From Crisis to Caution: How the 2023 Banking Crisis Reshaped the Bankruptcy Depository Bond Market

The 2023 banking crisis tested the surety industry in ways few anticipated — triggering market withdrawals, exposing underwriting gaps, and forcing banks to rethink collateral strategies overnight. Skyward Specialty's Marino Demonte and Arthur B. Levine Co.'s Carol Levine offer an expert look at the crisis and its lasting impact on the depository bond market.

Key takeaways include:

• How the rapid failures of Silicon Valley Bank and others created immediate shockwaves across surety and reinsurance markets
• The collateral alternatives banks turned to when depository bond capacity dried up
• The underwriting lessons that have reshaped how sureties evaluate and price depository bonds today
• What a gradual – and uneven – market recovery looks like three years on

Read the full article on NASBP's website to learn more.