Arkansas Third Party Administrator Bond
AmeriPro Surety Bonds | 844-589-9732
TPA’s – Arkansas
Applicants for the Arkansas third party administrator license must:
- Complete Form AID-LI-TPA and pay a $100 fee;
- Provide a $25,000 surety bond;
- Provide additional information as required by the AR Department of Insurance.
Meeting the surety bond requirement will be the easiest and quickest part of your licensing process.
Qualifying and the Premium
You are automatically approved for the $25,000 Arkansas third party administrator bond. After completion of a surety bond application and payment of the $250 premium, this bond is issued to you immediately. Our agency will take the application from you directly over the phone.
Note that there is no credit check inquiry nor review by an underwriter before your TPA surety bond is approved.
Once the bond has been issued, a copy of the bond can be emailed to you. It is the original surety bond, which bears our signature as Surety, and which you will sign as Principal, that you’ll want to file with the Department of Insurance.
Additional Premium Payment Options
At $250 premium, the Arkansas third part administrator bond is issued with a standard one year period. Thereafter, your surety bond and the premium renew. To lengthen the time between renewals and to save money, you also have the option to prepay your surety bond premium for up to 3 years.
The premium prepayment and savings are as follows:
- If prepaid for 2 years, the premium is $450, a $50 savings;
- If prepaid for 3 years, the premium is $650, a $100 savings.
Purpose of Your Surety Bond Requirement
The Arkansas third party administrator bond is a financial guarantee that your TPA entity will be in compliance with all laws and amendments as outlined in the state’s Insurance Code.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit surety bonds throughout Arkansas and nationwide.
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