MN third party administrator bonds.
From $100. Enter your amount.
A Minnesota third party administrator can file a surety bond with the Department of Commerce in lieu of an unlimited guarantee from a parent company, under Minn. Stat. 60A.23, subd. 8. The commissioner sets the amount — generally 120% of the claims you handled last year — and the premium is 1% of the bond amount, $100 minimum. Your exact price appears at the application, and the form collects no credit information.
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Apply to filed in one sitting.
No underwriting queue for the standard TPA bond — enter your amount, pay, and file with Commerce. Here is the whole thing:
Apply online
Your business details, the bond amount the commissioner set, and the effective date — that is the entire application.
Issued on the spot
No waiting — the executed bond is generated as soon as you pay. Most applications approve instantly; if a check ever runs, it's a soft pull that won't affect your score.
File with the Department of Commerce
Submit the executed bond with your TPA license application or renewal. Wet-ink originals mailed whenever the Department insists.
What it is and who needs it.
What the TPA bond actually covers
Minnesota licenses third party administrators — companies that collect premiums or adjust or settle claims on behalf of insurers — through the Department of Commerce under Minn. Stat. 60A.23, subd. 8. To be licensed, an administrator must show financial responsibility, usually through an unlimited guarantee from a parent corporation.
Where there is no such parent guarantee, the statute lets the commissioner accept a surety bond instead, in an amount equal to 120% of the total claims the applicant handled in the prior year. The bond protects the insurers and the public the administrator serves against losses from theft, dishonesty, or failure to remit.
Because the amount is set case by case from your prior-year volume, there is no single statutory figure — you enter what the commissioner required. The premium is 1% of the bond amount, $100 minimum; your exact price appears at the application, and the form collects no credit information.
You need this bond if you are
One application, issued on the spot.
Submit the application with the bond amount the commissioner set — the executed bond is generated instantly, ready to file with Commerce.
Start the application →Common questions.
Other Minnesota bonds.
TPA bond, issued today.
1% of the bond amount with a $100 minimum. Enter the amount the commissioner set and file with Commerce the same day.