2023 NASBP Conference Recap
By Dennis Stefano
National Director of Contract Surety
The 2023 National Association of Surety Bond Producers (NASBP) conference was recently held in Marco Island, Florida. This annual conference brings together top Surety professionals representing domestic and international Surety companies, Surety specific Reinsurers, and producers of domestic and international Contract and Commercial Surety business.
Consistent with the long history of the agency, Rosenberg & Parker (R&P) was well represented at this important industry event. Actively participating for R&P from the Philadelphia office were Harry G. Rosenberg and Dennis Stefano, John Wescott from R&P’s Denver Contract Surety Office, and Sheila Thompson, head of the Rosenberg & Parker of Canada, Inc.
In addition to the structured agenda of the event, this conference also afforded the R&P team the opportunity to meet one-on-one with the top personnel of the largest and most active current surety providers. In total, the team met with more than 40 Surety companies in extended strategy sharing sessions. The focus of conversation was primarily geared toward individual company results, current marketplace experiences, and appetite for new business and capacity expansion or contraction in the different lines of Surety offerings.
The conference agenda featured presentations on the most timely of subject: private equity and the evolving underwriting view on this pertinent topic. Also of value was the current economic presentation and construction forecast by noted economist, Anirban Basu. A presentation on the current state of the surety industry was offered, the findings having been based on interviews conducted by the NASBP Board with the senior management teams of the most significant Surety markets.
Sheila Thompson, past Chair of the NASBP International Committee, participated in the Commercial Surety Committee, Professional Development Committee and Board meetings. John Wescott was active at the event, discussing the significance of the SurePro proprietary contractor analysis program he has developed. This received tremendous interest from the Surety markets where John presented, and wide acknowledgement of the benefits of the application to current and prospective contract accounts.
Overall, the meeting was a success for the industry, as NASBP had their largest attendance in history. For Rosenberg & Parker, it provided a great opportunity to further our relationships with all key Surety partners, and demonstrate our growing capabilities and commitment to both the Contract and Commercial Surety segments.