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Bailed out: Demand for bail bond services will increase as personal savings rates remain low
Bail Bond Services
The Bail Bond Services industry has grown steadily over the past five years. The industry has a very small loss ratio because the law permits industry operators to use all means possible to produce defendants who skip their court hearings. Bail bondsmen usually use the services of bounty hunters to track such individuals and produce them in court. Changes in the regulatory landscape will ultimately determine this industry's fortune over the next five years. This industry is being increasingly viewed as exploitative and one that favors the rich and high-risk criminals over the low-risk ones and social movements are developing to limit commercial bail activities. However, the industry has a strong lobby that tries to prevent external competition for this industry from growing by lobbying legislators in Washington. Given these challenges, industry revenue is projected to expand to remain relatively stagnant.
This industry provides security bonds backed by insurance companies that cover the risk involved in releasing a defendant in judicial custody until a trial’s conclusion. Bail bond agents guarantee payment of the full amount of the bond if the defendant fails to appear for their scheduled court appearance. Insurance companies that underwrite bond contracts are not included in this industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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