1 (844) 589-9732

Candidates for the Iowa third party administrator bond, if approved, will pay just 1% of the bond amount required. Please call AmeriPro Surety Bonds today at 844-589-9732.

Iowa Third Party Administrator Bond |

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Third Party Administrator Businesses – Iowa

 

 

 

Iowa third party administrator companies are regulated by the state’s Insurance Division. A requirement of Iowa TPA’s is that a surety bond is obtained based on the following:

  • Provide evidence of purchase of a minimum $50,000 surety bond, up to a maximum $1,000,000 surety bond;
  • The surety bond amount is determined by 10% of a TPA’s average daily balance in the prior calendar year, subject to the minimum/maximum amounts listed above.

 

 

Qualifying and the Premium

 

 

 

For applicants who require a $50,000 Iowa third party administrator bond, the bond is issued immediately after completion of an application and payment of the $500 premium. For this $50,000 surety bond amount alone, there is neither a credit inquiry nor review by an underwriter; the bond is issued to you immediately.

All other surety bond amounts will require the same surety bond application, along with a credit review. If you require a particularly high surety bond amount, in addition to the application, you may be asked to provide a financial statement.

Approval for any amount above $50,000 to $1,000,000 is based upon good credit; the premium is 1% of the bond amount required.

 

 

 

Bond Term

 

 

 

The Iowa third party administrator bond is issued for a standard term of one year.

The option exists to prepay your bond for up to 3 years; however, before exploring that option, you may wish to consider that you will likely require a new bond amount upon the expiration of your current surety bond.

 

 

 

Purpose of Your Surety Bond

 

 

 

The purpose of your Iowa TPA surety bond is to serve as a financial guarantee that your business will be in compliance with all rules and statutes governing TPA in Iowa as provided by the state’s Insurance Code.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit bonds throughout Iowa. Our agency also provides surety bonds nationwide.

Please call our agency today at:

 

844-589-9732

 

Or, you may fill out the form below and an agent will contact you…

 

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