This bond is required by the South Carolina Department of Insurance under Section 38-51-30 of the Code of Laws of South Carolina. The bond states that the bond holder, or Principal, should pay any person who shall sustain loss as a result of (a) the Principal’s violation of or failure to comply with the requirements of Act 133 of 1985, as amended, (b) the Principal’s failure to properly transmit any payment received for transmission to an insurer, or other person, (c) the Principal’s misapplication or misappropriation of funds received by it, or (d) any act of fraud or dishonesty committed by the Principal in connection with the administration of an insurance benefit plan. The required bond amount is $75,000. To determine the cost of this bond, complete our easy online application.
To Acquire a South Carolina Insurance Administrator Bond Today:
- Complete an online application.
- One of our expert commercial surety agents will call and email you with the firm quote and an agreement to sign.
- Provide payment and your signed agreement, then you will receive your bond!
** all bonds are subject to the underwriting terms and conditions of the issuing company.