Surety Bond Quarterly - Fall 2015 - (Page 8)

From the CEO Gearing Up With Resources: Forms, Opinions & Risk Management Practices Significant activity in the form of the development of standard form construction documents has taken place this year. The principal trade association purveyors of such forms, like the American Institute of Architects, ConsensusDocs, and the Design-Build Institute of America, have been active, issuing new documents that will impact the interests of countless contract parties, who use such forms as invaluable resources to provide equitable starting points for transaction. Much of these efforts has centered on documents reflecting the changing roles and new opportunities in the design and construction procurement arenas. The last issue of the Surety Bond Quarterly spotlighted the recently released design-build agreements published by the American Institute of Architects (AIA). In this issue, Robin Banks, an attorney with the law firm of Goldberg & Banks, P.C., who serves as an outside legal consultant to AIA, looks at AIA's new teaming agreement, as teaming strategies are a growing presence in the procurement landscape as firms seek to combine their different strengths and capabilities to pursue contract awards. Bill Quatman, General Counsel to Burns & McDonnell Engineering Co. and chair of the Design-Build Institute of America's (DBIA) Documents Committee, provides a bird's-eye view of DBIA's first set of bond forms for its design-build agreements. The surety industry, through participation by NASBP and by the Surety & Fidelity Association of America, maintains regular involvement in the document development efforts of AIA, ConsensusDocs, DBIA, and other prominent trade and professional associations, and provided extensive feedback and comments to DBIA during the development of its bond forms. In another article, Brian Perlberg, Executive Director and Senior Counsel of ConsensusDocs, discusses some of the unique approaches ConsensusDocs takes in its agreements to certain key matters, such as owner-directed changes, financial information, and retainage. The growing preference by project owners for realizing projects through expanded pre-construction services or through single-point responsibility of design and construction services also is having repercussions for the 8 SURETY BOND QUARTERLY | FALL 2015 need for construction firms to obtain professional liability policies. This issue contains two articles that emphasize the importance of professional liability insurance coverage in the risk management practices of construction firms. Mike Zisa and Warren Friedman, attorneys with the law firm of Peckar & Abramson, P.C., spotlight a recent decision by a court in Massachusetts that found that a construction manager at-risk assumed extensive design liability through its construction management responsibilities pertaining to design. Frank Musica, senior risk management attorney at Victor O. Schinnerer & Co., profiles the current state of professional liability insurance policies for construction firms, stressing their importance in a proper risk management portfolio. In this issue's "Practical Insights: What You Need to Know," Mike Zisa recounts ten important points for surety professionals to impart to clients about the shifting sands of the current federal procurement environment. This also is the first issue that includes bonus coverage of important risk management and technology matters through additional articles on the magazine's related website, In an age of increasing incidences of computer hacking and identity theft, no business can take safeguarding sensitive client data and information against loss or misappropriation lightly. Dan Bonnet, Director at Dell SecureWorks, addresses recently issued guidance to insurers and producers on effective cybersecurity for client information. Another article relates the momentous work that is being done by volunteers of NASBP, the Surety & Fidelity Association of America, and the Association for Cooperative Operations Research and Development, better known as ACORD in insurance circles, to develop standardized electronic versions of all surety forms, thereby expediting and making more efficient data collection and exchange efforts by producers. As it is the fall issue, this issue of Surety Bond Quarterly contains an at-your-fingertips directory of all NASBP member, affiliate, and associate firms domestically and internationally, a printed resource that no doubt will be of great benefit to anyone interested in or searching for surety bonding and construction accounting assistance. Please enjoy all the information and resources that this issue of Surety Bond Quarterly and that place at your disposal. ● Warm regards, Mark McCallum NASBP CEO

Table of Contents for the Digital Edition of Surety Bond Quarterly - Fall 2015

2015-2016 Executive Committee
NASBP Upcoming Meetings & Events
From the CEO - Resources: Forms, Opinions & Risk Management Practices
Practical Insights: What You Need to Know - Key Takeaways
Alternative Project Delivery, Alternative Risks
Contractors in a New Age of Product Delivery - Sharing Design Liability
DBIA Releases New Bond Forms for Design-Build Projects
AIA’s New Teaming Agreement: AIA Document C102TM–2015
ConsensusDocs Contracts Help Ensure Smooth Sailing
NASBP’s Seven Virtual Seminars on Leadership
Guidance in Addressing Ethical Dilemmas
Web-Exclusive Features
2015 NASBP Resource Directory
Index to Advertisers

Surety Bond Quarterly - Fall 2015