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Senators taking aim at insurance companies behind bail bond industry

If you’ve been following Policy Watch’s coverage of the for-profit cash bail industry and the movement to reform it, you’ll want to check out this week’s story on bail industry backers in the insurance industry from The Marshall Project.

From the piece:

Two senators want to shine some light on the business. On Friday, Sen. Cory Booker, D-N.J., and Sen. Sherrod Brown, D-Ohio, sent a letter to 22 insurance companies requesting details of their finances and their relationships with the bail bond agents they underwrite.

The piece also goes into the way in which the movement to eliminate cash bail is impacting what has, for decades, been a growing industry.

After years of uninterrupted growth, bail bond premiums fell more than 3 percent in 2017 compared to the year before. The report forecast more decline as more laws change and lawsuits prevail.

“Ultimately, in states where reform measures significantly diminish — or eliminate entirely — the need for defendants to post cash bail, the business of bail bond agents and bail bond insurance specialists as currently constituted will likely cease to exist,” the report said.

Read the full piece here.

 

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