The Alaska Division of Insurance regulates surplus lines licensees.
As a first time or renewal candidate, you are statutorily required to obtain a minimum $200,000 surety bond (the wording is “...not less than...”). Section 3 AAC 31.315.
Qualifying for the Alaska surplus lines broker bond involves:
For this surety bond, approval is based upon having a good credit profile.
The premium is offered at 1%, $2000 annually (assuming a $200,000 requirement).
Once the approval is obtained and the premium is paid, our agency issues you the follow documents:
Upon receipt, you’ll sign your bond as Principal and file it to:
State of Alaska
P.O. Box 110805
Juneau, AK 99811
The premium is not a onetime payment but renews annually.
If you anticipate the surety bond amount remaining the same for 2 or 3 years, then you may wish to consider prepaying your surplus line broker bond premium. Doing so offers you a savings over year to year renewals.
Using the $200,000 bond amount, the premium prepayment options and savings are as follows:
Your surplus lines broker bond is a financial guarantee of your compliance with all rules and regulations as found on Section 3 AAC 31.315, as amended. Also, any other related legislation.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide surplus lines broker surety bonds nationwide.
Our agency also provide license and permit, court, probate and other surety bonds both in Alaska and all 50 states.
Please call our agency today at:
Or, you may fill out the form below and a Surety Agent will contact you...