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Nathan Zangerle

Nathan Zangerle

President of Global Surety at Liberty Mutual Insurance, overseeing surety operations across North America, EMEA, Latin America, and Asia Pacific regions.

Jul 14, 2026

9:50
and the industry has adapted and has moved with the ability to provide greater capacity
9:56
correct well to steve's point we are tracking this very very carefully right very closely taking a look at what those aggregations are having those discussions you know across leadership just to make sure that everybody knows yeah socializing knows what's out there right you know one of the discussions we had that you know the challenge on this you've seen if there is a sub failure the severity to replace that subcontractor is significant so again what are the downstream effects you know how do you manage that risk as you have these large jobs you think about it it creates operating leverage so you have to flush that through the income statement the balance sheet so that creates leverage during that period of time so then the balance sheets have to catch up that's right to these giant programs exactly so it's it's a constant balance it's sitting down with our clients understanding what their business plans look like and making sure everybody's on sides with all the expectations.
10:44
And I know when

14 MINS LATER

24:33
absolutely.
24:34
Just say broad strokes, and it goes again back to the supply and demand dynamics.
24:39
It's both, as I always like to say, it's a dual-edged sword.
24:42
People are busy.
24:43
So when you have a problem and you're trying to re-let and bring in a new account to try to fix that, the costs go up.

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