New Hampshire Third Party Administrator Bond Guide
If you’re applying for a third party administrator registration certificate in New Hampshire, you’ll likely need this surety bond.
Bond Overview
- Purpose: To protect insurance plan beneficiaries from potential fraud or theft
- Who Needs It: Outsourced administrative service providers for company insurance plans
- Regulating Body: The New Hampshire Insurance Department
- Required Coverage: $100,000
- Premium Rate: 1–10% based on credit score
Learn all about the bond requirements and process in this guide.
What Is a New Hampshire Third Party Administrator Bond?
A New Hampshire third party administrator (TPA) bond ensures insurance administrators comply with laws and industry regulations. It protects organizations from financial harm if a TPA commits theft, fraud or acts unethically.
The New Hampshire Insurance Department requires this bond as part of the licensing process for third party administrators in the state.
How Much Do Third Party Administrator Bonds Cost in New Hampshire?
New Hampshire third party administrator bonds cost a small percentage of the bond amount, typically 1–10% based on credit score.
For example, an applicant with excellent credit could pay $1,000 for the $100,000 bond. Apply for your free, personalized 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 New Hampshire Insurance Department requires this bond for any person who underwrites, adjusts or settles claims, or collects premiums from state residents related to self-funded life, health or annuity health coverage plans.
Bonding and registration requirements are exempt for certain parties. Verify if you need a bond with the Insurance Commissioner before purchasing.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a New Hampshire 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 the bond with the New Hampshire Insurance Department as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a New Hampshire Third Party Administrator Bond Work?
As with all surety bonds, a third party administrator bond creates a legal contract between three parties:
- Principal: You, the third party administrator filing the bond
- Obligee: The New Hampshire Insurance Department requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding all provisions of New Hampshire Statutes Chapter 402-H.
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 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.
