New York excess line broker bonds.
From $100.
The New York Department of Financial Services licenses excess line brokers to place coverage with insurers not authorized in New York. Its licensing checklist calls for a $50,000 bond before the license is issued where the applicant’s home state is California. Premiums cost 1% of the bond amount, with a $100 minimum.
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How much does a New York excess line broker bond cost?
1% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No long underwriting queue for a broker license bond — enter your amount, pay, and upload it with the license application. Here is the whole thing:
Apply online
Broker or agency details, the bond amount your checklist calls for, and the effective date. That is the application. No credit check up to $100,000.
Issued on the spot
Broker license bonds are among the thousands of bond types that issue right after purchase, priced at 1% of the bond amount with a $100 minimum.
File with DFS
Your executed bond and power of attorney arrive by email. Residents submit through the DFS portal; non-residents attach it to the NIPR application. Wet-ink originals mailed on request.
What it is and who needs it.
What the excess line broker bond actually covers
An excess line broker is the licensee permitted to place New York risks with insurers that are not authorized in New York — the surplus lines market. The license sits on top of an existing property and casualty broker license: Insurance Law § 2105 governs who may hold it, § 2118 sets the broker’s duties (due care in choosing an unauthorized insurer, the diligent-effort affidavit, submission of placements, record-keeping and premium tax), and Regulation 41 (11 NYCRR part 27) supplies the operating detail. Placements are reviewed by the Excess Line Association of New York, the Department’s stamping office.
The bond is a licensing condition rather than a statutory penal sum, which is why it does not appear in § 2105 or § 2118. The Department’s own agent and broker guidance and the NIPR New York checklists state it plainly: an excess line applicant whose home state is California must provide a $50,000 bond before the license is issued. It runs to the Superintendent and backs the broker’s compliance with New York’s insurance law in performing those duties — most consequentially the premium tax collected on excess line placements.
Two things worth knowing before you buy. First, the prerequisite: you must already hold an active New York property and casualty broker license (or the home-state reciprocal), and an entity’s sub-licensees must match those on that P&C license. Second, the renewal clock: New York keys individual license expiry to birth year — born in an even year and the license expires on your date of birth in even years, born in an odd year and it expires in odd years. Keep the bond continuous across that cycle.
You need this bond if you are
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 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.
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 DFS. Your executed bond and power of attorney arrive by email. Residents submit through the DFS portal; non-residents attach it to the NIPR application. Wet-ink originals mailed on request.
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 $100,000. 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 application, issued instantly.
These are the actual underwriting fields — broker or agency details, the bond amount your checklist calls for, the effective date. No credit check up to $100,000.
Start the application →Common questions.
Other New York bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Clear the last item on the DFS checklist.
Premiums from $100, no credit check up to $100,000. Enter the amount your checklist calls for and file with the license application. Free until issued.