considerations in Underwriting Subdivision Bonds (Part 2 of 2)
Affirmative Action and the Office of Federal Contract Compliance Programs: What Surety Professionals and Their Contractors Should Know
Surety Data Standards: What are They, and Why Should Surety Professionals Care about Them?
2016 NASBP Resource Directory
Index to Advertisers
Surety Bond Quarterly - Fall 2016 - cover1
Surety Bond Quarterly - Fall 2016 - cover2
Surety Bond Quarterly - Fall 2016 - 3
Surety Bond Quarterly - Fall 2016 - 4
Surety Bond Quarterly - Fall 2016 - 5
Surety Bond Quarterly - Fall 2016 - 6
Surety Bond Quarterly - Fall 2016 - 2016-2017 Executive Committee
Surety Bond Quarterly - Fall 2016 - From the CEO: Success Comes with Sharing Perspective and Knowledge
Surety Bond Quarterly - Fall 2016 - 9
Surety Bond Quarterly - Fall 2016 - Practical Insights: A Contractor’s Risk Management Portfolio Should Include a Commercial Crime Policy
Surety Bond Quarterly - Fall 2016 - 11
Surety Bond Quarterly - Fall 2016 - 12
Surety Bond Quarterly - Fall 2016 - 13
Surety Bond Quarterly - Fall 2016 - Rethinking the Change Order Process: NECA Foundation’s Guidelines Offer New Approach, Substantially Reducing Change Order Costs
Surety Bond Quarterly - Fall 2016 - 15
Surety Bond Quarterly - Fall 2016 - 16
Surety Bond Quarterly - Fall 2016 - Six Considerations in Underwriting Subdivision Bonds (Part 2 of 2)
Surety Bond Quarterly - Fall 2016 - 18
Surety Bond Quarterly - Fall 2016 - 19
Surety Bond Quarterly - Fall 2016 - Affirmative Action and the Office of Federal Contract Compliance Programs: What Surety Professionals and Their Contractors Should Know
Surety Bond Quarterly - Fall 2016 - 21
Surety Bond Quarterly - Fall 2016 - 22
Surety Bond Quarterly - Fall 2016 - 23
Surety Bond Quarterly - Fall 2016 - Surety Data Standards: What are They, and Why Should Surety Professionals Care about Them?
Surety Bond Quarterly - Fall 2016 - 25
Surety Bond Quarterly - Fall 2016 - 26
Surety Bond Quarterly - Fall 2016 - 2016 NASBP Resource Directory
Surety Bond Quarterly - Fall 2016 - 28
Surety Bond Quarterly - Fall 2016 - 29
Surety Bond Quarterly - Fall 2016 - 30
Surety Bond Quarterly - Fall 2016 - 31
Surety Bond Quarterly - Fall 2016 - 32
Surety Bond Quarterly - Fall 2016 - 33
Surety Bond Quarterly - Fall 2016 - 34
Surety Bond Quarterly - Fall 2016 - 35
Surety Bond Quarterly - Fall 2016 - 36
Surety Bond Quarterly - Fall 2016 - 37
Surety Bond Quarterly - Fall 2016 - 38
Surety Bond Quarterly - Fall 2016 - 39
Surety Bond Quarterly - Fall 2016 - 40
Surety Bond Quarterly - Fall 2016 - 41
Surety Bond Quarterly - Fall 2016 - Index to Advertisers
Surety Bond Quarterly - Fall 2016 - cover3
Surety Bond Quarterly - Fall 2016 - cover4
Surety Bond Quarterly - Fall 2016 - outsert1
Surety Bond Quarterly - Fall 2016 - outsert2
Surety Bond Quarterly - Fall 2016 - outsert3
Surety Bond Quarterly - Fall 2016 - outsert4
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