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:
Regardless of the amount, qualifying for the New Hampshire third party administrator bond involves:
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
Concord, NH 03301
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).
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.
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.
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