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Georgia Surplus Lines Broker Bond

Georgia Surplus Lines Broker Bond

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

A Surplus Lines Broker's Bond is required for those applying or who have previously applied to the Commissioner of Insurance of the State of Georgia for a license to place surplus lines of insurance with not admitted insurers. The surplus line bond requirement is pursuant to the provisions of the Official Code of Georgia Annotated (sections 33-5-20 through 33-5-35), as amended.

The surety bond is conditioned upon compliance with the requirements the Official Code of Georgia and the annual and quarterly filing of a sworn statements of the gross insurance premiums, and gross premiums returned for cancelations. Additionally, the principal is obligated to pay to the Commissioner of Insurance of the State of Georgia the required percentage of gross premiums, less return premiums, and to properly account to all customers for monies or premiums collected in conjunction with insurance transactions.

How Much Will My Surety Bond Cost?

Take 2 minutes to provide the basic information required to get the best rates for your Georgia 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.

What Does the Bond Protect Against?

The Georgia Surplus Lines Broker's Bond is in a penal sum of $50,000 and its purpose is to ensure compliance with insurance placement protocols as outlined in Georgia Code Section 33-5-25, remittance of taxes provided in Georgia Code Section 33-5-31, proper accounting to anyone requesting to obtain insurance for funds or premiums collected in connection with such insurance, and accordance with this title.

What is Needed to Obtain My License or Registration?

  • Completed Resident Insurance License Application
  • Surplus Lines Broker Surety Bond in the amount of $50,000
  • Completed Citizenship Affidavit Form GID-276-EN verifying lawful presence of all new and renewal applicants 
  • All New Applicants, excluding active licensees and individuals applying for reinstatement within 6 months of expiration date, must submit electronic fingerprints for a criminal background check. Fingerprinting information can be found on the department’s website.
  • Payment of application fee to the Georgia Insurance Department

List of Georgia surety bonds.

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