Let's Get Surety

Kristen Sharpe, a Partner at Crowe LLP specializing in financial services consulting, dives into the transformative role of AI and technology in the surety industry. She discusses the shift towards automation and the necessity for system integration in a post-COVID landscape. Kristen emphasizes how younger professionals are driving tech adoption and the need for high-quality data in AI systems. The conversation also touches on the future demands of the workforce, urging the industry to adapt to rapid changes and streamline processes for enhanced efficiency.

In this episode of Let’s Get Surety®, we are joined by NASBP's Director, Government Relations (GR) Larry LeClair, NASBP's GR Committee Chair, Alan Starks of Christensen Group Insurance, and GR Committee Vice Chair, Matt Cocco of Smith Brothers Insurance to discuss the Federal Legislative Fly-In, which is co-hosted by NASBP and SFAA. The Legislative Fly-In offers opportunities for surety professionals, as voting constituents, to discuss the importance of the surety product with their elected officials and/or their staff. These interactions not only boost understanding of the surety product but also demonstrate the industry's crucial role in the economy and job creation. We also discuss the many benefits of attending the Fly-In beyond advocating for the surety industry, such as great networking with other surety colleagues, educational programming, and even opportunities for sightseeing! Find out more about the upcoming Federal Legislative Fly-In and register to attend! Also, be sure to check out the Let's Get Surety Episode "Talking With Your Elected Officials About the Importance of the Surety Product!" With special guests: Larry LeClair, Director, Government Relations, NASBP, Alan Starks, Senior Vice President - Surety, Christensen Group Insurance, and Matt Cocco, Surety Risk Advisor, Partner, Smith Brothers Insurance Hosted by: Kat Shamapande, Director, Professional Development, NASBP and Mark McCallum, CEO, NASBP Sponsored by Old Republic Surety!

In this episode of Let’s Get Surety®, we are joined by author, columnist, and keynote speaker Gene Marks to look at some of the challenges and opportunities facing small and medium businesses. Gene shares what some of the smartest and most experienced business leaders are doing to navigate these changes. He touches on the upcoming election, possible tax changes, labor issues, and technology, specifically preparing for and harnessing the power of generative AI. If you want to hear more on tax changes and cybersecurity in the age of AI, check out these past episodes: "Tax Cuts and Jobs Act: Sunset in 2025 and Its Impact on Construction Services" and "Constructing Cybersecurity: Navigating Data Protection in the Construction Industry." With special guest: Gene Marks, CPA, The Marks Group PC Hosted by: Kat Shamapande, Director, Professional Development, NASBP and Mark McCallum, CEO, NASBP Sponsored by Old Republic Surety!

In this episode of Let’s Get Surety®, we explore the world of Employee Stock Ownership Plans (ESOPs) with Jim Tressel and Travis Remick of Liberty Mutual Surety. They discuss the unique aspects of ESOPs, and the factors contributing to their current prominence. Our guests provide insightful considerations for selecting an ESOP consultant, understanding valuation processes, the significant role ESOPs can play in a company's succession strategies, as well as the value of including the surety early in the process. For more information on ESOPs, check out this NASBP Virtual Seminar mentioned during this episode, "Employee Stock Ownership Plans (ESOP): What You Should Know." With special guests: James (Jim) Tressel, Senior Vice President and Chief Underwriting Officer, Liberty Mutual Surety and Travis Remick, Chief Underwriting Officer, Contract Surety, Liberty Mutual Surety Hosted by: Kat Shamapande, Director, Professional Development, NASBP and Mark McCallum, CEO, NASBP Sponsored by Old Republic Surety!

Sheila Thompson, President of Rosenberg & Parker of Canada, and Cristina Hagivreta, Surety Manager at Trisura Guarantee Insurance Company, discuss the transformative CARM initiative reshaping Canada's importing process. They emphasize the shift from customs broker bonds to importer bonds and the necessity of navigating the new CARM Client Portal. With the upcoming October 21, 2024 deadline, they highlight the importance of preparation, communication, and compliance for importers, offering insights into updated bond requirements and the resources available for adapting to the changes.

In this episode of Let’s Get Surety®, we discuss the increasing importance of cybersecurity in the construction industry with guest Richard Volack, a partner at Peckar & Abramson. Richard highlights several factors that typically make construction companies more vulnerable to cyber attacks, such as slower technology adoption and the need for the exchange of sensitive data among parties. Volack also shares steps that can help mitigate cybersecurity risks like using multi-factor authentication and making regular firewall updates. Be sure to check out the NASBP Virtual seminar, AI in Construction Law: Managing Risks and Opportunities that is mentioned during this episode and search Cybersecurity on the SuretyLearn Catalog to dive in even deeper! With special guest: Richard Volack, Partner & Chair, Cyber Security & Data Privacy Practice, Peckar & Abramson Hosted by: Kat Shamapande, Director, Professional Development, NASBP and Mark McCallum, CEO, NASBP Sponsored by EMC Bond!

Will Kantlehner IV from Gallagher, an expert in surety careers, and Nate Byerly from Gray Surety, who navigates private equity's influence on bonding, share their insights. They discuss how private equity introduces complexities in bonding processes, emphasizing effective communication within construction firms. The duo reflects on their career paths and the legacy of surety, while exploring the strategic challenges and opportunities that arise from private equity involvement in construction, including the need for informed underwriters and succession planning.

Join construction financial expert Todd Feuerman and tax specialist Travis Klein from Ellin & Tucker as they delve into the looming expiration of the Tax Cuts and Jobs Act in 2025. They explore the potential aftermath for the construction sector, including impacts on sureties and lenders. The duo emphasizes the urgency of proactive tax planning and outlines strategies for succession planning and ownership transitions. They also discuss the importance of assembling a trusted advisory team to navigate these upcoming changes successfully.

Have you ever wondered what it takes to be a leader in the surety industry? NASBP is excited to continue the series of episodes exploring that question, titled “The Corner Office: Conversations with Surety Leaders.” In this episode, we are joined by surety industry leader Ryan Springer, VP/Bond at EMC Bond, who shares how he found his love for surety and his role in the industry due to an unexpected Powerball win. Ryan also delves into the culture of EMC Insurance, emphasizing the importance of continuity, stability, and staff retention, and shares insights into the company’s recent growth. Additionally, Ryan speaks to opportunities and challenges on the horizon concerning surety claims and the surety industry as a whole. You can check out the EY report prepared for SFAA, mentioned during this episode, titled The Economic Value of Surety Bonds and listen to past episodes in The Corner Office series! With special guest: Ryan Springer, Vice President/Bond, EMC Bond Hosted by: Kat Shamapande, Director, Professional Development, NASBP and Mark McCallum, CEO, NASBP Sponsored by EMC Bond!

In this episode of Let’s Get Surety®, Kat Shamapande and co-host, Mark McCallum, have a discussion with legal and surety experts on the possible role bond producers can play in the contract bond claims process. Special guests are Jon Bondy of CSG Law, Robert Coon of Scott Insurance, and Marilyn Klinger of SMTD Law. Together, the hosts and guests explore how the bond producer, who often is not involved in the claims process, may, if involved, play a helpful role in heightening communications between and normalizing circumstances for both the principal and the surety when a claim arises. With special guests: Jonathan Bondy, Member Chair, Fidelity & Surety, CSG Law, Robert Coon, Vice President, Surety Advisor, Scott Insurance, and Marilyn Klinger, Managing Partner, SMTD Law LLP Hosted by: Kat Shamapande, Director, Professional Development, NASBP and Mark McCallum, CEO, NASBP Sponsored By EMC Bond!