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Surplus Lines Broker Bonds
The governing body will require an insurance broker to have this type
of bond in place. It covers the operations of the insurance broker and
ensures they stay within the guidelines. Should the broker be found to
be negligent in any way, a claim may be made against the surplus lines
broker bond.
The current market
This is a fairly rare bond compared to many others of its type. Thus
there are very few surety providers that cater for it. However there are
a handful that deal specifically with surplus lines broker bonds. There
has been little change in how the bonds are priced and dealt with in
recent times.
Does your agency have a special program available for surplus lines
broker bonds?
We can provide specialty programs for all manner of clients with less
than perfect credit or histories. We also cater for principals with
excellent credit histories who will qualify for the most competitive
rates. |
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