Escrow agents in Nebraska are licensed and regulated by the state’s Department of Insurance. In addition to meeting other licensing requirements, Nebraska escrow agents are required to furnish evidence of a $100,000 surety bond.
The escrow agent surety bond form is also referred to as a Title Insurance Bond.
Qualifying for the $100,000 Nebraska escrow agent bond involves completing a short surety bond application, which we can begin with you over the phone, but which will require your signature for review; and a credit report inquiry.
In order to be approved for this bond through our agency, an applicant will need to have good credit.
After review by an underwriter, approval for this surety bond will be with a premium of $500.
Once the premium is paid to our agency, we issue the bond to you immediately. The escrow agent bond is then mailed to you with our signature as Surety. Included in the mailing will be a Power of Attorney (POA) form. You will sign your bond as Principal and then file it along with the POA to the Department of Insurance.
At $500, the Nebraska escrow agent bond is issued for one year. The bond renews annually on the date of its issuance.
You may prepay your surety bond for up to 3 years, thereby offering you a savings over year to year renewal of the bond’s premium.
The premium prepayment options and savings are as follows:
Your escrow agent bond is a financial guarantee to ensure that you will apply all funds as received and that you will honor all contractual duties.
More specifically, the bond is a guarantee of your compliance with §44-19, 109 of Nebraska’s statutes.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit bonds throughout Nebraska.
Our agency also provides surety bonds nationwide.
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