Arkansas Surplus Lines Broker/Producer Bond Guide
If you’re applying for a surplus lines broker or producer license in Arkansas, you’ll need this surety bond.
Bond Overview
- Purpose: To ensure brokers/producers remit tax payments to the state and act ethically
- Who Needs It: All surplus lines insurance brokers and producers in Arkansas
- Regulating Body: The Arkansas Insurance Department, Licensing Division
- Required Coverage: $50,000
- Premium Rate: $250 for a 1-year term
Learn all about the bond requirements and process in this guide.
What Is an Arkansas Surplus Lines Broker/Producer Bond?
An Arkansas surplus lines broker or producer bond ensures that insurance providers follow state regulations and make surplus lines tax payments.
The Arkansas Insurance Department, Licensing Division requires this bond as part of the licensing process for surplus lines brokers and producers in the state.
How Much Do Surplus Lines Broker/Producer Bonds Cost in Arkansas?
A $50,000 Arkansas surplus lines broker bond costs a flat rate of $250 for a 1-year term. Or, you can save 25% by selecting a multi-year term.
Click below to buy your bond in minutes!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Surplus Lines Broker/Producer Bond?
All brokers and producers that place coverage with non-admitted surplus lines insurers must be licensed and bonded with the Arkansas Insurance Department, Licensing Division.
The surety bond ensures payment of surplus lines taxes and adherence to other licensing regulations.
How Do I Get My Bond?
With SuretyBonds.com, you can buy your Arkansas surplus lines broker bond instantly online. Just enter your information and checkout in minutes.
We’ll email you the bond shortly after purchase. Be sure to file the bond with the Arkansas Insurance Department, Licensing Division as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does an Arkansas Surplus Lines Broker/Producer Bond Work?
As with all surety bonds, a surplus lines broker bond creates a legal contract between three parties:
- Principal: You, the surplus lines broker or producer filing the bond
- Obligee: The Arkansas Insurance Department, Licensing Division requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the bond terms and all applicable provisions of the Arkansas Insurance Code.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your surplus lines broker bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
