The Arkansas Surplus Lines Broker Surety Bond is required by the Arkansas Insurance Department License Division. A surplus lines broker helps ensure that the broker will conduct business within the rules and regulations of the state; in doing so, the bond helps protect consumer’s investments.
What are the requirements in order to be a Surplus Line Broker in Arkansas?
You cannot work as a surplus line insurer in Arkansas until you have met the requirements. You must not only provide a Notice of Intent Letter, there must also be a Certificate of Compliance and a copy of the surplus line broker’s financial statement. One of the most important documents you need to present is a surety bond. This surety bond amount is $50,000.
This bond is needed in order to protect the public and not you. This assures the state that you will conduct your business as a surplus line broker professionally, following all the rules and regulations set by the state of Arkansas.
How can I get an Arkansas Surplus Lines Broker Surety Bond?
An Arkansas Surplus Lines Broker Surety Bond is fairly easy to obtain. Here at Surety Solutions Insurance Services, Inc, it may even take only a day to get approved.
To get started, just complete our easy to navigate online application form. Within one business day after you’ve submitted, you will hear from one of our surety experts. After you make the payment and sign some necessary paperwork, we will mail your Arkansas Surplus Lines Broker Surety Bond via USPS priority mail. Overnight delivery is also available.
Surety Solutions Insurance Services, Inc. (Surety1) is licensed in all 50 states to handle all your bond needs. The company has been providing surety bonds since 2003.and maintains an A+ by Better Business Bureau.
Friendly agents available to answer your questions.