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The Surety & Fidelity Association of America Elects Board Members and President

Friday, May 25, 2018  

MAY 24, 2018, WASHINGTON, D.C.— The Surety & Fidelity Association of America (SFAA) elected Larry Taylor as Chair of the Board of Directors. Mr. Taylor is the President of Merchants Bonding Company Group. He joined Merchants Bonding Company TM in 1989 and became the company’s President in 1996. He is past Chairman of the National Association of Independent Sureties, a member of the Greater Des Moines Committee, a past Board member of the Master Builders of Iowa Associate Council, past President of the Board of Directors of Youth Homes of Mid-America, and a United Way Campaign volunteer.

John Welch was elected to Vice Chair of the Board of Directors. Mr. Welch has been President and Chief Executive Officer of CNA Surety Corp. an affiliate of CNA Financial Corporation since June 17, 2003. Mr. Welch served as the Chief Underwriting Officer of St. Paul Surety from May, 2002 to June 2003; President of Afianzadora Insurgentes SA CV Mexico City from August 2000 to May 2002 ;Chief Operating Officer of Afianzadora Insurgentes SA CV, Mexico City from March, 1997 to August 2000; Vice President of Underwriting of USF&G Corporation from August, 1989 to March, 1997 and held various surety management positions at Continental Insurance from August 1979 to November 1989. Mr. Welch has been a Director of CNA Surety Corp. since June 2003.

Also elected to the SFAA Executive Committee were Bob Murray, Executive Vice President and Head of Surety for Zurich North, Stephen Ruschak, President and Chief Operating Officer of The Guarantee Company of North America and Ross Fisher, Head of Specialty Commercial Businesses of The Hartford Insurance Group, as well as the SFAA Board Immediate Past Chair, Ex Officio.  

In addition to those companies, SFAA members elected to serve on the Board were: AIG Property Casualty represented by John Phinney, Chief Underwriting Officer; Amtrust Group represented by Dan Young, Chief Underwriting Officer; Chubb Surety represented by Stephen Haney, Division Chairman, North America Surety & Chief Underwriting Officer; Global Surety, Great American Insurance Group represented by Gary T Dunbar, President, Bond Division; The Hanover Insurance Group represented by Theodore Martinez, Vice President and Chief Underwriting Officer; Liberty Mutual Group represented by Timothy Mikolajewski, President; Main Street America Group represented by Nancy Giordano-Ramos, Vice President, Head of Bonds; Markel Surety Corporation represented by John Knox, Jr., President and Chief Executive Officer; Nationwide Mutual Insurance Company  represented by Antonio C. Albanese, Vice President-Head of Surety; Old Republic Surety Company represented by Alan Pavlic, President and Chief Operating Officer; The Travelers Companies, Inc. represented by Thomas M. Kunkel, President and Chief Executive Officer; and Westfield Insurance Group represented by Dennis Baus, National Surety Leader and Senior Executive. Hannover Rück Reinsurance represented by Eric Arnst, General Manager and Senior Vice President, also was elected as the reinsurance representative on the Board.

Lynn M. Schubert was re-elected as SFAA President.

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The Surety & Fidelity Association of America (SFAA) is a trade association of more than 425 insurance companies that write the vast majority of surety and fidelity bonds in the U.S. SFAA is licensed as a rating or advisory organization in all states and it has been designated by state insurance departments as a statistical agent for the reporting of fidelity and surety experience.


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