This bond is required for individuals who provide advice about insurance products to consumers in Maryland. If you help people choose or understand insurance policies as part of your business, you need this $1,000 bond. It protects Maryland residents by ensuring you follow state rules and act honestly when advising th…
Overview
What it is.
This bond is required for individuals who provide advice about insurance products to consumers in Maryland. If you help people choose or understand insurance policies as part of your business, you need this $1,000 bond. It protects Maryland residents by ensuring you follow state rules and act honestly when advising th…
Who usually needs it
Individuals or businesses applying for or holding a Maryland insurance adviser license must obtain this bond. Insurance advisers provide services such as examining terms or coverage of insurance policies, annuity contracts, or pure endowment contracts, and advising insureds on changing or continuing such contracts. The bond is required pursuant to Section 1…
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateMDBond amount$1,000ObligeeState of MarylandBond classLicense BondCategoryOtherBondInsurance AdviserPlain descriptionThis bond is required for individuals who provide advice about insurance products to consumers in Maryland. If you help people choose or understand insurance policies as part of your business, you need this $1,000 bond.…Who needs this bondIndividuals or businesses applying for or holding a Maryland insurance adviser license must obtain this bond. Insurance advisers provide services such as examining terms or coverage of insurance policies, annuity contra…
