The Missouri Third Party Administrator Bond is required by the State of Missouri, Department of Insurance. The bond is required to be in the amount of $50,000. The bond states the bondholder shall fully comply with the provisions of the Laws of the State of Missouri, and shall report, under oath, to the Director of Insurance, before March 1 of each calendar year, the complete names and addresses of all insurers and trusts with which the third-party administrator had an agreement during the preceding fiscal years and all other related information requested by Section 376.1093, RSMO. The cost of this surety bond starts at a very low price for the year with only a filled out application online!
Other License Requirements
At initial registration the company must submit the following documents required, along with the application form.
- All basic organization documents of the administrator, including the Articles of Incorporation, Articles of Association, Partnership agreements, trade name certificate, trust agreements, shareholder agreement and all amendments to such documents.
- A currently dated Certificate of Good Standing and/or Fictitious Name Registration from the Missouri Secretary of State’s office.
- Bylaws, rules, and regulations of the administrator.
- Biographical affidavit from for all individuals who are responsible for the conduct of the affairs of the administrator Biographical affidavit.
- Annual audited financial statements or reports for the two most recent years.
- Plan of operation of the administrator.
- If the applicant will be managing the solicitation of new or renewal business, proof that it employs or has contracted with an agent licensed in this state for solicitation and taking of business.
- Notification of Insurer/Trust Agreements
- Surety Bond of $50,000
- TPA Questionnaire
- TPA 376.1092 Form
How do I obtain a Missouri Third Party Administrator Bond?
Complete our easy to navigate online application. Within one business day, one of our licensed agents will contact you with a no-obligation quote for your bond (the “premium”). Once any necessary paperwork is signed and the premium payment is processed, your surety bond will be shipped to you via USPS Priority Mail (overnight shipping options also available).
The surety bond experts at Surety1 are here to help you get bonded quickly and reliably. We work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau.