September 25, 2017

Trendsetters: Executive Women

Mike Vogel | 10/1/2007

Bonds, Bail Bonds

Deborah Jallad
[Photo: Jeffrey Camp]

Ah, those golden days of youth. Deborah Jallad well remembers her father, Hank Snow, taking her and his other four kids to work with him. “OK, kids, get in the station wagon. We’re going down to the jail,” he would call. And afterward, “he’d take us for ice cream,” Jallad says.

Jallad’s dad was a bail bondsman. Frustrated he couldn’t find a knowledgeable insurer to guarantee the bonds he wrote for defendants, Snow founded his own insurer, Accredited Holding, in 1971. When a stroke sidelined him in 1993, Jallad took over the firm. Her sister, Sharon Jallad, is executive vice president. The two brothers they married, Sharon’s husband, Samir, and Deborah’s husband, Johnny, are vice presidents.

Bondsmen charge defendants 10% of the bail and underwrite like lenders, assessing risk by length of employment, homeownership and so on. The average bail in Florida is $2,000 to $2,500; in California, it’s $15,000.

Accredited never has paid a bail bond loss thanks to careful selection of the 1,700 agents representing it nationally. Agents shoulder the majority of the risk and the responsibility of making sure defendants show up for court. “They’re the ones going out at 3 o’clock in the morning to take people to jail, and it’s not always an easy task,” Jallad says.

In 1993, Accredited was licensed in eight states. Now it’s in all 50. Jallad added non-contract commercial surety — notary bonds, probate bonds, judgment bonds and the like — that accounts for 60% of the business.

Revenue is $113 million, up from $76 million in 2002, making Accredited the fourth-largest woman-led business in Florida, according to a study by Florida International University.

After all the growth, Jallad, 56, isn’t looking for new business lines. “You realize after awhile you can only do so much and do it well.”

Deborah Jallad

Accredited Holding
CEO, president, Winter Park

No property insurance for her:
“I’d rather be in the bail business than the homeowners business any day of the week.”

Bounty hunters:
Florida doesn’t allow bounty hunting for profit. Only bail agents, private investigators and law officers can pursue those who skip bail.

Bail agent:
She went out a few times in her teens and early 20s when a woman defendant had to be retrieved.

Family-friendly career:
Only a handful of women worked in the field when Jallad started, but women now comprise half of all bail agents nationally. “It’s a great business for women. We have good intuition. You can raise your family. They have definitely changed the complexion of the industry.”

“If you don’t do this correctly, it can go wrong very quickly.”

Business ownership:
“Owning a business of any size is 24/7.”

Tags: Trendsetters

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  • Breaking News: Nova Southeastern University calls $200 million commitment from Patel Family 'transformational'

    Today, Nova Southeastern University (NSU) announces the largest philanthropic gift in its history from Tampa-area cardiologist Dr. Kiran C. Patel and his wife, pediatrician Dr. Pallavi Patel. The commitment from the Patel Family Foundation includes a $50 million gift and an additional $150 million for real estate and facilities. The money will be used to expand the university's programs in osteopathic medicine and health care sciences, and also to develop a new 27-acre campus for NSU in Clearwater, Fla. The Patels are renowned in Florida for their philanthropy, community service and entrepreneurship.

    “This gift and additional investment will enrich NSU’s ability to educate highly-qualified physicians and health care professionals who understand how the medical disciplines can and must work together. These future leaders will represent the cultural diversity of our region, our nation and our world so that they can better serve their patients and communities,” said NSU President Dr. George Hanbury.

    Their $50 million gift, one of the seven-largest to any Florida university in history, catapults NSU to more than 84% of its goal to raise $250 million by 2020 for its Realizing Potential philanthropic campaign.

    Read more at the news release, here.

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