New York AG Questions if $175 Million Bond Insurer Can Save Trump
The New York attorney general on Thursday questioned whether the company that swooped in to post a $175 million bond for former President Donald Trump is actually good for the money—or is even allowed to operate in the state.
The aggressive move by AG Letitia James came after Knight Specialty Insurance Company—a relatively unknown entity with tangential political connections to the former president—was forced to reveal its finances.
Lawyers for the law enforcement office made a court filing that “hereby takes exception to the sufficiency of the surety,” noting that KSIC is trying to operate “without a certificate of qualification.” Under New York law, state regulators have certain standards to ensure that an insurer is “solvent, responsible and otherwise qualified to make policies or contracts of the kind required.”