The Florida Department of Financial Services requires the Florida Title Agency Surety Bond, for any entity wishing to obtain a Florida Title Agent License.
Section 626.841 of the Florida Statutes defines a “TITLE INSURANCE AGENCY” as an “insurance agency under which title insurance agents and other employees determine insurability in accordance with underwriting rules and standards prescribed by the title insurer represented by the agency, and issue and countersign commitments, endorsements, or policies of title insurance, on behalf of the appointing title insurer. The term does not include a title insurer.”
In order to obtain a Title Insurance Agency License, whether resident or non-resident, the following requirements must be satisfied:
This surety bond must be in place for the benefit of any appointing title insurer damaged by a violation by the title insurance agency of its contract with the appointing title insurer.
Essentially, if a customer of the title agency feels their contract was infringed upon, they can make a claim on the title agent’s Florida Title Agency Surety Bond. If the claim is settled, the surety company (the company who issued the bond) will pay out the claim, however the bond principal (the title agency in this case) must repay the surety company for any losses incurred from the claim.
In order to obtain this bond, simply fill out our free online application! One of our licensed agents will contact you within one business day with a quote for the price to obtain your bond (the “premium”). If you choose to move forward after receiving your quote, we will have you sign any necessary paperwork and remit the premium payment, at which time we will ship your Florida Title Agency Bond to you via USPS Priority Mail (with overnight shipping options also available).
Why choose Surety1?
At Surety Solutions Insurance Services, Inc. (Surety1), our agents work with over a dozen “A” rated surety markets to ensure we are finding you the lowest price for your bond. We’ve been issuing surety bonds since 2003 and our quality, reliable service has led us to an A+ rating by the Better Business Bureau! Licensed in all 50 states.