The Maryland Title Producer Bond is required by the Maryland Insurance Administration in the amount of $150,000. The bond ensures that the bondholder will account for and pay over all money belonging to a person or corporation. During the course of providing service as a licensed Title Insurance Producer. This includes escrow, closing, and settlement services.
Who is responsible for Licensing Title Producer’s In Maryland?
The Producer Licensing unit is part of Compliance and Endorsement. It oversees licensing for individuals and business entities engaged in insurance transactions. The unit is responsible for ensuring that licensees and registrants are in compliance with licensing laws and regulations.
The Maryland Title Producer Bond is one of the licensing requirements.
What are other licensing requirements for a Title Producer in Maryland?
An Individual Producer needs to complete and submit the application located in the Individual Application Packet. In addition, a payment of $54 for the application fee. Business Entity Producer’s need to complete and submit the application located in the Firm Application Packet. A $54 application fee must be included.
Where can I get a Maryland Title Producer Bond
Surety Solutions Insurance Services, Inc (Surety1) can assure you that we offer some of the lowest premium rates in the market. This is made possible through our partnership with several A-rated surety companies.
First, start the process by completing our free online application form. After that, one of our licensed agents will contact you with a no-obligation quote on the price you need to premium. Next, when you are ready to proceed, we will collect the premium payment and have you sign the agreement. Lastly, your Maryland Producer Bond will be mailed to you via USPS Priority Mail. Overnight delivery is also an option.
Surety1 was established in 2003 and is licensed to do business in all 50 states. We maintain an A+ rating from the Better Business Bureau for our excellent service.