The Maryland Insurance Adviser Bond is required by the Commissioner of the State of Maryland in the amount of $1,000. The bond guarantees that the bondholder will not be guilty of fraudulent or dishonest practice in connection with the transaction of business as Insurance Adviser during the term of their license.
What are the other requirements that must be met in order to be licensed as an Insurance Adviser?
- Resident applicants must pass either the Adviser Life/Health exam or the Adviser Property/Casualty exam. Contact PSI, the examination vendor, for test scheduling.
- Nonresident licenses will be issued on a reciprocal basis if the applicant is licensed as an insurance adviser in their home state.
- Nonresidents whose home state does not offer the license must take and pass the Maryland Adviser exam.
- Pay the applicable fee of either $100 or $200.
- Electronically submit the application through NIPR, the National Insurance Producer Registry portal.
- Mail paper applications to The Maryland Insurance Administration.
- Submit a completed NAIC Uniform Individual Application form
Why should I choose Surety1 for my Maryland Insurance Adviser Bond?
At Surety1, you can be assured of the lowest rates for your bond premium as we have partnered with over a dozen A-rated surety markets. Start the process by completing our easy-to-navigate, free online application form. After that, one of our surety agents will contact you with a no-obligation quote for the bond premium. Once you decide to move forward with us, you just need to pay the bond premium and choose your shipping options. You may choose to have your Maryland Insurance Adviser Bond mailed through USPS Priority Mail or overnight delivery.
Surety1 has been issuing surety bonds in the State of Maine since 2003. We continue to be rated A+ by the Better Business Bureau for our outstanding service.