Thursday, May 17, 2007

Bail-bond pros get warning from state

Bail-bond pros get warning from state - News - "Lawmakers on Monday heard from state officials and members of Connecticut's troubled bail-bond industry who agreed that the state has to reform the process by which defendants are released from jail pending trial.

Bail-bond professionals warned that since the state Department of Insurance is not enforcing the prices that defendants and their families are charged, the market is turning into a free-for-all.

As a result, large, often out-of-state companies are undercutting smaller firms and forcing judges to gradually raise the price of average bonds to the point where $100,000 isn't unusual anymore."

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