Bail: surety insurers.

Existing law generally regulates the undertaking of bail and the licensing of bail agents, bail permittees, and bail solicitors. Existing law requires an insurer executing an undertaking of bail to do so through a person holding a bail license. This bill would require all surety insurers that execute undertakings of bail to have a compliance unit with dedicated staff, to pay all forfeited bail bonds into escrow, and to provide a sworn statement to the Department of Insurance of all business transacted under its license or licenses in the last calendar year and to attest that bail licensees who they provide coverage to are in compliance with state law. The bill would require all contracts for bail to disclose the name of the insurer providing surety and a contact for the Department of Insurance for complaints. The bill would require the Department of Insurance to conduct a study and make recommendations no later than July 1, 2018, regarding insurers who provide coverage to bail licensees, as specified.