Minority Business Development Institute Partnership: Helping Minority-, Women- and Veteran-Owned Contractors

Travelers and the Minority Business Development Institute (MBDI) partner to help contracting companies owned by minorities, women and disabled veterans – who are often underrepresented in the construction marketplace – qualify for surety bonds. This, in turn, can increase their economic sustainability and prospects for future success. Rather than waiving surety bond requirements, MBDI believes that education and one-on-one advisory consulting services will help create sustainable businesses.

Travelers has supported MBDI for more than a decade through participation on MBDI’s board of directors and through sponsorship of programs that offer educational content to more than 350 contracting firms.

In January of 2024, we launched the MBDI Contractor Bootcamp, which is designed to help emerging construction company owners sharpen their leadership, financial and business development skills. Travelers extended scholarships for the bootcamp to 42 minority, women and disabled veteran construction company owners, all of whom are currently attending bootcamp classes at our corporate offices in New York City. Travelers will conduct this program over a two-year period through Performance Construction Advisors, a wholly-owned Travelers subsidiary.