Insurance Agent Bond

An insurance agent bond, also known as an insurance broker bond, is a form of insurance purchased by an insurance broker. In addition to requiring insurance brokers to be licensed, most states also require insurance brokers to be bonded. The exact amount of the surety bond and its specifications are determined by the state where the business is. An insurance bond ensures strict compliance with state insurance laws and protects customers from any illegal or unethical actions on the part of the broker.