The Maryland Insurance Administration Surplus Lines Bond is required by the Insurance Commissioner of the State of Maryland in the amount of $10,000. The bond states that the bondholder shall conduct his business as a Surplus Lines Producer in accordance with the provisions of the Insurance Laws of Maryland and shall remit promptly the taxes provided therein, section 324. Surety1 can write this bond for $100 for the year with just a filled out application!
What are the requirements that need to be submitted in order to be a Surplus Lines Broker in the state of Maryland?
For all who would like to get a Surplus Lines Broker Certificate, you need to make sure that you have an active producer license for the insurance you will be selling. Then you must submit the NAIC uniform application, accompanied by the fee of either $100 or $200.
Resident applicants must also submit a $10,000 surety bond. Make sure that the company issuing this surety bond is licensed to do business in the state of Maryland.
Where can I get a Maryland Surplus Lines Bond?
For all your surety bond needs, Surety Solutions Insurance Services (Surety1) can take care of you. With only a completed online application, we can usually get your surety bond approved within one business day.
Our licensed agents will call you once you submit the application. They will provide you with a free, no-obligation quote. From there, you just need to pay the bond premium and sign all necessary paperwork. Then your bond will be on its way to you as soon as possible. You have the option of receiving your surety bond through USPS Priority Mail or overnight delivery.
Surety1 has been issuing surety bonds in Maryland since 2003, but we are licensed for all 50 states. You can be sure of our outstanding service as we have been maintaining an A+ rating from the Better Business Bureau.