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October 25, 2012
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Targeted news for the surety professional

  Industry News 
  • N.Y. housing project can proceed despite group's concerns over bond
    A coalition of residents has filed a lawsuit over a town-house development in Bloomingburg, N.Y., that it says has failed to meet the village's requirements. A performance bond was required for the project, but the coalition says the bond documents were never reviewed. Additionally, the coalition says it has been unable to verify that the bond is valid. A judge recently declined to issue a restraining order to stop the project, but the coalition is moving forward with its lawsuit. The Times Herald-Record (Middletown, N.Y.) (tiered subscription model) (10/19) LinkedInFacebookTwitterEmail this Story
  • Small businesses receive increased share of contracts in San Diego
    Of the $242.4 million in construction projects distributed by San Diego in the past fiscal year, $57.5 million was awarded to small, local businesses. In comparison, just 3% of contract money went to such businesses in 2008, Mayor Jerry Sanders said. "I can say today that we've reached a level of success that we haven't seen, ever" in terms of awarding contracts to small and local businesses, a city official said. KFMB-TV (San Diego)/City News Service (10/16) LinkedInFacebookTwitterEmail this Story
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  NASBP News 
  • Pay one fee now for all 2013 NASBP Virtual Seminars and save $500 -- purchase by Dec. 21
    Help your staff prepare for what they will face in 2013 by registering your company for the 2013 NASBP Virtual Seminars in advance for a discounted price of $995, a savings of $500. The 2013 NASBP Virtual Seminars will address many issues that surety professionals should understand to be a success in 2013. With an average of two live telephone presentations a month, this subscription offers a cost-effective and time-saving way to help keep staff and customers abreast of the industry's current issues, run your business profitably, and improve your and your staff's professional skills. Virtual Seminar topics and presenters are identified and coached by members of the Virtual Seminar Editorial Board. As part of this subscription package, you'll also have recordings of each Virtual Seminar e-mailed directly to you soon after they've occurred, including seminars you were unable to attend. Instead of buying each NASBP Virtual Seminar individually, buy a year's worth at this discounted price of $995. To receive this discount, however, purchase of the NASBP Virtual Seminar Subscription Series must be completed by Dec. 21. To buy the 2013 NASBP Virtual Seminar Subscription Series now, visit NASBP.org. For more information about this subscription, go to NASBP.org or contact Cathrine Nelson at cnelson@nasbp.org. Information about upcoming 2012 Virtual Seminars is available at NASBP.org. LinkedInFacebookTwitterEmail this Story
  • NASBP new online Contract Surety Fundamentals course -- submitted for CE approval in all states
    NASBP's newest online course, Contract Surety Fundamentals, provides a comprehensive introduction to contract surety. The course, written by leading surety professionals and industry experts, provides new surety professionals the fundamental principles of contract surety they must know. The course topics include Overview of the Construction Industry, What Is Surety?, What the Surety Looks for in a Contractor, Miscellaneous Bonds, Construction Procurement and the Roles of Those Involved, Bond Claims, Other Services of a Surety, Special Concerns of Sureties, Popular Misconceptions, and the Role of the Professional Surety Bond Producer. Contract Surety Fundamentals is available on the NASBP website through the state-of-the-art WebCE training platform. NASBP has applied for Continuing Education (CE) credit for the course in all states and the District of Columbia with the anticipation that most states will consider and assign CE credit hours for the course by the end of 2012. To register and to see which states already have approved the course for CE credit, visit NASBP.org. This course is available as a training course for anyone at any time. Please note that if you take the course for training purposes and later wish to receive continuing education credits for it, you will have to re-purchase the course. Visit NASBP.org for more details. LinkedInFacebookTwitterEmail this Story
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  Market Trends 
  • Report: Regional insurers fell behind others in metrics for past decade
    Regional insurers' performance metrics for the past 10 years show that they fell behind other types of insurers in return on equity, according to an analysis by a ratings firm. "For regionals and personal-lines writers, the key driver of deteriorating combined ratios was higher catastrophe losses in the period ending 2011," the ratings firm says, adding, "While most personal-lines writers in the analysis have adequate scale, regional insurers also have scale disadvantages that promote higher expense ratios and a more-limited underwriting opportunity set." PropertyCasualty360 (10/16) LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
A fellow who is always declaring he's no fool usually has his suspicions."
--Wilson Mizner,
American playwright, raconteur and entrepreneur


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Contact NASBP
National Association of Surety Bond Producers
1140 19th Street, NW, Suite 800
Washington, DC 20036
Phone: (202) 686-3700
Fax: (202) 686-3656
info@nasbp.org
www.nasbp.org
 
About NASBP
Founded in 1942, NASBP is the association of and resource for surety bond producers and allied professionals. NASBP producers specialize in providing surety bonds for construction contracts and other purposes to companies and individuals needing the assurance offered by surety bonds. NASBP producers engage in contract and commercial surety production throughout the United States, Puerto Rico, Guam, and a number of countries. They have broad knowledge of the surety marketplace and the business strategies and underwriting differences among surety companies. As trusted advisors, professional surety bond producers act in many key roles to position their clients to meet the underwriting requirements for surety credit.
 
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