Maryland Insurance Broker | $10,000 Insurance Broker Surety Bond

Also known as: insurance broker bond

Type of Bond

A Maryland insurance broker bond is a type of surety bond that may be required for individuals or businesses operating as insurance brokers in the state of Maryland. It serves as a financial guarantee that the bonded broker will comply with the laws, regulations, and licensing requirements governing insurance brokerage activities. The purpose of the bond is to protect clients and ensure that insurance brokers operate with integrity, honesty, and in compliance with established guidelines. It provides assurance that the bonded broker will fulfill their obligations, act in the best interests of their clients, and handle insurance policies and claims responsibly. By obtaining the bond, the insurance broker agrees to abide by the requirements set forth by the Maryland Insurance Administration or other relevant authorities. This may include obtaining the necessary licenses, maintaining accurate records, providing transparent disclosure of insurance terms and conditions, and following ethical practices in the insurance industry. If the insurance broker fails to meet their obligations or violates the terms of the bond agreement, a claim can be filed against the bond. This allows clients or regulatory bodies to seek financial compensation for any damages, losses, or non-compliance issues resulting from the broker's actions. The bond amount for a Maryland insurance broker bond is typically determined based on the state's requirements and may vary depending on factors such as the broker's volume of business or the types of insurance policies handled. Insurance brokers should consult with the Maryland Insurance Administration or a surety bond provider to understand the specific bond amount and requirements applicable to their licensing and regulatory obligations.


Program

The price you'll pay for your $10,000 Insurance 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 $10,000 Insurance 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.


Application

The application process for a $10,000 Insurance 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 Insurance Broker Bond Application process.

The Maryland Insurance Broker Bond amount is currently set at  $10,000.

Obligee Information

An obligee is the entity that is requiring you to have the Insurance Broker bond.

Obligee: State Of Maryland