Surety Bond Quarterly - Fall 2017 - 17

producer's help is needed? The most
important action is not waiting until
that day before reaching out to the
producer. Many sureties are making a deliberate push to reach out
to producers and begin developing
relationships with them before their
principal defaults and the claims
begin cascading in. The underwriters have somewhat paved the way
as they have cultivated relationships
with the producers over time. Some
sureties have started using these
existing relationships to introduce
claims representatives to producers
once or twice a year to discuss issues
commonly arising in the industry and
how these issues can be handled on
the front end to minimize loss to the
principal and surety. This is a smart
idea, as it is beneficial to the producer
in advising its client, the principal,
but also opens the lines of communication between the surety and the
producer before a default occurs.
Ultimately, the more the producer
knows about the surety industry and
the better the relationships develop
between producers and surety
professionals, the greater success
both the surety and the principal/
indemnitors will have in minimizing
loss. Hopefully, the above anecdotal
examples of the effect of the producer
on the surety as it navigates claims
arising from troubled projects will
spur more discussion between sureties and bond producers, whose value
is often overlooked.
●

financial institution, public official,
and conservatorship/guardianship
bond carriers on disputes involving
their principals and insureds. He can
be reached at ataylor@kfplaw.com or
601.968.6710.
Bryan Badeaux, an associate in the
Plano, TX office of Krebs Farley, PLLC,
is a co-author of this article. His practice focuses primarily on the representation of sureties in the handling
of payment and performance bond

claims, the interpretation of the bond
rights of laborers and materialmen
under the Miller Act and various state
public and private works acts, and
the institution of indemnity actions
against defaulting principals. Prior
to joining Krebs Farley, Badeaux
worked for five years at International
Fidelity Insurance Company as
Senior Claims Counsel for the
Southern Claims Division. He can be
reached at bbadeax@kfplaw.com or
214.945.3026.

Alec M. Taylor is a partner in the
Jackson, MS office of the law firm
of Krebs Farley, PLLC. He has a
broad litigation background, including complex commercial litigation,
insurance defense, and construction
litigation. Taylor primarily focuses
his practice on the representation of
sureties in the handling of payment
and performance bond claims, the
interpretation of the bond rights of
laborers and materialmen under the
Miller Act and various state public
and private works acts, and the institution of indemnity actions against
defaulting principals. He also has
extensive experience representing
NATIONAL
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Table of Contents for the Digital Edition of Surety Bond Quarterly - Fall 2017

NASBP Upcoming Meetings & Events
2017–2018 Executive Committee
From the CEO: Advice for the Advisor!
How Can Construction Contractors Expedite Payment on Federal Contracts?
The Growing Importance of the Bond Producer in the Efficient Resolution of Claims
Practical Tools to Help Jump-Start Your Company’s Cyber Plan
Bond Agency Owners: The Hardest Part is Letting Go
New Software Selection and Implementation is not a Weekend Project
Is Canada Soon to Have Its Version of the Miller Act?
2017 NASBP Resource Directory
Surety Bond Quarterly - Fall 2017 - Intro
Surety Bond Quarterly - Fall 2017 - cover1
Surety Bond Quarterly - Fall 2017 - cover2
Surety Bond Quarterly - Fall 2017 - 3
Surety Bond Quarterly - Fall 2017 - 4
Surety Bond Quarterly - Fall 2017 - 5
Surety Bond Quarterly - Fall 2017 - 6
Surety Bond Quarterly - Fall 2017 - 2017–2018 Executive Committee
Surety Bond Quarterly - Fall 2017 - 8
Surety Bond Quarterly - Fall 2017 - From the CEO: Advice for the Advisor!
Surety Bond Quarterly - Fall 2017 - How Can Construction Contractors Expedite Payment on Federal Contracts?
Surety Bond Quarterly - Fall 2017 - 11
Surety Bond Quarterly - Fall 2017 - 12
Surety Bond Quarterly - Fall 2017 - 13
Surety Bond Quarterly - Fall 2017 - The Growing Importance of the Bond Producer in the Efficient Resolution of Claims
Surety Bond Quarterly - Fall 2017 - 15
Surety Bond Quarterly - Fall 2017 - 16
Surety Bond Quarterly - Fall 2017 - 17
Surety Bond Quarterly - Fall 2017 - Practical Tools to Help Jump-Start Your Company’s Cyber Plan
Surety Bond Quarterly - Fall 2017 - 19
Surety Bond Quarterly - Fall 2017 - 20
Surety Bond Quarterly - Fall 2017 - Bond Agency Owners: The Hardest Part is Letting Go
Surety Bond Quarterly - Fall 2017 - 22
Surety Bond Quarterly - Fall 2017 - 23
Surety Bond Quarterly - Fall 2017 - 24
Surety Bond Quarterly - Fall 2017 - 25
Surety Bond Quarterly - Fall 2017 - New Software Selection and Implementation is not a Weekend Project
Surety Bond Quarterly - Fall 2017 - 27
Surety Bond Quarterly - Fall 2017 - 28
Surety Bond Quarterly - Fall 2017 - 29
Surety Bond Quarterly - Fall 2017 - Is Canada Soon to Have Its Version of the Miller Act?
Surety Bond Quarterly - Fall 2017 - 31
Surety Bond Quarterly - Fall 2017 - 32
Surety Bond Quarterly - Fall 2017 - 2017 NASBP Resource Directory
Surety Bond Quarterly - Fall 2017 - 34
Surety Bond Quarterly - Fall 2017 - 35
Surety Bond Quarterly - Fall 2017 - 36
Surety Bond Quarterly - Fall 2017 - 37
Surety Bond Quarterly - Fall 2017 - 38
Surety Bond Quarterly - Fall 2017 - 39
Surety Bond Quarterly - Fall 2017 - 40
Surety Bond Quarterly - Fall 2017 - 41
Surety Bond Quarterly - Fall 2017 - 42
Surety Bond Quarterly - Fall 2017 - 43
Surety Bond Quarterly - Fall 2017 - 44
Surety Bond Quarterly - Fall 2017 - 45
Surety Bond Quarterly - Fall 2017 - 46
Surety Bond Quarterly - Fall 2017 - cover3
Surety Bond Quarterly - Fall 2017 - cover4
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