Surplus Lines Broker Bonds
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- How much will a surplus lines broker bond cost?
It is a portion of the bond amount. The cost will vary depending on your specific bond needs. We need more information from you to give you an idea of costs because there are thousands of different bond requirements. You can get a range of prices or you can apply on our website and get a precise cost online.
- What is the process?
Apply, get approved online, sign the indemnity agreement, pay on our website and we will ship your bond to you.
- Is a bond needed for each broker or one for the entire agency?
It depends on the state. Some states require brokers to obtain bonds individually, while others exempt brokers who operate on behalf of a bonded surplus lines broker business from the bond requirement. View our state requirement list below to find the bond requirements of the state in which you operate. If it isn't listed, contact the state directly to determine their requirements as they may have changed.
- What are the licensing requirements to become a surplus lines broker?
Requirements are different from state to state. You will need to check with your state's insurance department to see what is needed to obtain a surplus lines broker license. A list of known surety bond requirements can be found below, along with the contact information of each regulating body.
- Where can I get a surplus lines broker bond form?
We have the forms on file listed below. If you do not see your bond, you need to get it from the obligee.