It legal for an insurance company to deny a bonding application if there is a bankruptcy that is 3 years old?
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It legal for an insurance company to deny a bonding application if there is a bankruptcy that is 3 years old?
Asked on June 21, 2012 under Bankruptcy Law, Colorado
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Under the laws of all states and federal law, in the private sector an insurance company can deny an application for a bond by an individual on any legitimate grounds including, but not limited to that the applicant for the bond had filed for bankruptcy protection three (3) prior. Granting or denying an application for a bind is a business decision by the entity writing the bond.
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