(844) 589-9732

South Carolina Third Party Administrator Bond

July 15, 2019

The $75,000 South Carolina third party administrator surety bond may cost you as little as 1% annually. The bond is issued for a one year term. Our agency works for you to find you the best surety bond pricing. Please call AmeriPro Surety Bonds today at 844-589-9732.

South Carolina Third Party Administrator Bond |

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Third Party Administrators – South Carolina

 

 

 

Third party administrators in South Carolina are regulated by the state’s Department of Insurance.

The bond requirement of TPAs operating in South Carolina is alternately referred to as a South Carolina insurance administrator bond. Both terms can be used interchangeably and mean the same thing.

Our agency works to find you the fairest pricing for your surety bond.

 

 

 

TPA Surety Bond – Amount and Estimated Premium; Qualifying; Premium

 

 

 

The South Carolina third party administrator bond is a $75,000 surety bond required of those TPA companies operating in the state.

As an applicant for this surety bond, you will complete a standard surety bond application and undergo a business and/or professional credit check inquiry. Applicants who have been in business for at least 3 years, and who also meet other requirements, may qualify to bypass a credit inquiry.

The estimated premium for this third party administrator bond is typically between 1% to 1.5% annually.

 

 

 

Premium Prepayment Options

 

 

 

The South Carolina third party administrator bond is issued for a term of one year. For those who qualify at 1% premium, we offer the ability to prepay this surety bond for 2 or 3 years. While it is entirely your decision, prepayment of the premium offers a decent savings over year to year renewal of the bond’s premium amount.

The premium prepayment options are as follows:

  • Prepayment for 2 years is $1350, (a $150 savings);
  • Prepayment for 3 years is $1950 (a $300 savings).

 

 

Purpose of this Surety Bond

 

 

 

The South Carolina insurance administrator bond is a financial guarantee which does the following:

  • Ensures your compliance with Act 133 of 1985;
  • Acts as a guarantee that you will remit payments received to an insurer or person;
  • And protects against acts of misappropriation of funds received.

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit bonds throughout South Carolina.

Our agency also provides surety bonds nationwide.

Please call us today at:

 

844-589-9732

 

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