{"id":1029,"date":"2013-05-03T02:44:54","date_gmt":"2013-05-03T02:44:54","guid":{"rendered":"http:\/\/suretyone.com\/blog\/?p=1029"},"modified":"2017-01-03T16:20:35","modified_gmt":"2017-01-03T16:20:35","slug":"georgia-premium-finance-company-bond","status":"publish","type":"post","link":"https:\/\/suretyone.com\/blog\/georgia-premium-finance-company-bond\/","title":{"rendered":"Georgia Premium Finance Company Bond"},"content":{"rendered":"

Insurance intermediaries that finance insurance premium must provide a Georgia premium finance company bond<\/a><\/strong>, among other specific licensing requirements. \u00a0Georgia las defines an\u00a0“insurance premium finance company” as a person engaged in the business of entering into insurance premium finance agreements\u00a0by which an insured or prospective insured promises to pay to a premium finance company the amount advanced or to be advanced under the agreement to an insurer or to an insurance agent or insurance broker in payment of premiums on an insurance contract together with a service charge. \u00a0The Georgia insurance premium finance company bond<\/a><\/strong>\u00a0is one of two methods of complying with the states solvency requirements for premium finance companies. \u00a0Georgia Code\u00a0\u00a7 33-22-5, states that each premium finance company must\u00a0deposit with the Commissioner<\/a> securities acceptable to the Commissioner in the amount of $25,000.00, or file a Georgia premium finance company<\/strong>\u00a0bond made payable to the Commissioner, executed by the applicant as principal and by a corporate surety authorized to do business Georgia in the penal sum of $25,000.00, and conditioned that the licensee will conduct his business in accordance with Title 33, Chapter 22 and the laws of Georgia. \u00a0The Georgia premium finance company bond<\/strong> also guarantees that the licensee will properly account for all moneys collected in connection with his or her premium finance business. The bond shall remain in full force and effect until the surety is released from liability by the Commissioner or until the bond is canceled by the surety. \u00a0There is a thirty day cancellation provision in the bond form. \u00a0Each premium finance professional should carefully read the finance agreement and record keeping provisions of the statute in order to fully understand what the Georgia premium finance company bond obligation encompasses.\u00a0Georgia surety leader<\/strong>,\u00a0Surety One, Inc.<\/a>\u00a0specializes in bonding for the insurance sector.\u00a0We offer bond terms to ALL applicants regardless of credit and financial statement condition. \u00a0\u00a0We also offer superlative\u00a0fidelity bond<\/a>\u00a0coverages to protect against losses due to employee dishonesty.\u00a0Visit\u00a0SuretyOne.com<\/a>, call\u00a0(787) 333-0222<\/span>\u00a0or\u00a0(800) 373-2804<\/span>, or email\u00a0Underwriting@SuretyOne.com<\/span>\u00a0for a\u00a0Georgia premium finance company bond<\/strong>\u00a0application or information about\u00a0premium finance company bonds\u00a0in any state where you wish to obtain an operating authority.<\/p>\n","protected":false},"excerpt":{"rendered":"

Insurance intermediaries that finance insurance premium must provide a Georgia premium finance company bond, among other specific licensing requirements. \u00a0Georgia las defines an\u00a0“insurance premium finance company” as a person engaged in the business of entering into insurance premium finance agreements\u00a0by… Continue Reading →<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[139],"tags":[1270,1269,1271,1272],"yoast_head":"\nGeorgia Premium Finance Company Bond • Surety One, Inc.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/suretyone.com\/blog\/georgia-premium-finance-company-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Georgia Premium Finance Company Bond • Surety One, Inc.\" \/>\n<meta property=\"og:description\" content=\"Insurance intermediaries that finance insurance premium must provide a Georgia premium finance company bond, among other specific licensing requirements. \u00a0Georgia las defines an\u00a0“insurance premium finance company” as a person engaged in the business of entering into insurance premium finance agreements\u00a0by... 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