Any large general contractor will say that surety bonds are their life’s blood. Often small, emerging and minority contractors see surety as a hurdle. This presentation will provide historical context, explain why surety bonds exist, describe what sureties do and how bonding can be used as a tool to build sustainable contractors, promote economic development and job creation to ultimately increase profitability and build legacy wealth.
Presenter:
Joanne S. Brooks, Vice President and Counsel the Surety and Fidelity Association of America
Admitted to the bar in Maryland. Graduated from American University with a BS in Urban Affairs and Administration of Justice in 1982 and the University of Maryland School of Law in 1985. Employed by Fidelity and Deposit Company of Maryland, which became Zurich Insurance Company, from 1985-2010, initially as a Claims Attorney in the Salvage Division to Senior Vice President and Chief Underwriting Officer of Zurich Surety. Joined Hanover Insurance Company as Chief Risk Officer in 2010. Joined The Surety and Fidelity Association of American in 2013. Also admitted in the United States District Court for the District of Maryland. Joanne has co-authored several publications for the American Bar Association and has given numerous presentations for AGC, DBIA, IRMI and many other trade associations and panels.