Surety Bond Quarterly - Winter 2017 - 9

From the CEO

Advice for the Advisor!

"YESTERDAY IS NOT
OURS TO RECOVER,
BUT TOMORROW
IS OURS TO WIN
OR LOSE."
- President Lydon B. Johnson

Winter marks the culmination of one
calendar year and the start of another
year. Not so far back in our history,
people prepared for many months
for the approach of the winter season, storing food, mending the home,
cutting and stacking wood for fuel
for the hearth, among other sorts of
preparation for the long, dark season
and the transition to springtime. The
quiet of winter also gave individuals,
at least the ones well prepared for its
onset, time to slow down and time for
reflection and assessment. A person
could look back at the activities and
events, both large and small, that had
shaped his or her year and could surmise what plans and actions would be
important for thriving in the coming
year. Past mistakes might be analyzed,
trends identified, advice sought, and
predictions digested, all toward laying the groundwork for a fresh start
in the New Year. Preparation, insight,
and anticipation were and continue
to be key ingredients to position for
future success.
This winter issue of the Surety
Bond Quarterly serves as a reflection on some of the "past mistakes,"
"trends," "advice," and "predictions"
that have impacted the construction
and surety industries over the past
year and, in some instances, over
many years. Each article is included
with the goal of helping readers to
understand, to assess, and to put into
perspective the challenges and opportunities that may lie ahead.
Rebecca Glos and Amanda
Marutzky, attorneys with the law firm
of Watt, Tieder, Hoffar & Fitzgerald,
LLP, provide a rundown of considerations for surety claims professionals regarding subcontractor default

insurance, detailing distinctions
between such insurance and surety
bonds. R.A. Bobbi Hayes, a certified
public accountant with Carr, Riggs &
Ingram, LLC, details the importance
of contractors understanding how to
properly allocate job indirect costs
to ensure profit realization. With
respect to AIA's recent issuance of
revised standard construction contract forms, the new insurance and
bonding contract exhibit is analyzed
by attorney Todd Regan of the law
firm of Robinson+Cole, LLP. Barron
Avery and William O'Reilly, attorneys
with the law firm of Baker & Hostetler,
LLP, give advice on considerations for
managing disaster recovery contracting. Other articles focus on building
long-term relationships and cyber
plan considerations. Also included
for winter is a web exclusive article
posted on suretybondquarterly.
org, authored by attorneys Mike
Zisa and Susan Elliott with the law
firm of Peckar & Abramson, covering potential liability exposure to
surety professionals from False Claim
Act violations.
President Lyndon B. Johnson once
remarked: "Yesterday is not ours to
recover, but tomorrow is ours to win
or lose." I hope the information presented in this winter issue of Surety
Bond Quarterly help you to take stock
of our present challenges and future
opportunities, so that we, as individual businesses and collectively as an
industry, never lose sight of the right
path for suretyship.
Warmest regards,
Mark H. McCallum
NASBP CEO

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

9


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
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