(844) 589-9732

Arizona Insurance Administrator Bond

April 8, 2020

Our agency offers the Arizona insurance administrator bond in any amount required of you; and up to and inclusive of a $50,000 requirement, we offer this bond without a credit check for 1% (min. $100). Amounts greater than $50,000 require a credit approval. The rate upon approval of good credit is 1%. Please call AmeriPro Surety Bonds at 844-589-9732.

Arizona Insurance Administrator Bond

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Licensing of Insurance Administrators; Surety Bond Requirement and Purpose

 

 

 

In Arizona, insurance administrators are statutorily defined as a person who either settles or adjusts claims, or collects or charges premiums on behalf of someone who does so.

This may done on behalf of:

  • A union
  • An employer on behalf of the employees;
  • A life insurance or disability insurance producer;
  • And others.

A prerequisite for licensing is that a surety bond be obtained. The amount of surety required is a minimum of $5,000 surety bond, or 10% of the amount of the total funds handled; or, in the case where there is no prior business, what can reasonably be expected to be handled during the calendar year.

This is as per Arizona Revised Statutes, 20.485.10, as amended.

The purpose of the surety bond requirement is to serve as a financial guarantee for the protection of the public, and that you will observe all Arizona laws in the handling of any monies received.

 

 

 

Qualifying and the Premium

 

 

 

You are approved for any amount required of the Arizona insurance administrator bond between $5,000 and $50,000, without a credit check inquiry or an underwriter review.

With a minimum premium of $100, the premium will be 1% of the amount required.

Issuing your surety bond for these amounts is easy and takes a few minutes.

When you call us, we’ll just ask you the name, as it should appear on your bond (this name will match any other paperwork you’ll be filing with the state, so it’s not necessarily your personal name, although it may be), along with your contact information.

After payment of the premium, our agency issues your surety bond and Power of Attorney form to you.

Upon receipt of the original documents by mail, you’ll sign your surety bond and file it with the POA form to:

State of Arizona

2910 N. 44th Street 2nd Floor

Phoenix, AZ 85018

Amounts Greater than $50,000

Insurance administrator surety bonds greater than $50,000 require a completed, signed and witnessed surety bond application, an underwriter review, and a credit check inquiry. Approval is granted on the basis of good credit; and the premium is the same 1%.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. We provide insurance-related surety bonds, license and permit, court, and probate bonds in Arizona 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...

 

BE IN TOUCH

CONTACT US