A surplus lines broker bond is a specific surety bond required by many state departments of insurance. The license allows producers to offer surplus lines insurance. Surplus lines insurance refers to any instance in which the insurance is offered by an insurer that is not… Continue Reading →
On September 4th, 2018, the Small Business Administration announced its decision to decrease the fees associated with the SBA Surety Bond Guarantee Program (SBG). The fee amendment is the first adjustment in over twelve years. The SBA hope that the… Continue Reading →
A frustrating part of being a contract surety bond underwriter is finding oneself obligated to decline a performance bond to a contractor that appears to possess the prerequisite experience, expertise, character and financial strength to accomplish his or her project. The review… Continue Reading →
Suretyship has been around a LOOOOOONG time. There are records of surety bond accords that stretch back the the Code of Hammurabi. The first “modern” definition for suretyship in the United States was given by George Robert Wentz in the… Continue Reading →
The insurance industry employs about 2.7 million people in the United States alone. Women comprise about sixty percent of the industry. When insiders consider the history of insurance, many of us think of the Lloyd’s Coffee House in London, where… Continue Reading →
An Illinois insurance producer bond is required for licensing as an insurance agent when the producer is acting in the capacity of an independent broker. Pursuant to Sec. 500-130, a producer who places insurance with an insurer with which he does not… Continue Reading →
In order to operate a household moving service in the State of Florida you must obtain the appropriate license and provide a Florida household moving service bond. Florida statute defines a “household moving service” as loading of household goods into a… Continue Reading →
To make high interest loans and accept goods in pawn in Oregon you must be licensed and provide an Oregon pawnbroker bond. The pawnbroker license is issued by the Department of Finance & Corporate Securities. ORS 726 and OAR 441-740 are the statutes which regulate pawnbrokers,… Continue Reading →
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