Surety Bond Quarterly - Winter 2017 - 5

Contents

WHAT'S INSIDE
WINTER 2017

14

FEATURES
11

26

Relationships for
the Long Run
NASBP surety bond producers
share ways they cultivate longterm, lasting connections with
their contractor, subcontractor,
and specialty trade clients.

14

Subcontractor Default
Insurance: Relevant
Considerations for the Surety
Claims Professional

Bottom Line Protection
with Job Cost Accumulation
& Allocation
It is important for contractors to
understand how to properly allocate
direct and indirect job costs to
ensure profit realization.

30

Inside the AIA's New
Insurance and Bonding
Contract Exhibit
Todd Regan of Robinson+Cole
provides an analysis of the new
insurance and bonding contract
exhibit with respect to AIA's recent
issuance of revised standard
construction contract forms.

Here are some considerations
for surety claims professionals
regarding subcontractor default
insurance (SDI), detailing
distinctions between SDI and
surety bonds.

33

The Calm After the Storm:
Managing Disaster
Response Contracts
Surety professionals and their
clients should take note of ways
to effectively manage disaster
recovery contracting.

Surety Bond Quarterly
WINTER 2017, VOL. 4, ISSUE 4

www.suretybondquarterly.org

AN OFFICIAL PUBLICATION OF
THE NATIONAL ASSOCIATION OF
SURETY BOND PRODUCERS

Time for
Reflection

ASSESSING THE PRESENT
AND PREPARING FOR THE FUTURE

Lasting Client Relationships
Does SDI Meet a Marketplace Need?
Bottom Line Protection with
Job Cost Accumulation
New AIA Insurance Contract Exhibit
Managing Disaster Response Contracts

35

Practical Tools to Help
Jump-Start Your Company's
Cyber Plan
Part 2 of 2. Everyone needs a
cyberplan. Learn the basic components
of a risk-based data privacy and
cybersecurity program.

DEPARTMENTS
7

NASBP Upcoming
Meetings & Events

7

2017-2018 Executive Committee

9

From the CEO: Looking
Backward to Reach Forward

38

Index to Advertisers

ON THE COVER
WINTER 2017
As the year comes to an end, it is the perfect
time to analyze and learn from our past
successes and challenges, to honestly assess
where we are currently, and to proactively plan
for the challenges and opportunities ahead.
This winter issue of Surety Bond Quarterly
offers surety professionals tools for such
assessments so that the industry will be poised
for successful growth in the New Year.
©ISTOCK.COM.MASTERZPHOTOIS

www.nasbp.org

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: Celio Ramos,
Marketing: Natalia Arteaga, Advertising Director: Doug Smith, Advertising Sales: Amy Gray, Shane Holt, Rick Jones,
Nicholas Manis, Matthew Yates, Chris Zabel, Jason Zawada
Project Support Specialist: Alyssa Woods, Layout & Design: BK Publication Design
©2017 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 NOVEMBER 2017 | SPB-Q0417 | 7121

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 - Winter 2017

NASBP Upcoming Meetings & Events
2017–2018 Executive Committee
From the CEO: Looking Backward to Reach Forward
Relationships for the Long Run
Subcontractor Default Insurance: Relevant Considerations for the Surety Claims Professional
Bottom Line Protection with Job Cost Accumulation & Allocation
Inside the AIA’s New Insurance and Bonding Contract Exhibit
The Calm After the Storm: Managing Disaster Response Contracts
Practical Tools to Help Jump-Start Your Company’s Cyber Plan
Index to Advertisers
Surety Bond Quarterly - Winter 2017 - Intro
Surety Bond Quarterly - Winter 2017 - cover1
Surety Bond Quarterly - Winter 2017 - cover2
Surety Bond Quarterly - Winter 2017 - 3
Surety Bond Quarterly - Winter 2017 - 4
Surety Bond Quarterly - Winter 2017 - 5
Surety Bond Quarterly - Winter 2017 - 6
Surety Bond Quarterly - Winter 2017 - 2017–2018 Executive Committee
Surety Bond Quarterly - Winter 2017 - 8
Surety Bond Quarterly - Winter 2017 - From the CEO: Looking Backward to Reach Forward
Surety Bond Quarterly - Winter 2017 - 10
Surety Bond Quarterly - Winter 2017 - Relationships for the Long Run
Surety Bond Quarterly - Winter 2017 - 12
Surety Bond Quarterly - Winter 2017 - 13
Surety Bond Quarterly - Winter 2017 - Subcontractor Default Insurance: Relevant Considerations for the Surety Claims Professional
Surety Bond Quarterly - Winter 2017 - 15
Surety Bond Quarterly - Winter 2017 - 16
Surety Bond Quarterly - Winter 2017 - 17
Surety Bond Quarterly - Winter 2017 - 18
Surety Bond Quarterly - Winter 2017 - 19
Surety Bond Quarterly - Winter 2017 - 20
Surety Bond Quarterly - Winter 2017 - 21
Surety Bond Quarterly - Winter 2017 - 22
Surety Bond Quarterly - Winter 2017 - 23
Surety Bond Quarterly - Winter 2017 - 24
Surety Bond Quarterly - Winter 2017 - 25
Surety Bond Quarterly - Winter 2017 - Bottom Line Protection with Job Cost Accumulation & Allocation
Surety Bond Quarterly - Winter 2017 - 27
Surety Bond Quarterly - Winter 2017 - 28
Surety Bond Quarterly - Winter 2017 - 29
Surety Bond Quarterly - Winter 2017 - Inside the AIA’s New Insurance and Bonding Contract Exhibit
Surety Bond Quarterly - Winter 2017 - 31
Surety Bond Quarterly - Winter 2017 - 32
Surety Bond Quarterly - Winter 2017 - The Calm After the Storm: Managing Disaster Response Contracts
Surety Bond Quarterly - Winter 2017 - 34
Surety Bond Quarterly - Winter 2017 - Practical Tools to Help Jump-Start Your Company’s Cyber Plan
Surety Bond Quarterly - Winter 2017 - 36
Surety Bond Quarterly - Winter 2017 - 37
Surety Bond Quarterly - Winter 2017 - Index to Advertisers
Surety Bond Quarterly - Winter 2017 - cover3
Surety Bond Quarterly - Winter 2017 - cover4
https://www.nxtbook.com/naylor/SBPQ/SBPQ0118
https://www.nxtbook.com/naylor/SBPQ/SBPQ0417
https://www.nxtbook.com/naylor/SBPQ/SBPQ0317
https://www.nxtbook.com/naylor/SBPQ/SBPQ0217
https://www.nxtbook.com/naylor/SBPQ/SBPQ0117
https://www.nxtbook.com/naylor/SBPQ/SBPQ0416
https://www.nxtbook.com/naylor/SBPQ/SBPQ0316
https://www.nxtbook.com/naylor/SBPQ/SBPQ0216
https://www.nxtbook.com/naylor/SBPQ/SBPQ0116
https://www.nxtbook.com/naylor/SBPQ/SBPQ0415
https://www.nxtbook.com/naylor/SBPQ/SBPQ0315
https://www.nxtbook.com/naylor/SBPQ/SBPQ0215
https://www.nxtbook.com/naylor/SBPQ/SBPQ0115
https://www.nxtbook.com/naylor/SBPQ/SBPQ0414
https://www.nxtbook.com/naylor/SBPQ/SBPQ0314
https://www.nxtbook.com/naylor/SBPQ/SBPQ0214
https://www.nxtbookmedia.com