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Strategic Surety Solutions, LLC
is a specialized consulting firm focusing on issues affecting the construction & surety industries such as:

  • Payment & Performance Bond Claims
  • Commercial Bond Claims
  • Turnaround, distressed, workout situations for contractors & sureties
  • Mediation and/or arbitration services

Experience:

Strategic Surety Solutions’ principal (Richard Towle) has been involved in the surety claims field for over 30 years (Worldwide). He has worked for a top four surety writing company. During this time, he has been involved in over 100,000 claims, worked on some of the largest bankruptcies ( Enron, Worldcom, Stone & Webster, Covanta) and some of the most successful workouts and/or restructuring in the construction industry (Washington Group, IES and Encompass). He has served as a member of the Unsecured Creditor Committee in connection with the bankruptcy of Wheeling Pittsburgh Steel and Covanta Energy.
Prior to his surety claims experience he was involved in nuclear construction industry for 10 years working for subcontractors, general contractors and project owners.
During his surety claims career, he has been involved in:

$0

billion worth of projects

$0

billion in loss payments

$0

million in paid expenses

$0

billion in recoveries for the surety

He has been a co-editor of Bond Default Manual published by the ABA. He has been a frequent presenter at industry organization meetings such as the ABA Fidelity & Surety Committee Midwinter & Spring meetings, Inter-Pacific Bar Association and International Bar Association.

Organizations:

  • Chubb Ltd. – Vice President Manager Surety Claims
  • American Bar Association – Fidelity & Surety Law Committee (Vice Chair)
  • National Bond Claims Association – (Member of Board of Directors)
  • Surety Claims Institute

Education:

  • BBA – University of Notre Dame

  • MBA – Baldwin Wallace College

  • JD – Cleveland State University

Certifications:

  • Ohio Bar (inactive)

  • Certified Cost Engineer (not currently active)

Services:

  • Best Practices

  • Quality Review Audits

  • Loss Reserve Adequacy Reviews

  • Reinsurance Review/Assistance

  • Surety to Surety Dispute Resolution

  • Temporary Adjusting Services

  • Workout/Restructuring Assistance

  • Claim Work Process/Workflow review

  • Surety Claims Expert Witness

  • Surety Claims Training

  • Trial Monitoring

  • Acquisition/Sale/Investment Due Diligence

  • Contractor claim/notice advice

  • Specialized claim handling services (Such as US Customs Claims)