(844) 589-9732

New York Excess Lines Broker Bond

April 2, 2020

The $50,000 New York excess lines broker bond is required of California non-resident licensees who wish to be licensed in New York. The premium for the bond is $500 annually. Please call AmeriPro Surety Bonds today at: 844-589-9732.

New York Excess Lines Broker Bond

AmeriPro Surety Bonds | 844-589-9732

 

 

 

California Non-Resident Licensing for NY ; Surety Bond Purpose

 

 

 

California surplus lines broker licensees who wish to hold a non-resident New York excess lines broker license are required by the New York Department of Insurance to obtain a $50,000 excess lines broker surety bond (see #7 at the link).

The purpose of this surety bond is to ensure your compliance with Section 2105 of the New York Consolidated Laws, as amended.

 

 

 

Qualifying and the Premium

 

 

 

As a California resident, you are automatically approved for the $50,000 non-resident New York excess lines broker bond. There is no underwriter review nor a credit check inquiry, and the premium is 1%, $500 annually.

Obtaining your excess lines broker bond is easy and takes a few minutes.

When you call us, we’ll just ask you the basics: The name, exactly as it should appear on your surety bond, along with your contact information. This latter will also include your email address.

After payment of the $500 premium, our agency will issue your surety bond to you immediately.

Included with your surety bond, will be a form for notarizing. You will have your bond notarized as Principal; and we will have had your surety bond notarized as Surety when you receive it in the mail.

(If you are in California, you’ll use a notary who will provide their own California notary form).

There will also be included two other documents: a Power of Attorney form, and a Surety financial asset statement.

All completed documents will be filed by you to:

New York State Department of Financial Services

Attention: Licensing Bureau

One Commerce Plaza

Albany, NY 12257

 

 

 

Premium Prepayment Options

 

 

 

Your non-resident New York excess lines broker bond may be prepaid up to 3 years, thereby offering you a savings over annual renewals (your bond is issued with for a standard period of 1 year).

The premium prepayment option and savings are as follows:

  • If prepaid for 2 years, the premium is $900, a $100 savings;
  • If prepaid for 3 years, the premium is $1300, a $200 savings.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, probate, and other surety bonds in New York, and all 50 states.

Please call our agency today at:

 

844-589-9732

 

Or, you may fill out the form below and a Surety Agent will contact you...

Request a Callback

  • MM slash DD slash YYYY
  • Please note: We do not share or rent your address to anyone, except for underwriting purposes associated with your surety bond.
  • This helps us to find exactly the surety bond that you require. By the way, it's perfectly OK to not know the type of surety bond you need; that's why we're here!
  • This field is for validation purposes and should be left unchanged.

BE IN TOUCH

CONTACT US