Nevada Third-Party Administrator Bond Guide
If you’re applying for an third-party administrator license in Nevada, you’ll likely need this surety bond.
Bond Overview
- Purpose: To protect organizations from financial harm if a third-party administrator breaks the law
- Who Needs It: Providers that offers administration services for another company’s insurance plan
- Regulating Body: The Nevada Division of Insurance
- Required Coverage: $100,000
- Premium Rate: $1,000–$5,000, credit-based
Learn all about the bond requirements and process in this guide.
What Is a Nevada Third-Party Administrator Bond?
A Nevada third-party administrator bond ensures insurance administrators comply with laws and industry regulations.
The bond protects organizations from financial harm if a third-party administrator (TPA) commits theft, fraud or acts unethically.
How Much Do Third-Party Administrator Bonds Cost?
Nevada third-party administrator bonds cost a small percentage of the $100,000 coverage amount, typically $1,000–$2,000.
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 Third-Party Administrator Bond?
The Nevada Division of Insurance requires this bond as part of the licensing process for all third-party administrators in the state.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a Nevada third-party administrator 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 it with the Division of Insurance as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a Nevada TPA Bond Work?
A third-party administrator bond creates a legal contract between these three parties:
- Principal: You, the administrator filing the bond
- Obligee: The Nevada Division of Insurance requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of NRS 683A.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you must ultimately refund the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your third-party administrator bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
