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Virginia Title Insurance Settlement Agent Bond

Virginia Title Insurance Settlement Agent Bond

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Who Requires the Title Insurance Settlement Agent Bond and Why Is It Needed?

Title Insurance Settlement Agents required to register with the Virginia State Corporation Commission, Bureau of Insurance as a settlement agent pursuant to Chapter 27.3 of Title 55 of the Code of Virginia must also furnish and maintain a surety bond. The surety bond is conditioned on the principal's full compliance with the provisions of the laws of the Commonwealth of Virginia along with the rules, regulations, and any orders set out by the State Corporation Commission pertaining to Title Insurance Settlement Agents.

How Much Will My Surety Bond Cost?

Take 2 minutes to provide the basic information required to get the best rates for your Virginia Title Insurance Settlement Agent 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 surety bond protects the Commonwealth of Virginia and any aggrieved persons who may be damaged by principal's violations of laws, regulations, or orders as prescribed by the Chapter 27.3 of Title 55 of the Code of Virginia and the Virginia State Corporation Commission, Bureau of Insurance. In such instances, the state or other parties may maintain an action against this bond to recover monetary damages.




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