3 ms·
If the bond requirement becomes daily volume times 50 states, they are boned.
by aristus 14y ago
If the bond requirement becomes daily volume times 50 states, they are boned.
- AnIrishDuck 14y agoI wonder if they can post one bond that meets the requirements of all 50 states somehow... that seems reasonable, the issue is which party they would post the bond with.
- thinkcomp 14y agoNo. The bonds must be separate as it currently stands, and they are very expensive, not to mention a horrible way to handle insurance.
- tptacek 14y agoTwo questions. First, insurance underwriters sell surety bonds, so what makes them a "horrible" way to handle insurance? If the states mandated actual insurance, you'd be held hostage to the arbitrary requirements of insurance companies; the bond requirement allows you to substitute your own capital for the judgement of insurance underwriters if that's what you want to do, but also allows you to avail yourself of the insurance industry. Second, even though separate bonds are required by each state, what prevents insurance companies from simply selling you a surety bond product that meets the requirements of multiple states simultaneously?
- dsl 14y agoThe bond requirements are per state for daily volume, so if they needed one in every state it would be equal to one days volume.