The Daily Beast reports Knight Specialty Insurance Company appears to lack the surplus listed in financial statements to meet the capital requirements for posting the bond required for Donald Trump to appeal his civil fraud penalty.
New York law limits the amount a surety company can post on a single bond to 10 percent of its total “capital and surplus.”
However, the bond posted for Trump exceeds this threshold — the Trump bond is 127% of the company’s dedicated reserves — raising concerns about over-leveraging.
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