Commercial Surety Seminar
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Commercial Surety Seminar

11/13/2013 to 11/14/2013
When: November 13-14, 2013
8:00 AM to 5:00 PM
Where: Embassy Suites Hotel - Downtown
600 N. State Street
Chicago, Illinois  60610
United States
Contact: Christina Ortiz

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This seminar will provide both an overview and detail on the commercial surety line of business.  It will be presented by experienced and knowledgeable commercial surety underwriters and professionals.  The Seminar will provide newer entrants into the surety industry with details regarding the many types of commercial surety bonds and considerations regarding the underwriting process.  Underwriting issues will include topics such as bond language evaluation, financial analysis, indemnity, and assessment of the class of business risk.  The seminar also will include a "taste” of more specialized bond types such as Customs bonds, reclamation bonds and workers’ compensation self-insurance bonds.   


We will be accepting registrations on a first-come, first-served basis.  To register, please fill out a Registration Form (and see note below on payment options).  Please submit your registration by September 1, 2013 to ensure that you are included on the advance registration list.  To verify that space is available, please call 202-463-0600.


A full refund of the seminar registration fee will be provided if the reservation is canceled by September 1, 2013.


The seminar will be held in Chicago at the Embassy Suites Hotel – Downtown (600 N. State Street).  Take advantage of this worthwhile educational resource.  Register early.  Space is limited.   

To make hotel reservations, please call the Embassy Suites directly at 1-800-362-2779. A special rate of $259 per night is available for meeting attendees. All reservations must be guaranteed with a valid credit card and are subject to a 24-hour cancellation policy. Please mention that you are attending The Surety & Fidelity Association of America Commercial Surety Seminar.

The deadline to make reservations at the special rate is October 19, 2013.


NOVEMBER 13, 2013

8:00 a.m. – 8:45 a.m. CONTINENTAL BREAKFAST

8:45 a.m. – 9:00 a.m. WELCOME & INTRODUCTION

9:00 a.m. – 10:00 a.m. LICENSE & PERMIT BONDS Helen Lally, Westfield Group

This session will address the underwriting considerations, bond forms and statistics of three frequently written license and permit bonds: contractor’s license, motor vehicle dealer and mortgage broker.

10:00 a.m. – 10:45 a.m. COURT BONDS Elizabeth Heidl, Hanover Insurance

This section will cover the forms and underwriting considerations of a primary type of bond arising in court proceedings, a defendant’s appeal bond, and a major type of fiduciary bond, a probate bond.

10:45 a.m. – 11:00 a.m. BREAK

11:00 a.m. to 12:00 p.m. FINANCIAL STATEMENT ANALYSIS Terry Reckamp, CNA Surety

This session will present techniques and skills to assist the surety professional in navigating his or her way through the bond principal’s financial statement, including the principal’s annual report, 10K, and 10Q.

12:00 p.m. – 1:30 p.m. LUNCH


Although a newer surety professional may not encounter the higher risk bonds at the early stages of his or her career, it is never too early to be exposed to them. This session will cover the underwriting considerations, bond forms and applicable statutes related to workers’ compensation self-insurance bonds and mining reclamations bonds.

2:30 p.m. – 3:20 p.m. TAKING INDEMNITY Adam Friedman, Esq., Wolff & Samson P.C.

Indemnity is a critical component of a surety’s risk mitigation strategy. Thus, a strong working knowledge of the indemnity agreement is essential. This session will cover the clauses of a typical general agreement of indemnity. This session also will include a discussion of the requirements of taking indemnity correctly, depending on how the principal is organized. Particularly in the area of commercial surety bonds, the underwriter encounters bond principals that are organized in many different ways (corporation, partnership, limited liability company, sole proprietorship).

3:20 p.m. – 3:45 p.m. BREAK

3:45 p.m. – 4:30 p.m. REINSURANCE Sharon Sims, Endurance Reinsurance

Some basic reinsurance considerations are presented by a professional reinsurer, including the types of reinsurance agreements for this product line, exclusions and why they are inserted, and co-surety clauses.

4:30 p.m. – 5:00 p.m. CUSTOMS BONDS Michelle E. Lucaccioni, Navigators Insurance

Although underwriting Customs bonds generally requires a specialized knowledge, underwriters should have a general working knowledge of these bonds, as larger principals often have Customs bond needs in addition to other commercial surety needs. This session provides an overview of the forms and underwriting considerations of Customs bonds.

5:00 p.m. ADJOURN


November 14, 2013

8:00 a.m. – 8:45 a.m. CONTINENTAL BREAKFAST

8:45 a.m. – 9:00 a.m. WELCOME & INTRODUCTION

9:00 a.m. – 9:30 a.m. SFAA AND ITS STATISTICS Robert Duke, The Surety & Fidelity Association of America

This session provides a brief overview of the various statistic reports SFAA has to offer, which can assist the underwriter in making an informed assessment of risk.

Case Studies

Case Study Instructors:

Elizabeth Heidl, Hanover Insurance Group

Helen Lally, Westfield Group

Ray Philippon, Hartford Insurance Group

9:30 a.m. to 10:20 a.m. Organization and presentation of case by facilitator

10:20 a.m. to 11:15 a.m. Review and discussion by group

11:15 a.m. to 12:15 p.m. Presentation of analysis/decisions by each group

12:15 p.m ADJOURN




Pay by Check or Credit Card


Make checks payable to The Surety & Fidelity Association of America. Return Registration Form with payment to Meetings Department, 1101 Connecticut Ave., NW, Suite 800, Washington, DC, 20036.

Credit Card

Complete and fax a Registration Form and Credit Card Authorization Form to 202-463-0606

1140 19th Street, NW, Suite 500 • Washington, DC 20036-6617
Phone: 202-463-0600 • Fax: 202-463-0606

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