Arkansas Surplus Lines Broker Bond
AmeriPro Surety Bonds | 844-589-9732
Surplus Lines Brokers License – Arkansas
Surplus lines brokers and businesses, licensed and regulated by the Arkansas Department of Insurance, are required to provide evidence of a $50,000 surety bond as a condition of licensing.
Meeting the surety bond requirement with our agency will be the easiest and shortest portion of your licensing process. We provide this bond for both new and renewal applicants.
Qualifying and the Premium
The $50,000 Arkansas surplus lines broker bond is issued to you immediately after completing an application — which we’ll take from you over the phone — and payment of the premium of $500.
There is no credit check nor underwriting review for the surplus lines broker bond; you are automatically approved.
Once the surety bond has been issued, a copy can be emailed to you for no additional charge. The original bond which you will sign as Principal, and which has our signature as Surety, will be sent to you by the following business day.
It is the original bond that you should ideally file with the Arkansas Department of Insurance.
Additional Premium Payment Options
At $500 premium, the Arkansas surplus lines broker bond is issued to you with a one year term. Thereafter your surety bond and the premium renew.
At your discretion, you have the option to prepay this bond for up to 3 years. Prepayment of the premium lengthens the time between renewal; you also have a savings over renewing your bond annually.
The premium prepayment options 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.
Purpose of Your Bond
As stated in the wording of your surety bond, the surplus lines broker bond is a financial guarantee that you will be in compliance all laws and amendments as it relates to your profession as found in the Insurance Code.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit bonds throughout Arkansas. We also provide surety bonds nationwide.
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