Surety Update - Developments in Standard Bond Forms and Impacts on the Construction Industry

Date November 14-18, 2011
Location
The Peabody Orlando
Presenter(s)

The surety industry is in the spotlight as concerns mount about contractor defaults. With competition taking a bite out of contractor margins, many contractors will be on thin ice as they wait for signs of recovery. The migration of contractors into government work and rising requests for bonds on more private projects means sureties and bond producers are working harder than ever to continue providing bonds while also protecting their own companies from excessive risks. Further, changes in standard bond forms over the past 3 years have been met with resistance by the bonding community. The first half of this workshop will provide an overview of the current condition and short-term expectations for the surety market, including a summary of sureties’ appetites and changes in underwriting requirements. In the second half of the program, learn about recent modifications in standard bond forms and their implications for both the surety industry and contractors.

Michael W. Anderson, President, U.S. Construction Practice, Marsh USA, Inc.
Terrence L. Brookie, Member, Frost Brown Todd LLC
Daniel P. King, Member, Frost Brown Todd LLC

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