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Louisiana surplus lines insurer bonds ($150,000).
$1,500 flat.
The $150,000 security filing with the Louisiana Commissioner of Insurance — the middle of the three penal sums the Department names on surplus lines and specialty insurer files. Ours is $1,500 flat, the same for every carrier filing at this level, and the price you see is the checkout price. A soft credit pull may run; never a hard inquiry.
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Three steps to filed.
One application carries both the bond request and the underwriting answers. Here’s the whole process:
Apply once, online
Company details, parish, NAIC number, years in business, and a short commercial questionnaire — prior surety history, outstanding judgments or liens, whether another surety has declined you, and what liability and property coverage you carry. One consent to a soft credit pull sits at the end.
Pay & e-sign
Most of these clear straight through and the bond generates the moment you pay. If underwriting wants anything else, you hear about it the same day and the price does not move.
File with the Department of Insurance
The executed bond and power of attorney arrive by email, ready for your Department of Insurance file. The Department wants the original on its own form, so we mail the wet-ink copy on request.
What it is and who needs it.
What the $150,000 filing covers
Louisiana lets a carrier satisfy an insurer security requirement two ways: pledge cash and approved government bonds to the Commissioner of Insurance, or file a surety bond from an authorized surety in lieu of the deposit. Both do the same job — they guarantee the carrier’s obligations to Louisiana policyholders. Only one of them ties up your money.
The $150,000 figure is not arbitrary. Louisiana fixes it for a specialty insurer license: R.S. 22:365 requires a vehicle mechanical breakdown insurer to deposit securities worth at least $150,000 with or for the benefit of the Commissioner before a license issues, and lets the applicant file a surety bond in that amount instead. Carriers writing that line — or another Louisiana filing the Department sets at this level — frequently land at this penal sum.
The deposit or surety has to be maintained unimpaired, unencumbered, and pledged to the Commissioner until every Louisiana policy has run its full term and expired — the statute says plainly that it stays fully in force until the insurer’s obligations to policyholders are fulfilled. That is why a bond here cannot simply be cancelled: a substitute has to be in place, or the Commissioner has to be satisfied the obligations are discharged, and withdrawal needs the Commissioner’s approval.
Behind the security sit the eligibility tests themselves — R.S. 22:435’s capital and surplus requirement and R.S. 22:436’s approved-unauthorized-insurer list with its annual statement and April 15 producer production report. The bond is not insurance for the carrier: if the surety pays a claim, the carrier repays the surety.
You need this bond if you’re
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the $150,000 bond amount. You then repay the surety: a surety 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; a longer term is the same price per year, chosen at checkout.
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 Department of Insurance. The executed bond and power of attorney arrive by email, ready for your Department of Insurance file. The Department wants the original on its own form, so we mail the wet-ink copy on request.
What sets the price
The premium is fixed at $1,500 at the $150,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or your business profile.
One soft credit pull, never a hard inquiry, and it never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued instantly.
These are the actual underwriting fields, including the commercial questionnaire and a one-time consent to a soft credit pull. Submit once — the bond generates on payment.
Start the application →Common questions.
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Price and requirements checked on the carrier’s application, . Page updated .
File the $150,000 security today.
$1,500 flat, one short application, soft pull only. Free until issued.