December 16th, 2020 Surety Bond Basics: Underwriting Guide As an insurance agent, you’re most likely familiar with the underwriting requirements for insurance products. The insurance company estimates the likelihood that an unexpected event will occur, and charges the insured a premium rate based on that assessment. Surety bond underwriting incorporates these principles, but unique to …
Insurance Agent’s Guide to Surety Bond Claims November 19th, 2020 As the first point of contact, insurance agents play a vital role in the claims process. Understanding the basics can improve communication with clients and lead to higher satisfaction and retention. Surety bonds have some unique characteristics that make the claims process different from most …
Free Auto Dealer Bond eBook We have compiled a Free Auto Dealer Bond eBook containing the bond and licensing requirements for new and pre-owned car dealers in all 50 states and the District of Columbia. In this eBook, insurance agents will learn: The bond requirements for auto dealers in all 50 states and the District …
Agent’s Guide to NMLS Surety Bond Filing November 12th, 2020 The Nationwide Multistate Licensing System (NMLS) is a platform used by many states as a licensing portal for mortgage and related financial services licenses. As an insurance agent, your financial services customers will be required to file their license applications, and corresponding surety bonds, through …
Surety Bonds vs. Letters of Credit: The Ultimate Guide October 22nd, 2020 Federal, state, and local governments require many businesses to obtain a license to ensure that they engage in ethical business practices. To protect the public should the business fail to do so, businesses are often asked to post a form of “financial security” …
Surety Bonds vs. Letters of Credit: The Ultimate Guide for Insurance Agents Read More »
October 15th, 2020 Residential Repairs from Hurricane or Flood Damage Might Need a Surety Bond The 2020 hurricane season is underway and insurance companies and their agents are preparing for the ensuing damage and the insurance ramifications. In the aftermath, construction companies will play an important role in the repair of damaged buildings, many of …
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October 9th, 2020 Insurance Agent vs Broker: Do You Need a Surety Bond? If you’ve read any of our previous articles, you should have a general understanding of surety bonds and the selling opportunities they offer insurance agents. But did you know that insurance agents may need to purchase a surety bond for their own …
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July 8, 2022 Surety Bond Cheat Sheet – 3 Questions to Ask Your Surety Bond Customers As an insurance agent, you’ve probably had thousands of conversations with clients counseling them on insurance needs. But what happens when the insurance product is something like surety bonds, a line of insurance that falls outside of your expertise? …
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New Jersey Shores Up Student Loan Servicer Regulations October 1st, 2020 Today, we published a new article to Suretypedia, a wiki based site that contains valuable information for insurance agents seeking to learn more about bonds. The article details new legislation passed in New Jersey requiring student loan servicers to obtain a license and purchase …
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September 17th, 2020 Tuition Pressure from COVID Squeezes Private School Bonds Schools nationwide have been struggling to justify already inflated tuitions as COVID-related mandates have moved most instruction on-line. To start the school year, many schools invited students back to campus for in-person instruction, only to send them home a few weeks later, after having …
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