Posts Tagged ‘Bill 6354’

New Connecticut Bill to Better Regulate Bondsman

Thursday, March 5th, 2009

The state of Connecticut is taking new measures to better regulate the bail bond industry.  Concerns about bail bondsman not charging the full premium on bail bonds is becoming a large problem for the Insurance companies and the public.  A Bail bond premium is the percentage fee charged to the defendant to be released form jail.  For instance if a bail bond is $10,000, in Florida, a fee of $1,000 must be paid for the defendants release through a bonding agency. Many bondsman in Connecticut are asking for less in the hope to gain more business.  This sort of business practice is what damages the reputation and integrity of bail bond industry.  House Bill 6354 will regulate this type of practice.  This Bill allows the insurance company to collect the entire premium form the bonding agency and then issue the commission to the bondman minus any fees due to the insurance company.  Do you think this type of regulation will help or hurt the industry.  Read the full article here.