What Does a Bail Bond Underwriter Do?
A job that may have guaranteed job security is the bail bond underwriter. Bail bond underwriters provide services for individuals who have been arrested and need to "make bail," so they can get out of jail.
Other People Are Reading
-
Purpose
-
A bail bond underwriter provides insurance for someone who has been arrested for, but not convicted of, a crime. The occupation is considered an insurance and finance job, so anyone who wants to be an underwriter should have appropriate training and should understand risk assessment and risk management.
Operation
-
Many defendants do not have the cash to make bail. The bail bond underwriter will put up the cash in exchange for a percentage of the bail, plus a non-refundable bond application fee, from the defendant. If the defendant makes all required court appearances, bail is refunded. If the defendant runs, the underwriter gets to keep the deposit, but has to pay the court the full amount of bail and try to collect the loss from the defendant.
-
Duties
-
The day-to-day duties of a bail bond underwriter involve a wide variety of activities. Most importantly, underwriters assess risks that defendants will or will not appear. They look at a defendant's ties to the community, like employment, family and home ownership.
-
References
- Photo Credit latticed prison window image by Stasys Eidiejus from Fotolia.com
