Research On Insurance Broker Bond
California Insurance Brokers are required underneath the Insurance Code Sections 1662-1665 to file a California Insurance Broker Bond as a situation of licensure. My partner and I simply opened a enterprise, the legal operation of which required a bond. Having just entered into our industry, we had questions alongside the way. They have been at all times out there, at all times promptly answered emails and returned calls, and answered each query we had. Platinum Bonds is a good skilled firm and we could not have asked for better service. Highly suggest.
Providing Nice Rates for Surety Bonds with Good Credit & Good Rates for Surety Bonds with Unhealthy Credit.
Insurance Broker Bond, A Guide
We write Insurance Broker Bonds in Washington. All states – aside from Delaware, Ohio and Vermont – require auto dealers to buy some kind of surety bond.
Most states require that construction professionals purchase surety bonds before they can be legally licensed.
This bond protects individuals who may be harmed by the actions of a licensed insurance broker. It’s required by the state department of insurance upon making use of for an insurance broker license and throughout the period of the license.
Southern California Insurance Brokerage (SCIB) is an independent insurance brokerage that has been offering Southern California businesses and organizations with superior insurance products and surety bond providers since 1972. If the declare is proven, the affected parties might be awarded monetary compensation. The reimbursement will be any amount up to the maximum penal sum of your bond. At first, it is your surety that takes care of the costs. However, you are liable to repay it soon after. That is why it’s imperative to keep away from bond claims, since they will hurt your small business financially and might be an obstacle for getting bonded in the future.
By possessing a California Insurance Broker Bond you might be telling your Obligee that you could be trusted as a Principal and that you stand behind your corporation selections.
When Referring To Insurance Broker Bond
We offer Surety Bonds to people, companies & insurance companies. Nothing herein shall be deemed a waiver or estoppel by Philadelphia Indemnity Insurance Firm of its rights or defenses available beneath the bond and applicable law, or to contest the validity of any declare. The data contained herein relies upon obtainable information and belief of the surety, and in no way an affirmation or opinion of the financial condition of its principal.