Indiana Discount Medical Program Organization Bond
AmeriPro Surety Bonds | 844-589-9732
Department of Insurance
The Indiana Department of Insurance is the obligee (that is, they are the entity requiring the surety bond) for licensed discount medical programs.
Our agency offers streamlined processing for this surety bond and 3 different surety bond terms.
The Surety Bond’s Amount and Qualifying
The Indiana discount medical program organization bond is a $35,000 surety required by the Department of Insurance.
Qualifying for this bond is easy; there is no credit inquiry. You will merely be requested to do the following:
Once a surety bond application is completed (which can be done all at once time with an agent), and the premium is paid, the bond is issued to you immediately.
This surety bond is typically active for one year from the date of issuance.
However, our agency also offers several payment options for your Indiana discount medical program organization bond. Prepaying this bond offers a significant savings over year-to-year renewals.
The premium breakdown and terms are as follows:
- For one year, this surety bond is $350;
- If prepaid for two years, the bond is $630;
- If prepaid for 3 years, this surety bond costs just $910.
The Indiana discount medical program organization surety bond is a financial guarantee that ensures your compliance with all laws and regulations which govern your profession.
More specifically, this surety bond ensures that you will fulfill all obligations to insurers and self-insurers, and that, moreover, you will pay all insurers and self-insures any amounts owed.
As principal of this surety bond, you agree that you will indemnify the surety for any costs and claims paid against your bond; except that, the amount, excluding attorney fees and other costs, will not exceed the amount of this bond.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, and fiduciary surety bonds throughout Indiana.
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