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Alabama Surplus Lines Broker Bond

Alabama Surplus Lines Broker Bond

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Who Requires the Surplus Lines Broker Bond and Why Is It Needed?

The Alabama Commissioner of Insurance requires surplus lines brokers to post a $50,000 surety bond. Surplus lines brokers are classified as those who have applied to the Commissioner of Insurance of the State of Alabama for a license to procure insurance on insurance risks in this state of Alabama, in foreign and alien insurance companies not authorized to transact business in this State, in accordance with the provision of the Alabama Surplus Line Insurance Law, Article 2, Chapter 10, Title 27 (Section 27- 10-20 through 27-10-38) Code of Alabama 1975. The surety bond ensures faithful compliance with all requirements of the Alabama Surplus Line Insurance Law, and the rules and regulations prescribed by state laws pursuant to Section 27-10-31, Code of Alabama 1975.

How Much Will My Surety Bond Cost?

Take 2 minutes to provide the basic information required to get the best rates for your Alabama Surplus Lines Broker Bond. The quote request is free and there is no obligation to you. If you prefer, please call 1‐800‐608‐9950 to speak with one of our friendly bond experts. We can help guide you through the bonding process and identify the lowest cost in the market for your situation.

If you are interested in spreading out the cost of your bond over time, we can offer convenient financing plans for many types of surety bonds. More information will be provided with your quote.

List of Alabama surety bonds.

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