Connecticut third party administrator bonds.
From $5,000.
Connecticut conditions a third party administrator license on a surety bond under CGS 38a-720j, filed with the Insurance Department. The statute sets a floor of not less than $500,000, and the premium is 1% of the bond amount — your exact price shows at the application.
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How much does a Connecticut third party administrator bond cost?
1% of the bond amount, from $5,000 at the $500,000 minimum. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
Enter your amount, pay, and file with the Insurance Department. Here is the whole thing:
Apply online
Your business details, the bond amount the statute or commissioner set, and the effective date — that is the application.
Issued after a brief look
Larger surety amounts like the TPA bond get a quick underwriting review; if anything is needed, you hear from an underwriter within 48 hours. No credit check up to $50,000.
File with the Insurance Department
Submit the executed bond as a condition of your TPA license or renewal. Wet-ink originals mailed whenever the department insists.
What it is and who needs it.
What the TPA bond actually covers
A third party administrator collects premiums or settles claims for insurers and self-funded plans. Connecticut licenses TPAs through the Insurance Department and, under CGS 38a-720j, requires a surety bond sufficient to protect insurers and other persons using the TPA's services — but not less than $500,000.
The bond is a financial-responsibility guarantee: it stands behind the funds the TPA handles for insurers and plan members. If the TPA mishandles those funds and someone is harmed, they can recover against the bond — and if the surety pays, the TPA repays the surety.
The statute offers an alternative: the commissioner may waive the bond if the applicant submits audited annual financial statements for the two most recent fiscal years proving a positive net worth. TPAs administering governmental or church self-insured plans can have separate bond requirements. Whatever amount applies, we price it at 1% of that amount — no credit check up to $50,000.
You need this bond if you are
Claims, renewal, filing, and what sets the price.
If a claim is made
A court bond answers to the court and the party its order protects: if the judgment or order the bond secures is not satisfied, that party can claim against it, up to the penal sum the court set.
The surety pays a valid claim after the court rules, and you repay the surety. A court bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File with the Insurance Department. Submit the executed bond as a condition of your TPA license or renewal. Wet-ink originals mailed whenever the department insists.
What sets the price
The premium is 1% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $50,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One short form to apply.
Submit the application with the bond amount the Insurance Department requires — the TPA bond gets a quick underwriting look; no credit check up to $50,000.
Start the application →Common questions.
Other Connecticut bonds.
Price and requirements checked on the carrier’s application, . Page updated .
TPA bond, priced honestly.
From $5,000. Enter the amount the Insurance Department requires and file it.