Illinois Tpa | $50,000 Tpa Surety Bond
Also known as: tpa bond
Type of Bond
An Illinois TPA Bond is a type of surety bond required by the state for businesses that act as third-party administrators (TPAs) for employee benefit plans, such as health insurance, retirement plans, or pension plans. The purpose of the bond is to protect clients and beneficiaries of the benefit plans from any fraudulent or unethical practices by the TPA. It serves as a financial guarantee that the TPA will adhere to state laws, regulations, and ethical standards governing the administration of benefit plans, including the proper handling of plan assets, timely payment of benefits, and transparent disclosure of fees. If a TPA fails to fulfill its 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 TPA Bond helps ensure that TPAs operate their business ethically and in compliance with state regulations, protecting the interests of the beneficiaries and the public.
Program
The price you'll pay for your $50,000 Tpa 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 $50,000 Tpa 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 $50,000 Tpa 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 Tpa Bond Application process.
The Illinois Tpa Bond amount is currently set at $50,000.
Obligee Information
An obligee is the entity that is requiring you to have the Tpa bond.
Obligee: Illinois Department Of Insurance
If you or your business needs help in obtaining a surety bond or commercial insurance give us a call!