Pursuant to Georgia statute, any person while licensed as a resident agent as to property, casualty, and surety insurance and who is deemed by the Commissioner to be competent and trustworthy may be licensed. A Georgia surplus lines broker bond is one of several requirements of the Commissioner for license issue. The obligations of the broker under the license and the provisions of the surety bond are specific. Pursuant to §33-23-37, "Prior to the issuance of the license or any renewal of the license, the applicant shall file a surety bond with the Commissioner or his or her successor in office, for the benefit of any person injured by the violation of the conditions contained within the undertaking.
The bond must be executed by the applicant as principal and by a corporate surety authorized to do business Georgia, in the penal sum of fifty thousand dollars ($50,000.00), and must guarantee that the broker will:
The general requirements for obtaining a license are simple. The Department of Insurance offers a brief punchlist, and we have hotlinked the necessary forms for your convenience.
Georgia surety bond leader, Surety One, Inc. is a specialist in the bonding needs of insurance professionals. We offer both surety and fidelity bonds needed by producers, independent brokers, surplus lines brokers and claims professionals in all fifty states, Puerto Rico and the U.S. Virgin Islands. Questions about this surety bond? Call us at (800) 373-2804, email us at Underwriting@SuretyOne.com or click here for live chat. A Georgia surplus lines broker bond is quick, easy and issued same-day.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.