Illinois Producers License | $2,500 Producers License Surety Bond
Also known as: producer license bond, insurance producer license bond
Type of Bond
An Illinois Producer's License Bond is a type of surety bond required by the state for insurance producers or agents, also known as brokers or intermediaries, who sell, solicit, or negotiate insurance policies or contracts. This bond ensures that the producer complies with state laws, regulations, and ethical standards governing the insurance industry. The purpose of the bond is to protect the public from potential financial loss, fraud, or unethical conduct by the insurance producer. It serves as a financial guarantee that the producer will operate their business professionally, ethically, and in accordance with the law, including the proper handling of insurance policies, premiums, and claims. If an insurance producer fails to fulfill their obligations, engages in fraudulent or unethical practices, or violates state regulations, a claim can be filed against the bond to compensate affected parties for any damages or financial loss incurred. In summary, the Illinois Producer's License Bond helps ensure that insurance producers maintain a high level of professionalism and integrity in their work, protecting the interests of the public and upholding the integrity of the insurance industry.
Program
The price you'll pay for your $2,500 Producers License 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 $2,500 Producers License 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.
Application
The application process for a $2,500 Producers License 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 Producers License Bond Application process.
The Illinois Producers License Bond amount is currently set at $2,500.
Obligee Information
An obligee is the entity that is requiring you to have the Producers License bond.
Obligee: Illinois Department Of Insurance
Street: 320 W. Washington Street
State: Illinois
Zip: 62767
If you or your business needs help in obtaining a surety bond or commercial insurance give us a call!