What is a Insurance Broker Bond?
An Insuance Broker Bond is a license and permit bond required by a state department of insurance. This bond protects individuals who may be harmed by the actions of a licensed insurance broker. Each state has a specified amount for the bond as well as specified language (bond form) as to what the bond will cover. Current Market: Bonding companies across the country are writing Insurance Broker Bonds. The bonds are considered a relatively low risk for the surety in comparison to some other commercial risks. Rates are similar to other commercial surety bonds and vary little from surety to surety. Due to the similar rates, you may find it most important to find an agency with good customer service when looking where to place this type of bond. Special Programs: Insurance broker bonds are considered a standard risk for a surety to guarantee. However, not all applicants are considered a standard risk. Our agency offers several high risk programs to ensure applicants that typically do not qu
