Financial Casualty & Surety, Inc.

Political Contributions

According to records with the California Secretary of State, from 2008 to 2018, Financial Casualty & Surety made a total of 21 campaign contributions in California totaling $484,995.88


As of June 2019, the profile for “Financial Casualty & Services” and “Financial Casualty & Surety” with the National Institute on Money in Politics shows that it’s spent a total of $680,001 on state lobbying from 2011 to 2018, and it conducted lobbying over this time in Texas, Florida, Maryland, and California.

According to records with the California Secretary of State, since 2017, Financial Casualty & Surety has spent a total of $56,000.04 on lobbying in the state. Over this time, lobbyists employed in California included Tony Smith and Mandi Carey of Sloat Higgins Jensen and Associates LLC. Entities lobbied included the California State Legislature and Governor’s Office.


According to records with the Texas Department of Insurance, Financial Casualty & Surety, Inc. was acquired by the Myron F. Steves Company, a Texas general partnership. In addition, a March 2008 article from Business Wire stated that the principals of the Myron F. Steves Company “are the ultimate controlling persons of Financial Casualty and Surety, Inc.”1

According to a 2015 court brief submitted by Financial Casualty & Surety, Inc. in the Supreme Court of California, the individual owners of Financial Casualty & Surety were listed as Myron Fuller Steves Jr., Fredrick Benteen Steves, and Teresa Anne Steves Skinner.

In February 2019, the Insurance Journal reported that “Chicago-based Ryan Specialty Group has agreed to acquire the assets and operations of Myron F. Steves & Co., an independently owned wholesale insurance brokerage headquartered in Houston, Texas, with additional offices in Austin, Dallas and San Antonio. The Myron Steves team will become part of R-T Specialty, the wholesale brokerage unit of Ryan Specialty Group, and will expand the company’s presence in Texas, both in strengthening RT’s presence in Dallas and Houston and in establishing offices in Austin and San Antonio.” In addition, the website for Myron Steves states that the company “joined forces with RT Specialty effective March 1, 2019.”


According to records with the Texas Department of Insurance and Florida Division of Corporations, the following individuals serve as directors and principal officers of Financial Casualty & Surety.

  • Myron Fuller Steves, Chairman of Board
  • William Shields, President
  • Julie R. Nunez, Treasurer
  • Frederick Benteen Steves, Secretary
  • Anthony Smith, Executive Vice President & Chief Operating Officer
  • Kathleen Ledbetter, Senior Vice President of Regulatory Affairs
  • Terreance Cressy, Vice President & Director
  • Teresa Steves Skinner, Director
  • Scott Miller, Director

According to its website, the following individuals serve as members of the executive team for Financial Casualty & Surety.

  • William Shields, President
  • Anthony Smith, Executive Vice President & Chief Operating Officer
  • Kathleen Ledbetter, Senior Vice President of Regulatory Affairs
  • Terry Cressy, Vice President of Agent Relations

Dirty Laundry

Employment of Fraudulent Bondsmen - Marvin Morgan

In February 2018, the New York City Department of Consumer Affairs (DCA) announced that for the first time, it had filed “charges against the for-profit bail bond industry” and called “on other potential victims to come forward to file complaints.” Charges were filed against bail agent Marvin Morgan and several insurance and management companies, including Financial Casualty & Surety, “for engaging in deceptive and unlawful trade practices that preyed on vulnerable New Yorkers desperate to help bring their loved ones home.”

According to their press release, DCA was “DCA’s investigation found that Marvin Morgan, who owned and operated Around the Clock Bail Bonds, Marvin Morgan Bail Bond Agency, Marvin’s Fianzas, and Marvin’s Bail Bonds, charged illegal fees, refused to provide copies of documents to consumers, and failed to return collateral owed to consumers.” For instance, Morgan charged “illegal additional or add-on services such as mandatory third-party courier fees of up to $1,000 for transporting paperwork, which illegally circumvented the fee cap established in the New York State Insurance Law.” In addition, Morgan stalled the refund process to give consumers back their collateral “by claiming that he had not received their documents, blaming the insurance company for delays, promising that the check was in the mail, or demanding that the consumer call a different number for assistance. Some consumers eventually received collateral refund checks that were less than the amount posted, or made out to the wrong person—an apparent effort to further delay the return process—and many individuals simply never received their collateral at all.”