SIO Inducts New Members into the Tiger Trust

The Surety Information Office (SIO) inducted John D. Schramm, Michelle V. Orlando, Lawrence F. McMahon and Martin R. Brady, Jr. into the Tiger Trust, an honorary society of surety industry professionals who persuade private construction project owners or lenders to specify contract surety bonds on their project.

Schramm, vice president of Surety for the Dawson Company, was inducted for convincing St. Anselm Church of Chesterland, Ohio to specify a surety bond instead of a letter of credit as required by the Catholic Diocese of Cleveland on a $33 million church and school renovation. Because the letter of credit would have placed a burden on the contractor’s bank line of credit, Schramm met with the chairman of the Church Building Committee and ultimately convinced him that the surety bond was a cost effective method of assuring project completion.

Orlando was inducted for her efforts in convinving the Central Maine Medical Center in Lewiston, Maine to use surety bonds on the construction of a $40 million cardiac wing. In addition, Orlando, who serves as vice president of the Bond Division for Dunlap Insurance & Bonding, worked with the hospital’s vice president of Business Development to draft policy language to specify surety bonds on future construction projects over $100,000.

McMahon, vice president of Surety & Insurance for Driver Alliant Insurance Services, convinced the Highland Partnership and Watt Commerical Enterprises to require a surety bond to manage the risk on the construction of its $55 million Little Italy Residential Tower in San Diego, Calif.

Brady, bond director for Swiss Reinsurance America Corporation, helped make his company require its construction manager, Turner Construction Company, to bond all major contractors on the construction of the reinsurer’s new $100 million headquarters in Armonk, N.Y.

Topics Construction