Richard Wulff, the executive director of the International Credit Insurance & Surety Association (ICISA), has said he will leave the organisation at the end of the year. 

“It’s a move made with mixed emotions,” Wulff said in a LinkedIn post. “On one hand, I have a deep love for this business and the people who make it what it is. On the other, I believe the time is right for a fresh perspective to take the helm and continue ICISA’s upward trajectory.” 

He has led the industry association since January 2021, after a long career in the credit insurance sector. 

Wulff got his start in the sector in 1993 with NCM – now Atradius – and later held roles in Germany and India with Munich Re and HDFC Ergo, respectively. 

In 2009 he oined  QBE in Sydney, where he was group general manager for the insurer’s global credit and surety business. 

ICISA, whose membership is comprised of insurers, re/insurers and export credit agencies, celebrates its 100th centenary in 2026.

Maricopa County's director of risk management told the Board of Supervisors on April 9 that the county will purchase a $1 million surety bond that the Arizona Department of Transportation will require of self-insured entities for vehicle insurance renewals effective June 1, 2025.

Christopher Capels, director of risk management, said ADOT's statutory or regulatory renewal requirement will require a $1,000,000 surety bond as part of the county's self-insured renewal information. Capels said the cost to the county is $7,000 annually and that the department has the funds budgeted. He told the board the item was placed on the agenda because staff wanted board-level confirmation that the director has authority to sign the indemnity agreement required by the bond under the county's self-insurance program.

Capels said the county self-insures about 3,400 vehicles and that the bond is part of the renewal package; the intent is to streamline future renewals and satisfy ADOT requirements. Supervisors approved the agenda item as presented during the consent/addendum portion of the meeting.

Risk management staff said no additional county appropriation was required for the bond purchase and that the request is administrative — guaranteeing compliance with ADOT renewal requirements for the county's fleet program.

The U.S. Small Business Administration (SBA) has just unveiled groundbreaking results for its Surety Bond Guarantee (SBG) Program in fiscal year 2025, highlighting a remarkable $10.6 billion in guarantees. This milestone not only marks the strongest year in the program’s history but also echoes a broader economic ethos aimed at empowering small businesses, particularly in sectors like construction, manufacturing, and contracting.

SBA Administrator Kelly Loeffler emphasized the significance of this achievement, stating, “In addition to surpassing the $100 billion mark in 2025 for small business lending and SBIC investment, the Trump SBA guaranteed a record $10.6 billion through our Surety Bond Guarantee Program to support small manufacturers, contractors, and other job creators across our industrial base.” This robust financial backing allows small businesses to respond more effectively to rising demands for growth, hiring, and investment.

Surety bonds serve as performance guarantees for businesses entering into contracts, providing peace of mind to clients that projects will be completed as agreed. They are crucial for small businesses, especially those that may not qualify for traditional bonding due to financial constraints. The SBG Program opens doors, enabling more businesses to compete successfully for both public and private contracts.