In South Carolina a company engaged in financing insurance premium must be licensed and provide a South Carolina premium service company bond. Essentially a premium FINANCE company surety bond, the obligation must be written in the amount of $50,000 and to the benefit of the South Carolina Director of Insurance. The bond guarantees that the premium finance company will at all times act in accordance with all of the provisions and requirements of Chapter 39 of Title 38, 1976 Code of Laws of South Carolina. Surety One, Inc., will issue these for experienced applicants regardless of the principal’s credit condition. We also offer superlative fidelity bond coverages to protect against losses due to employee dishonesty. Visit the nation’s surety leader at SuretyOne.com, call (787) 333-0222 or (800) 373-2804, or email Underwriting@SuretyOne.com for a South Carolina premium service company bond application or information about any premium finance company bond need in any state.
