Friday, September 04, 2009

CT Insurance Commissioner Cracks Down on Bail Bond Agents

State Insurance Commissioner Thomas Sullivan is cracking down on improper business practices by the surety bail bond industry in Connecticut, which includes agents discounting bond premiums in order to gain business.

That allows defendants to get out of jail for a reduced price.

Recent enforcement actions against surety bail bond agents have resulted in two license revocations, two license suspensions, one year-long probation, and fines totaling $7,500, the state insurance department said.

"There is no reason why this industry can't operate within the letter of the law," Sullivan said in a written statement.

Surety bail bond agents are regulated by the insurance department because they are appointed agents of an insurance company. The department licenses 516 surety bail bond agents, 136 bail bond agencies, and 19 surety companies in the state.

Read  more here.
AddThis Social Bookmark Button

No comments: