Vermont Managing General Agent Bond
AmeriPro Surety Bonds | 844-589-9732
Licensing of Managing General Agents
The Vermont Department of Financial Regulation requires both resident and non-resident managing general agents to file a $20,000 surety bond, in addition to meeting other requirements.
These other requirements include the completion of a NAIC application form.
The surety requirement will likely be the quickest part of your licensing process.
Qualifying and the Premium
You are automatically approved for the $20,000 Vermont managing general agent bond. There is no credit check for qualifying, and the premium is just $200 annually.
When you call is, we’ll just ask you the following:
Your name, address, and phone number as it should appear on your managing general agent bond. After payment of the $200 premium, our agency issues you your bond along with a Power of Attorney form.
It is the original bond that you’ll file with the state. Their filing address is:
State of Vermont, Commission of Banking & Insurance
89 Main Street
Montpelier, VT 05620
Premium Prepayment Options
The premium for your Vermont managing general agent bond may be prepaid up to 3 years, which offers you a savings over annual renewals (at $200 premium, your bond will renew annually).
The premium prepayment option and savings are as follows:
- If prepaid for 2 years, the premium is $260, a $40 savings;
- If prepaid for 3 years, the premium is $520, an $80 savings.
Purpose Of Your Surety Bond Requirement
The insurance managing general agent bond is a finance guarantee of your compliance with Title 8 of the Vermont Statutes, as amended.
The bond further guarantees that you’ll pay any money owed to the Commissioner of Banking, Insurance, and Health Care Administration.
AmeriPro Surety Bonds provides license and permit bonds throughout Vermont and nationwide.
Please call our agency today at:
Or, you may fill out the form below and a Surety Agent will contact you…