RISKWORLD 2026: Surety Insights with Nationwide’s Tony Albanese

Why It Matters

A resilient surety market underpins financing for critical infrastructure, while AI adoption and talent pipelines ensure underwriting efficiency and long‑term industry stability.

Key Takeaways

• Nationwide sees a healthy surety market post‑COVID with competitive underwriting
• AI task force aims to automate research, notes, and workflow efficiency
• Intern and trainee programs build pipeline, offering up to $10k scholarships
• Talent war addressed by hiring career‑switchers and expanding early‑career pipelines
• Contracts now include price‑escalation clauses to hedge geopolitical risks

Pulse Analysis

The surety sector is emerging from the pandemic’s disruption with a surprisingly robust market, according to Tony Albanese of Nationwide. After a brief period of losses that rippled through reinsurers, underwriting activity has steadied, driven by disciplined risk assessment and a competitive landscape. This stability is crucial for large‑scale infrastructure projects, where contractors’ financial strength and transparent risk profiles become the linchpin for successful financing. As political and economic variables evolve, surety bonds serve as a risk‑mitigation tool that keeps projects moving despite uncertainty.

Technology is reshaping how surety professionals operate. Nationwide’s AI task force is piloting tools that streamline data‑intensive tasks such as research aggregation, account summarization, and meeting note generation. While Albanese stresses that AI will not replace underwriters, the ability to quickly distill complex information gives firms a decisive edge in pricing and risk evaluation. This approach mirrors broader insurance trends where automation enhances productivity, allowing talent to focus on nuanced judgment rather than repetitive processes.

Talent acquisition remains a pressing challenge. To combat the industry‑wide war for skilled underwriters, Nationwide has invested in a structured intern‑to‑full‑time pipeline, complemented by scholarships of up to $10,000 for students pursuing surety careers. The firm also recruits career‑switchers, recognizing that diverse professional backgrounds can enrich underwriting insight. Simultaneously, contracts now embed price‑escalation clauses, a direct response to geopolitical shocks such as the Iran conflict, protecting both insurers and contractors from volatile material costs. These combined strategies—market resilience, AI integration, and proactive talent development—position surety providers to sustain growth in an increasingly complex risk environment.