1 (844) 589-9732 info@ameriprosuretybonds.com

Texas Reinsurance Intermediary Bond

The TX Department of Insurance requires reinsurance brokers to obtain a Texas reinsurance intermediary bond for $100,000, or, $250,000.  AmeriPro Surety Bonds provides both bonds as needed: 844-589-9732.

 

Texas Reinsurance Intermediary Bond |

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Reinsurance

 

 

 

Reinsurance is the process whereby insurance companies share risk with other insurance companies by purchasing policies which would limit any one insurance company’s financial exposure in case of loss.

 

 

 

Texas Reinsurance Brokers

 

 

 

Texas reinsurance brokers are governed by Chapter 4152 of the Texas Insurance Code.

Reinsurance brokers are overseen by the Texas Department of Insurance.

The Department of Insurance is also the obligee for the reinsurance bond.

That is, the Department requires a reinsurance broker or manager to post a bond in the appropriate amount; or, in lieu of a bond, errors and omissions insurance, as a prerequisite for licensing.

 

 

 

Texas Reinsurance Intermediary Bond: Amount

 

 

 

The Texas reinsurance intermediary bond is in one of two amounts:

  • An applicant who is a reinsurance broker will need to post a $100,000 surety bond;
  • An applicant who is a manager of reinsurance brokers will need to post a $250,000 Texas reinsurance intermediary bond.

 

 

Texas Reinsurance Intermediary Bond: Purpose

 

 

 

The Texas reinsurance intermediary bond protects is issued to the Department and protects others from wrongful, illegal, or fraudulent acts committed by a reinsurance broker in the course of their duties.

Of note is that this bond protects others from harmful acts committed by a reinsurance broker.

 

 

 

Texas Reinsurance Intermediary Bond: Premium

 

 

 

The amount a reinsurance broker applicant will pay for the surety bond will be dependent on the bond amount required and the applicant’s credit score.

Applicants with good credit may pay as low as 1% for either of the two bonds.

Applicants with poorer credit history may be required to pay more; however, AmeriPro Surety Bonds is confident that we are able to get any applicant bonded.

In cases where premiums may be unusually high, an applicant may qualify for premium financing which allows for a large down payment, and then additional payments over several months.

 

 

 

Becoming a Reinsurance Broker in Texas

 

 

 

Applicants interested in a Texas reinsurance broker license will need to do the following:

 

AmeriPro Surety Bonds

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency which provides license and permit, contractor, court, and fiduciary surety bonds throughout Texas — nationwide.

We are here to help you get the bond that you need at the best price.

 

 

 

Call our agency today at: 844-589-9732.

AmeriPro Surety Bonds

Our focus is exclusively surety bonds. We have two areas of concentration: YOU, our customer; and providing you with the surety bond that you need. Whether the bond is an "instant issue"; is for a contractor; a court bond; or one for a client with lower credit scores, AmeriPro Surety Bonds dedicates itself to providing our customers with a seamless, professional, and quick surety bond experience.

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