Even the “failing New York Times” admits that the bond being asked of former President Donald J. Trump is impossible to pay in order for him to have his civil fraud case ruling reviewed by another judge.
“Any insurance company that underwrote a bond for Donald Trump in his civil fraud case in New York would undoubtedly be criticized by those who don’t like the ex-president,” wrote Peter Coy in the Times.
“Chubb Insurance found that out when it underwrote a much smaller bond in E. Jean Carroll’s defamation suit against him. Chubb’s chief executive, Evan Greenberg, was forced to put out a letter saying, “We don’t take sides, it would be wrong for us to do so, and we are in no way supporting the defendant.””
Coy goes on to explain that insurance regulation is the real reason Trump can’t find the case required to begin the appeals process:
“…state insurance departments that regulate surety bond companies don’t allow that kind of business. It would be highly risky for insurers to accept real estate as collateral because its value is unpredictable and it’s hard to sell on short notice. Regulators don’t allow insurance companies to charge high premiums for taking on that kind of risk; they want insurers to charge low premiums for low risk.”
Similar sentiments were extolled by lawyer Jonathan Turley, who appeared on Fox and declared the matter unique and unfair.
