The SFAA advocacy team is active on the local, state and federal levels to ensure the interests of the surety and fidelity industry and our stakeholders are effectively represented within the legislative process. Our strength is exhibited in our ability to speak with one united voice to promote the surety and fidelity industry when educating legislators, regulators, government officials, media, and other industry stakeholders on the value surety and fidelity bonds provide to our economy.
Our Advocacy Priorities Include:
Maintaining Bonding Protections: Opposing bond threshold increases and waivers of legislatively-required bonding on public projects that protect workers, subcontractors, suppliers and taxpayers.
Bonding P3 Construction Projects: Requiring the same payment and performance bonding protections used in all other public construction projects utilizing public-private partnerships (P3).
Strong Regulatory & Financial Requirements: Ensuring the same strong regulatory and financial requirements for licensed insurance companies are also in place for independent sureties for the protection of the public.
Judicial Contract Adherence: Ensuring judicial awards are based solely on the agreed upon bond terms; for example, opposing Bad Faith claims and attorneys’ fees not expressly included in the bond terms.