OLYMPIA, Wash. – Insurance Commissioner Mike Kreidler issued a revocation order against David A. Regan and his insurance agency, Regan Bail Bonds, Inc. of Vancouver, Wash. Kreidler also issued an order imposing a $100,000 fine and $7,072 in unpaid premium tax, penalties and interest.
Kreidler’s orders state that Regan Bail Bonds acted as an insurer starting in January 2018 by posting at least 325 bail bonds in Washington courts that named Regan Bail Bonds as the surety. The bonds represent $3.7 million in liabilities, including almost $2 million of open liabilities at the conclusion of Kreidler’s investigation. Regan Bail Bonds collected $294,570 in premiums for the bonds.
