How much does an insurance broker surety bond cost in Oklahoma?
The Oklahoma Insurance Department requires a $5,000 surety bond for life or accident and health insurance brokers.
SuretyBonds.com issues these bonds instantly for just $100! No credit check is required, so everyone qualifies for this low rate. Simply click Buy Now to purchase your bond online using our secure bond checkout. In just a few minutes you can be on your way to being bonded as an Oklahoma insurance broker.
|Bond Type||Bond Amount||Cost|
|$5,000 Insurance Broker's Bond||$5,000||$100|
Why do I need this bond?
By posting an Oklahoma insurance broker’s surety bond, principals (brokers) pledge to adhere to the terms set in Section 1464C, Title 36 of the Oklahoma Statutes Annotated. Specifically, this bond guarantees the full accounting and due payments to the person or company entitled to them as part of an insurance transaction at the hands of the broker.
What’s the fine print?
Oklahoma insurance broker’s bonds are continuous until canceled. If the surety chooses to cancel the bond, 30 days written notice must be given to the insurance broker and the Commissioner of Insurance.
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