Georgia Surplus Lines Broker Bond |
AmeriPro Surety Bonds 844-589-9732
Georgia Surplus Lines Brokers
Besides the written examination and licensing fee of $600, Georgia surplus lines brokers must obtain a $50,000 surety bond and have the bond filed with the state’s Office of Insurance and Safety Fire Commissioner.
AmeriPro Surety Bonds offers you the Georgia surplus lines broker bond, taking only minutes to have issued for you.
Qualifying and the Premium
The $50,000 Georgia surplus lines broker bond is issued to you in minutes; you are automatically approved. There is no credit check for this bond, which makes the issuance much faster.
After completing an over the phone application with our agency, and paying the $500 premium, our agency issues this bond to you immediately for filing along with the Power of Attorney form. Once issued, the bond is sent to you for filing by the following business day. You’ll need to sign your bond as Principal before filing it with the state’s insurance department.
Additional Premium Payment Options
At $500 premium, the Georgia surplus lines broker bond is issued to you for one year and will renew on the anniversary of its issuance (for another $500 premium). You may prepay your surety bond up to 3 years. If you choose this options, it will save you over year to year renewals of your bond.
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.
Georgia Surplus Lines Broker Bond: The Purpose
In addition to acting as a financial guarantee that you will be in compliance with all laws and regulations regarding being a surplus lines broker, this bond also serves as a financial pledge for the following:
- That you will promptly pay any taxes owed in connection with your business;
- That the insurance you place will be in accord with Code Section 33-5-25;
- That you will give an accounting of any person who requests insurance and how those funds were used in the obtaining of insurance.
The bond’s purpose, therefore, is to protect others, both your customers and the state of Georgia,from any financial or other harm caused by the failure of a licensed surplus lines broker to comply with statutory regulations.
This is regardless of whether the harm was caused by negligence or malfeasance on the part of the surplus lines broker.
AmeriPro Surety Bonds is a surety bonds-only agency which provides license and permit, contractor, court and fiduciary surety bonds throughout Georgia.
Our agency also provides all types of surety bonds nationwide.
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