What is the purpose of a California Special Lines’ Broker Bond?
The California Special Lines’ Broker Bond is required by the state of California. If you want to be a Special Lines Broker in the state, you will need to be licensed. A surety bond is one of the requirements for licensing. A special lines broker is someone who does the following:
- Insurance against perils of navigation, transit or transportation upon hulls, freights or disbursements, or other shipowner interests
- Aircraft insurance
- Insurance on property or operations of railroads engaged in interstate commerce
This surety bond is related to the insurance industry and affects special lines brokers, ensuring that the broker will account to any person requesting him to obtain insurance, the moneys and premiums collected by him or his company (does not pertain to life insurance). The required bond amount is $10,000. The surety bond must be issued by a company licensed to do business in the state.
The application may be done by individuals or business entity. Application may be completed online through Sircon.
How do I obtain a California Special Lines’ Broker Bond?
Complete our easy to navigate online application. Within one business day, one of our licensed agents will contact you with a no-obligation quote for your bond (the “premium”). When the paperwork is finished and the premium is processed, your surety bond will be shipped. Either via USPS Priority Mail or your preferred expedited shipping method(for an additional cost).
The surety bond experts at Surety Solutions Insurance Services, Inc.(Surety1), are available to help you get bonded quickly and with ease. We work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau.