Florida Fiscal Intermediary Service Organization Bond Guide
If you’re applying for a fiscal intermediary services organization registration in Florida, you’ll likely need this surety bond.
Bond Overview
- Purpose: To ensure proper management and reimbursement of funds under fiscal management
- Who Needs It: Fiscal intermediary service providers in Florida
- Regulating Body: The Florida Office of Insurance Regulation
- Required Coverage: $10,000–$50,000 based on funds handled
- Premium Rate: 1–10%, credit-based
Learn all about the bond requirements and process in this guide.
What Is a Florida Fiscal Intermediary Service Organization Bond?
A Florida fiscal intermediary service organization bond ensures that organizations properly handle and manage fiscal and fiduciary funds on behalf of healthcare providers.
Organizations need a minimum $10,000 in bond coverage or 5% of fiduciary funds handled in the prior year.
How Much Do Fiscal Intermediary Service Organization Bonds Cost?
Florida fiscal intermediary service organization bonds cost a small percentage of the required bond amount, typically 1–10%.
Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Fiscal Intermediary Service Organization Bond?
The Florida Office of Insurance Regulation requires this bond as part of the licensing process for fiscal intermediary service organizations in the state.
This includes any organization that provides fiscal intermediary services to health care providers who contract with specific types of other health groups or organizations.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a Florida fiscal intermediary service organization bond.
Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll mail you the bond via your preferred shipping method. Be sure to file the bond with the Office of Insurance Regulation as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a Florida Fiscal Intermediary Service Organization Bond Work?
A fiscal intermediary service organization bond creates a legal contract between three parties:
- Principal: You, the intermediary filing the bond
- Obligee: The Florida Office of Insurance Regulation requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of Florida Statutes 641.316.
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 fiscal intermediary service organization bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
