The National Association of Surety Bond Producers (NASBP) has released the industry’s first online continuing education course. The course, called “Commercial Surety Fundamentals,” centers around license and permit, court, fiduciary, public official and miscellaneous bonds.
NASPB created the course because surety providers generally make higher commissions on commercial bonds than on contract bonds.
According to the NASBP website,
“The National Association of Surety Bonds Producers (NASPB) has partnered with WebCE, a leading nationwide provider of Continuing Education for insurance professionals to provide an online Commercial Surety Fundamentals course. CE credits have been applied for in all states an will be available as they are approved. The sane course is also available as a non-CE training course.”
So far most of states have determined that the course content fulfills the continuing education requirement for licensed surety providers. Hours required for licensing vary by state, from five hours for a Washington surety bond license to 10 hours for a Texas surety bond license. Official approval is still pending in a few states.
The course costs $189 and consists of four separate chapters:
- Commercial Surety Fundamentals
- Evaluating Risk and Exposure
- Underwriting the Principal
- Professional Bond Agency Responsibilities
NASBP and WebCE designed the course so that surety bond professionals could work at their own pace. Individuals have a full calendar year to complete the course, which includes passing a comprehensive exam.
Those interested in taking the course can register on the NASPB website.
To learn more about commercial surety bonds, visit the SuretyBonds.com commercial bonds page.