Building on Trust: How the Surety Industry Is Securing America's Future

WASHINGTON, D.C. – June 18, 2026 – In a quiet meeting room in the nation's capital, over 170 leaders of an industry that underpins trillions of dollars in economic activity gathered not just for handshakes and board elections, but to strategically align on a mission of profound public consequence. The Surety & Fidelity Association of America (SFAA) held its 118th Annual Meeting this week, an event that offered a rare glimpse into the architecture of trust that ensures our nation’s roads, bridges, and critical infrastructure projects are completed as promised. While the proceedings were filled with industry-specific terminology, the underlying themes of data-driven policy, long-term resilience, and human capital investment reveal a sophisticated effort to fortify the very systems we rely on.

For an industry built on the concept of a guarantee, the meeting was a powerful statement of intent. As the country navigates a landscape shaped by massive federal initiatives like the Infrastructure Investment and Jobs Act (IIJA), the work of surety professionals—who provide the bonds that guarantee project completion and protect taxpayer funds—has moved from a back-office function to a central pillar of national strategy. The conversations and decisions made here signal a proactive shift, positioning the industry not as a passive observer of economic trends, but as an active participant in building a more reliable future.

A Strategy Forged in Data and Advocacy

The core of the SFAA's forward-looking agenda, emphasized by re-elected SFAA Chair Michael Keimig and President & CEO Ryan Work, rests on the twin pillars of sharp advocacy and empirical evidence. The association's leadership understands that in the modern policy arena, influence is directly proportional to the quality of one's data. To that end, a key focus of the meeting was an updated economic analysis being developed with global professional services firm EY. This initiative is designed to move beyond anecdotal evidence and precisely quantify the economic value and ripple effects of surety bonding.

This data-first approach is not merely academic; it is the fuel for a highly effective government affairs engine. The SFAA has already demonstrated its prowess on Capitol Hill, having played a crucial role in advocating for provisions like the TIFIA-bonding amendment within the IIJA. That success, which helps facilitate bonding for large-scale transportation projects, showcases how targeted policy engagement can unlock significant value. By providing lawmakers with state-specific data sheets detailing the impact of bonding on projects funded by the IIJA, Inflation Reduction Act (IRA), and CHIPS Act, the association translates abstract policy into tangible local benefits. The recent recognition of SFAA's Head of Federal Government Affairs, Alex Gleason, as a top lobbyist underscores the seriousness and success of this strategic focus.

“This year’s Annual Meeting demonstrated the strength of this membership and the value of coming together to exchange ideas, strengthen relationships, and align around the priorities that will shape our future,” said Michael Keimig, SFAA Chair and President & CEO of Markel Surety Corporation. “The conversations throughout the meeting reinforced that our greatest opportunity comes from continued engagement, strong advocacy, actionable insights, and working collectively to advance the value of surety and fidelity.” The unanimous election of a new board and executive committee, featuring leaders from across the industry's major players like Nationwide, Travelers, and Liberty Mutual, solidifies this united front.

Investing in the Human Architecture of Trust

While data and policy form the strategic skeleton, the industry's lifeblood remains its people. A system of trust is only as strong as the experts who manage it. Recognizing this, the SFAA has made a significant commitment to cultivating the next generation of talent through its philanthropic arm, the SFAA Foundation. The announcement that the Foundation awarded $90,000 in scholarships in 2025 is more than a feel-good story; it's a critical investment in the profession's long-term viability.

In a competitive labor market where financial and risk management expertise is in high demand, building a robust pipeline of qualified professionals is a matter of strategic survival. The scholarships aim to attract bright minds to a field that requires a unique blend of underwriting acumen, financial analysis, and legal knowledge. The transition of the Foundation's presidency from Larry Taylor of Merchants Bonding Company to Bryce Grissom of Travelers Bond & Specialty Insurance signals a continued commitment to this essential work. By actively funding education and outreach, the SFAA is ensuring that the human infrastructure needed to assess and guarantee complex projects is as resilient as the physical infrastructure it helps build. This people-first philosophy acknowledges that sophisticated systems ultimately depend on human judgment, integrity, and expertise.

Resilience in a New Economic Era

The annual meeting did not occur in a vacuum. It served as a microcosm of how specialized industries are adapting to a rapidly evolving economic environment. The keynote address by entrepreneur Steve Welch, titled “Built on Purpose: The Difference Between Motion and Real Change,” captured the zeitgeist of the gathering. The surety industry is moving beyond the simple “motion” of its daily business to drive “real change” in how public trust is established and maintained.

The industry's health is a powerful barometer for the broader economy, particularly the construction sector. As the nation undertakes a historic reinvestment in its infrastructure, the role of surety becomes paramount. The association’s strategic plan is an explicit acknowledgment of this heightened responsibility. By ensuring that contractors are properly vetted and that public funds are protected, the surety industry acts as a crucial, if often invisible, quality-control mechanism for national progress.

The discussions in Washington were not just about managing risk but about enabling ambition. As new technologies, materials, and project financing models emerge, the professionals in this room are the ones who must learn to underwrite them. Their collective effort to align on strategy, advocate with data, and invest in talent is a quiet but powerful force, working to ensure that the promises made in legislative chambers and corporate boardrooms become a concrete reality for the American public.