What’s the New Surety Bond Requirement?
The Delaware Department of Insurance has adopted regulations for multiple employer welfare arrangements (MEWA) or associations for small businesses offering health insurance that require the MEWA or the association to obtain a surety bond that is sufficient to cover 20% of its annual premium for Delaware members.
The bond for the first year of operation must be for $500,000 to secure the contractual obligations to its health benefit plan members. The association or MEWA also must obtain a fidelity bond covering the administrator, the association or MEWA employees and service agents.
Why Choose JW Surety Bonds?
We are the nation’s largest volume bond producer, and provide the lowest rates in the industry. It’s also crucial that you understand that you’re responsible to pay any claims filed on your bond. When you partner with our company, you will have a dedicated claim specialist assigned to your account to ensure claim payouts are either reduced or avoided all together.
Get a Free Quote Instantly Online
If you’re ready to get a surety bond for this newly increased bond requirement, you can simply apply online.