The North Carolina Broker Insurance Bond is required by the Department of Insurance for individual applicants applying for a Broker license. The bond states that the bond shall be conditioned on the accounting by the broker:
- To any person requesting the broker to obtain insurance for money or premiums collected in connection therewith,
- To any licensed insurer or agent who provides coverage for such person with respect to any such sums of money or premiums, and
- To any premium finance company or to any association of insurers under any plan or plans for the placement of insurance under the laws of North Carolina which afforded coverage for such person with respect to any such sums of money or premiums.
The application may be done through the NIPR website. Please take note that those who are applying for a broker license must also hold an active insurance producer license. All applicants must at least be 18 years old. Aside from submitting a completed application form, they must take all the required licensing examination and education requirements. More importantly, applicants for the Broker license must submit a $15,000 surety bond. This surety bond must be issued by a surety company licensed to do business in the state of North Carolina.
How do I obtain a North Carolina Broker Insurance 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.