came after Knight Specialty Insurance Company—a relatively unknown entity with tangential political connections to the former president—was forced to reveal its finances.
What’s more, the additional scrutiny has called into question whether this insurance company even has enough money to meet the capital requirements for posting the bond. "Knight Specialty Insurance Company is not a New York domestic insurer, and New York surplus lines insurance laws do not regulate the solvency of non-New York excess lines insurers," he told CBS.to the New York Attorney General’s office, after AG Letitia James and her investigators proved at a recent trial that the real estate tycoon hadestate north of Manhattan by posting a bond—in other words, getting a surety company to promise it’ll pay if he loses the case.
The explanation that Knight Specialty Insurance isn’t subject to the capital requirements because it’s not a New York company subject to the state’s solvency rules raises even more questions as to why Trump would opt for a firm that isn’t even licensed by New York’s Department of Financial Services.