1 (844) 589-9732

The New Hampshire third party administrator bond is offered for 1% of the amount required as an annual premium. Please call AmeriPro Surety Bonds at 844-589-9732.

New Hampshire Third Party Administrator Bond

AmeriPro Surety Bonds | 844-589-9732

 

 

 

New Hampshire Third Party Administrator License – Surety Bond

 

 

 

New Hampshire third party administrators are regulated by the state’s Insurance Department. A condition of licensing is that TPA’s furnish evidence of a surety bond according to the following statutory formula:

  • The greater of $100,000 surety bond;
  • Or, 10% of the administrator’s average daily balance held in the prior calendar year. The NH TPA surety bond has a maximum amount of $1,000,000.

 

 

 

Qualifying and the Premium

 

 

 

Regardless of the amount, qualifying for the New Hampshire third party administrator bond involves:

  • Completion of an application. We can begin the application with you over the phone; however, you will need to complete the application, sign it and have your signature witnessed. It does not need to be notarized;
  • Depending on the amount required, you may be asked to provide a financial statement. We will let you know;
  • An underwriter review. An underwriter review involves carefully examining your application. There is also a personal or business credit check. Good credit is required to be approved.

Depending on when the application is received, it will typically take a few hours to complete underwriting.

Upon approval from our underwriter, the premium will be 1% of the surety bond amount.

Once your bond is approved and the premium is paid, our agency issues the bond to you immediately and has it mailed to you for your signature as Principal and then for filing. Your surety bond will also include a Power of Attorney (POA) form that you’ll also need to file with the Insurance Department.

Their address is:

State of New Hampshire Insurance Department

21 S. Fruit Street

Suite 14

Concord, NH 03301

 

 

 

Surety Bond Duration

 

 

 

Your surety bond is active for a one year period and renews annually. Presumably you may require a different surety bond amount upon renewal based on the criteria mentioned above (i.e. the average daily balance from the prior calendar year).

 

 

 

Purpose of Your Surety Bond Requirement

 

 

 

The bond is a financial guarantee of your compliance with all rules and regulations involved in the profession of a TPA in New Hampshire. Relevant statutes include New Hampshire Revised Statutes Annotated RSA 402-H and Regulation 2300 of the state’s Insurance Code.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds provides third party administrator surety bonds nationwide.

We are also a provider of license and permit surety bonds in all 50 states.

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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