Insurance Broker Bond
What is a Insurance Broker Bond?
A Insurance Broker Bond is a type of License & Permit bond that ensures that insurance brokers comply with state regulations and act ethically in their business dealings.
Protects clients from financial loss due to unethical or fraudulent practices by insurance brokers.
Required by state governments for insurance brokers to operate legally and maintain professional standards.
Applicant’s personal or business information, credit history, bond amount, and insurance broker license details.
Based on credit history and bond amount, usually 1-5% of the bond amount.
