Former Travelers Surety Manager Joins Merchants

January 7, 2009

Scott Bailey begins 2009 with Merchants Bonding

 Merchants Bonding Company announced the addition of former Travelers Surety Manager, Scott Bailey.  “Travelers is the largest surety writer in the United States, but they are second to Merchants Bonding in Iowa,” said Merchants President, Larry Taylor.  “We are pleased that Scott will join our team as we continue to grow our national presence.”

Bailey joined Merchants as Contract Underwriting Manager on December 29, 2008.  He resigned his position as Surety Manager for the Des Moines branch office of Travelers on December 12, 2008.

Bailey has been a leader in the surety industry in the Midwest since 1984, managing the integration of the St. Paul surety business with Travelers when that merger was completed in 2004.  Bailey has also been an active participant in industry associations including Associated General Contractors, Master Builders of Iowa, Construction Financial Managers Association and the Surety Underwriters Association.

“Agents will not notice a difference in how we work with them,” said Mike Foster, Executive Vice President of Underwriting.  “Agents will continue working with their assigned underwriting teams, under the direction of their current Merchants Assistant Vice President.  The addition of Scott Bailey will help us maintain and enhance our high standard of service as we continue to experience growth,” said Foster.

Merchants Bonding Company is the 19th largest surety provider in the United States doing business in all 50 states with an “A” rating from A.M. Best for 50 consecutive years.  Merchants Bonding Company corporate offices are in Des Moines, Iowa.