SFAA Surety Loss Costs
The SFAA has filed revisions to the surety loss cost tables contained in Manual of Rules, Procedures and Classifications for Fidelity, Forgery and Surety Bonds. The change, the actuarial exhibits and supporting data are available for members in the statistical section of our website. Please check the Regulatory section for updates on the status of state approvals and effective dates.
Any questions should be directed to Alan Clark, SFAA Actuary, at (202) 778-3627 or firstname.lastname@example.org.
SFAA Call for Statistics
The SFAA currently is conducting its annual Call for Statistics collecting 2017 surety, fidelity and financial institution statistics. Original submissions of premium, paid loss/paid ALAE/recoveries, outstanding loss/ outstanding ALAE were due on March 1, unless an extension was granted. All resubmissions and error corrections, if necessary, must be made by April 16 (please note that the usual deadline, April 15, falls on a Sunday this year).
A Transmittal Letter form must be submitted to email@example.com for every file sent in response to the Call. After the data has been submitted and accepted, a Reconciliation Report must be completed and sent to the email address above by April 30. The Reconciliation Report compares the state-by-state premium, paid loss and paid ALAE amounts reported by each member through the Call for Statistics with those reported on its annual statement, and explanations are provided for any discrepancies between the two figures.
SFAA Financial Statement and Statistical Plan Reports
The Top 100 Surety and Fidelity Writers reports, the 50 Largest Surety and Fidelity Writers (by state) reports, and the Insurance Expense Exhibit reports are scheduled to be published on the website in April. The Quarterly Top 100 Surety and Fidelity Writers reports, along with the Quarterly Results report for 1Q18, are expected to be published on the website by the end of May.
Statistical reports are available on the website for SFAA members and statistical subscribers and are copyrighted. They also are available for purchase by others. Any questions about reporting fidelity and surety statistics to SFAA or the SFAA statistical plan or financial statement reports should be directed to Ed O’Donnell at
(202) 778-3632 or firstname.lastname@example.org.