Surety bonds and insurance: Protection for contractors before the work starts

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Please join us for this virtual one-hour roundtable discussion regarding the latest trends and issues in the surety, bonding & insurance sector as it pertains to contractors. Two AGC-member experts will weigh-in on this topic -- Lennie Lee, from Travelers Surety, and Rob Bush, from Leavitt Group NW Insurance Brokers. Lennie and Rob will be focusing on the following key issues:

- Basics and understanding of bonding, including differences between bonding/insurance
- Parties involved in the bonding process
- What bonding companies consider when evaluating contractors  
- Ideas to help bolster financial statements which reduce bond-premium costs (including bid/performance), thereby winning more construction bids  
- Future of electronic bonding since COVID
- Basics and understanding of bonding, including differences between bonding/insurance

This session is specifically targeted toward those in management -- particularly those in risk and financial management -- of firms involved in job bids requiring bonds (bid/performance/payment/retention/etc.)

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Rob Bush is a client advisor with The Leavitt Group Northwest, advising businesses risk-management strategies including insurance and surety bonding. He is a Chartered Property Casualty Underwriter (CPCU) and Certified Insurance Specialist in Construction (CISC). Rob is also a member of the Surety Association of Washington, the past president of the Independent Insurance Agents & Brokers of Washington and serves on the Broker Advisory Committee of the Insurance Commissioner of Washington.

Lennie Lee is a construction-surety account executive with Travelers, the nation’s largest writer of surety bonds. He previously underwrote property & casualty insurance before moving to commercial surety - handling bonds for accounts ranging from municipalities, financial institutions and manufacturers to large technology firms. He earned a BA in finance from The University of Washington Foster School, is an Associate in Commercial Insurance (AU) and member of the Surety Association of Washington.

Join us via Zoom.