This report from the ACLU and Color Of Change details the deep and troubling ties between Canadian insurance conglomerate Fairfax Financial and the for-profit bail industry. The report, which sheds new light on Fairfax’s role as the largest financial holding company underwriting for-profit bail in the U.S., explores the role of Fairfax and its subsidiaries in perpetuating money bail and blocking critical reform measures — even as the company speaks out against anti-Black racism.
In 2020, Fairfax CEO and Chairman Prem Watsa accepted a position as co-chair of the recently formed Canadian Council of Business Leaders Against Anti-Black Systemic Racism. Mr. Watsa’s commitment to anti-Black racism is necessary and laudable. But it rings hollow in the face of his company’s role as the larger backer of for-profit bail bonds.
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