A surplus lines broker bond is a type of surety bond that is required for businesses that engage in the sale and placement of insurance policies with non-admitted insurance carriers. The bond provides a financial guarantee that the broker will comply with all applicable laws and regulations related to surplus lines insurance and will handle any funds or premiums associated with insurance transactions responsibly. If the broker fails to comply with the bond's terms or regulations and causes damage or financial loss, the bond will cover the damages up to the bond amount. Surplus lines broker bonds are often required by state insurance departments as a way to protect consumers and promote ethical and lawful business practices within the insurance industry.
The price you'll pay for your Surplus Lines Broker Bond is generally based on your personal credit score. Start a free online quote by just completing a simple app or by calling 888-518-8011. Our experts will walk you through a very simple process. Compare our quote as the very lowest price, and then you're good to go! It's that simple!
We provide all types of Surplus Lines Broker Bonds. Worldwide Insurance Specialists, Inc. has "in house" underwriting authority with the largest and best Surety (Insurance) companies in the world including, Great American, Liberty Mutual, Philadelphia, Travelers, and CNA Surety. All of these surety bond companies are A-rated under the AM Best credit rating system, and T-listed with the U.S. Department of Treasury. This guarantees that by getting bonded through us, you will be provided the backing of these highly trustworthy and reliable companies.
The application process for a Surplus Lines Broker Bonds is easy! Many Bonds are INSTANT ISSUE! Easy Application, no underwriting, no credit check, no GIA required. Our NEW Desktop underwriting program provides you with a rapid approval process used to determine the degree of risk that you (the Principle) complete a project or obligation. Non-INSTANT ISSUE quotes can also get instantly approved. Submissions require very little information from you. Once you file and sign an indemnity agreement, we issue the Bond. It's that simple! We quote and issue Surety Bonds of every type and will help you through the entire process. These applications only require basic information about your business, bond type, and ownership structure. Once the application is complete, we submit to the insurance company (Surety) who will then issue your bond. Don't pay too much! Get your Bond Fast, and Easy with the best price! Click here to start the Surplus Lines Broker Bond Application process.
An obligee is the entity that is requiring you to have the Surplus Lines Broker bond.
Obligee: ALABAMA COMMISSIONER OF INSURANCE
Here are a few state specific bonds.