Surplus Lines Broker Bonds are required in order to ensure that insurance brokers follow all pertinent rules and regulations set forth by their state government. They are required by several states for any insurance agent that offers surplus lines. Claims will likely arise in the event that a bonded insurance broker is found to be negligent, or in violation of the state’s governing regulations.
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Current Market for Surplus Lines Broker Bonds: This type of bond makes up a rather small portion of the industry, and subsequently there are not many specialty programs designed around this specific bond type. Like many other commercial bonds, there have not been many significant changes relating to Surplus Lines Broker Bonds in recent history.
High Risk Applicants: While we offer attractive programs for customers with strong credit at very competitive rates, we also offer different programs with higher rates for customers who currently have bad credit, are suffering from a recent bankruptcy, etc. If you are considered a high risk applicant, we should be able to help meet your bonding needs via one of our Bad Credit Surety Bond Programs.