{"id":487,"date":"2013-03-06T03:36:24","date_gmt":"2013-03-06T03:36:24","guid":{"rendered":"http:\/\/suretyone.com\/blog\/?p=487"},"modified":"2017-01-03T16:20:43","modified_gmt":"2017-01-03T16:20:43","slug":"utah-third-party-administrator-bond","status":"publish","type":"post","link":"https:\/\/suretyone.com\/blog\/utah-third-party-administrator-bond\/","title":{"rendered":"Utah Third Party Administrator Bond"},"content":{"rendered":"<p>An individual or business entity that chooses to operate in Utah must provide the <a title=\"UT DoI\" href=\"https:\/\/insurance.utah.gov\/\" target=\"_blank\">Insurance Commissioner<\/a> a <strong><a title=\"Surety One commercial surety page\" href=\"https:\/\/suretyone.com\/commercial-surety-bonds\" target=\"_blank\">Utah third party administrator bond<\/a><\/strong>. \u00a0A third party administrator, or &#8220;<strong>TPA<\/strong>&#8221; defined by Utah stature is a person who collects charges or premiums from or for consideration, adjusts or settles claims of residents of the state in connection with insurance coverage, annuities, or service insurance coverage. \u00a0<a title=\"UT third party administrator law\" href=\"http:\/\/www.le.utah.gov\/UtahCode\/section.jsp?code=31A-25\" target=\"_blank\">Code Section 31A-25-203<\/a> requires licensing and a TPA bond. \u00a0The <strong><em>third party administrator bond<\/em><\/strong> must be in an amount no less than ten percent of the total funds handled by the administrator, with a maximum of $500,000. \u00a0The <strong>surety bond<\/strong> obligation guarantees that the TPA will honestly and faithfully fulfill all legal duties and properly account for all funds under its control as a Third Party Administrator, pay any judgment obtained by or in favor of participants in or beneficiaries of plans administered by the TPA which arise from the negligence or culpable acts of principal or any employee or agent of principal in connection with its activities as a licensee.\u00a0<a title=\"Surety One\" href=\"https:\/\/suretyone.com\/\" target=\"_blank\">Surety One, Inc.<\/a>, will issue these for experienced applicants regardless of the principal\u2019s credit condition. We also offer superlative\u00a0<a title=\"Surety One fidelity bond page\" href=\"https:\/\/suretyone.com\/fidelity-bonds\" target=\"_blank\">fidelity bond<\/a>\u00a0coverages to protect against losses due to employee dishonesty. \u00a0Visit the nation\u2019s surety leader at\u00a0<a title=\"Surety One\" href=\"https:\/\/suretyone.com\/\" target=\"_blank\">SuretyOne.com<\/a>, call\u00a0<span style=\"color: #ff0000;\">(787) 333-0222<\/span>\u00a0or\u00a0<span style=\"color: #ff0000;\">(800) 373-2804<\/span>, or email\u00a0<span style=\"color: #ff0000;\">Underwriting@SuretyOne.com<\/span>\u00a0for a\u00a0<strong>Utah third party administrator bond<\/strong>\u00a0application or information about any\u00a0<strong>TPA bond<\/strong>\u00a0need in any state.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An individual or business entity that chooses to operate in Utah must provide the Insurance Commissioner a Utah third party administrator bond. \u00a0A third party administrator, or &#8220;TPA&#8221; defined by Utah stature is a person who collects charges or premiums&#8230; <a class=\"more-link\" href=\"https:\/\/suretyone.com\/blog\/utah-third-party-administrator-bond\/\">Continue Reading &rarr;<\/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":[578,575,576,577],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.7.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Utah Third Party Administrator Bond &bull; 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\/utah-third-party-administrator-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Utah Third Party Administrator Bond &bull; Surety One, Inc.\" \/>\n<meta property=\"og:description\" content=\"An individual or business entity that chooses to operate in Utah must provide the Insurance Commissioner a Utah third party administrator bond. \u00a0A third party administrator, or &#8220;TPA&#8221; defined by Utah stature is a person who collects charges or premiums... 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