Why This Is Important, Surplus Lines Broker Bond

The Georgia surplus lines broker bond is a $50,000 surety bond required by the state’s division of insurance. Supplier Safety Group (DPG) may help you with acquiring this kind of bond. We offer a number of lines of surety companies for our dealership clients.

DIFS does not have statutory authority to situation a surplus lines tax refund, however credits may be taken for canceled business with supporting documentation. Declaration sheets should not required to be submitted with the report; however, they may be requested during a tax examination or an on-site audit.

Surplus Lines Broker Bond, A Guide For You

In 2014, our workplace licensed greater than 18,000 resident and non-resident insurance producers. The following licenses types are required to take examinations prior to applying for Georgia resident license: agent-residents, surplus lines, adjusters, and limited counselors-well being. These software will be deferred to the state for verification of exams and scores.

License filing – two year term: $646, the price for an individual surplus line broker who only transacts on behalf of a surplus line broker business entity.

Non-Resident Individuals – In accordance with the Beason-Hammon Taxpayer and Citizen Safety Act, Alabama is now required to confirm the citizenship of ALL CANDIDATES. Please submit proof of citizenship utilizing the link below. There are sixteen different identifiers, including your official driver’s license, any one of which can be utilized as proof. Your license will not be renewed till this documentation is obtained. If info will not be obtained inside 10 days your software will be rejected. Please observe: Charges paid are non-refundable.

Agency Licensing FAQs

The Georgia surplus lines broker bond is a $50,000 surety bond required by the state’s division of insurance. Any particular person, licensed as a surplus lines agent under s. 626.927 and 626.9272, Florida Statutes, shall be deemed a member of the Florida Surplus Lines Service Workplace (FSLSO), a not-for-profit, self-regulating affiliation. Upon receiving your Florida Surplus Lines Agent License, you have to to complete a New Agent Membership type by visiting: and deciding on “Register”. More information could be found by clicking right here.

The surplus lines market carries more danger than buying insurance in the admitted market; due to this fact the states imposed a second degree of licensing. A resident insurance producer will need to have their property and casualty insurance license before seeking licensure as a surplus lines producer. Surplus Lines Producer Licensing is obtainable to each residents and non-residents.

More Details Concerning Surplus Lines Broker Bond

In 2014, our office licensed greater than 18,000 resident and non-resident insurance producers. Notary Public Bonds – A public official surety bond required by many States to protect towards losses to the general public resulting from the improper actions, misconduct or mistakes made by a notary public. Notary bonds do not cover errors or omissions made by the notary.