Okla. Orders Bonding Company to Cease and Desist

Oklahoma Insurance Commissioner Kim Holland announced she is ordering Global Bonding to stop conducting unauthorized business involving insurance in Oklahoma.

The order states the company has violated state law by misleading consumers, construction companies and subcontractors regarding surety bonding for construction projects.

“Businesses, government entities, architects, contractors and anyone involved in construction, needs to be aware that this company is not authorized to do business in Oklahoma and they are taking a big risk if they hire Global Bonding to insure construction for their project,” Holland said.

The action resulted from a complaint received by the Oklahoma Insurance Department from a subcontractor working on a construction job for Newcastle Independent School District. Investigation by the department revealed that Global Bonding, a company based in Las Vegas and operated by Robert Joe Hanson, was not licensed to conduct insurance business in Oklahoma.

Global Bonding has also been ordered to cease and desist doing insurance business in Nevada, Texas, Montana, Washington, Georgia and Florida.

Oklahoma Insurance Department investigators believe the company is targeting small and disadvantaged businesses that sometimes have difficulty obtaining bonding. The department of the Army issued a Criminal Alert Notice citing Global Bonding and Robert Joe Hanson, with the alias of Dennis R. Lyon, and several other companies and individuals affiliated with Hanson. The report stated Hanson had submitted fictitious bonds on numerous U.S. Government contracts.