What You Need To Know Insurance Broker Bond
Southern California Insurance Brokerage (SCIB) is an independent insurance brokerage that has been offering Southern California businesses and organizations with superior insurance merchandise and surety bond companies since 1972. License Bonds – A License Bond guarantees that an individual or group will adjust to all required state statutes and licenses.
1. Complete an internet utility. It’s free and no-obligation. 2. One in all our surety specialists will contact you with a agency quote and an settlement to sign. 3. Present cost and your signed settlement, after which you will obtain your California Bond of Insurance Broker! If in case you have any questions, please name us at 877-654-2327.
Insurance Broker Bond, An Overview
We offer Surety Bonds to people, companies & insurance agencies. The Insurance Broker Bond is a binding agreement between the Principal and Obligee (South Carolina Division of Insurance), backed by the Surety Company.
The bond price that you will need to pay is determined on the premise of the bond amount that you are required to acquire to your California insurance broker license. At present, you have to put up a $10,000 California insurance broker bond.
An individual, corporation, partnership or other business entity required to be licensed below the legal guidelines of this state to obtain sure insurance coverages, known as surplus lines, that cannot be procured from licensed insurers.
Washington Insurance Broker Surety Bond
California Insurance Brokers are required below the Insurance Code Sections 1662-1665 to file a California Insurance Broker Bond as a situation of licensure. The bond quantity of the Insurance Broker Surety Bond is the quantity of 10,000.00. You could complete your continued schooling necessities before your license may be renewed.
Whether you are a contractor looking for a fancy bid bond or a business owner in want of a simple license and permit bond, Numerous Insurance Broker is here to assist.
Why Business Needs To Be Concerned With Insurance Broker Bond
Insurance Broker bonds cowl faithful performance of duties per the license requirements. If you’re seeking to change into an insurance broker in California, one huge part of what you will have to do is get your license. Here’s how to get a California Insurance Broker License.