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What is a Texas Reinsurance Intermediary Bond?
The Texas Reinsurance Intermediary Bond is required by the State of Texas Department of Insurance. In accordance with the Texas Insurance Code, Article 21.07-7 or by the Texas Administrative, Title 28, Section 19.403. The bond states that the bondholder shall discharge losses that result from any final judgment recovered against the Reinsurance Intermediary by a customer. The required bond amount is $100,000 for a Reinsurance Intermediary Broker or $250,000 for a Reinsurance Intermediary Manager.
- A completed application form
- Provide Certificate of Authority to do business in the state of Texas
- Provide Texas Franchise Tax Certificate if applicable
- Identify and provide all required information for all officers, directors, partner, members and designated employees
- Provide a copy of a fingerprint receipt, unless they are exempted
How do I obtain a Texas Reinsurance Intermediary Bond?
With Surety1, you will only need to pay a small percentage of the bond amount. To get this surety bond, we will need you to complete our online application form. With our quick and efficient service, your bond could be approved within just one business day. As soon as you pay the amount and sign the paperwork, we will send the surety bond via USPS Priority Mail or overnight delivery (for an additional cost). Surety1 has been issuing surety bonds in Texas since 2003 and we service all 50 states. We are also proud to maintain an A+ rating with the Better Business Bureau.