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South Carolina Surplus Lines Broker Bond

South Carolina Surplus Lines Broker Bond

www.suretybondsdirect.com/surety-bond/surplus-lines-broker-or-agent-bond/sc

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

The South Carolina Department of Insurance requires that resident Surplus Line Brokers post a $10,000 surety bond for the benefit of any person insured or any insurance customer who is damaged as a result of the brokers violation of or failure to comply with any insurance law or regulation of the state of South Carolina. Other actions covered by the bond include the broker's failure to properly transmit any payment received from a customer and any act of fraud committed in connection with an insurance transaction.

How Much Will My Surety Bond Cost?

Take 2 minutes to provide the basic information required to get the best rates for your South Carolina 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 is Needed to Obtain My License or Registration?

Regulations and requirements pertaining to Surplus Lines Brokers can be found in Title 38, Chapter 45 of the South Carolina Code of Laws. Only individuals may be licensed as brokers in South Carolina. Licensing steps for Resident Surplus Lines Brokers are as follows;

     




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