Illinois Insurance Producer / Adjuster Bond

This bond is required for insurance producers (brokers/agents) who do not have a direct contract with an insurance company and public adjusters who act on behalf of insureds in first-party claims settlements. The bond protects the Illinois Department of Insurance and consumers from financial losses due to violations like fraud, negligence, breach of contract, or failure to pay owed funds.

The bond must be submitted with your license application through the NIPR electronic filing system (nipr.com). Upload the signed bond form (including power of attorney) to the NIPR document warehouse alongside your fingerprints, approved customer contract, and license fee. For public adjusters, mail original documents if required to: Illinois Department of Insurance, 320 W. Washington Street, Springfield, IL 62767. The bond must be executed by an authorized surety and is continuous in form, requiring 30 days' notice for termination.

The bond amount varies by license type. Insurance producers (brokers/agents) without a direct insurer contract need a minimum of $2,500 or 5% of premiums brokered in the previous year, whichever is greater, up to a maximum of $50,000. Public adjusters must maintain a flat $20,000 surety bond as required by 215 ILCS 5/1560.