This bond is required for insurance brokers in Ohio who sell specialized insurance policies that standard insurance companies don't offer. These brokers need a $25,000 bond as a financial guarantee to the State of Ohio. It protects consumers by ensuring the broker follows state insurance laws and conducts business hon…
Overview
What it is.
This bond is required for insurance brokers in Ohio who sell specialized insurance policies that standard insurance companies don't offer. These brokers need a $25,000 bond as a financial guarantee to the State of Ohio. It protects consumers by ensuring the broker follows state insurance laws and conducts business hon…
Who usually needs it
Individuals or business entities seeking or maintaining a Surplus Lines Broker license in Ohio need this bond. This applies to licensed professionals who negotiate or place insurance coverage with non-admitted insurers for hard-to-place risks not available from admitted carriers. Applicants must hold an Ohio property and casualty insurance license in good s…
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.
StateOHBond amount$25,000ObligeeState of OhioBond classLicense BondCategoryInsuranceBondOhio Surplus Lines Broker BondJurisdictionStatePlain descriptionThis bond is required for insurance brokers in Ohio who sell specialized insurance policies that standard insurance companies don't offer. These brokers need a $25,000 bond as a financial guarantee to the State of Ohio.…Who needs this bondIndividuals or business entities seeking or maintaining a Surplus Lines Broker license in Ohio need this bond. This applies to licensed professionals who negotiate or place insurance coverage with non-admitted insurers …
