NY excess line broker bonds.
From $100. See your price in the app.
The New York Department of Financial Services licenses excess line brokers to place coverage with insurers not authorised in New York. Its licensing checklist calls for a $50,000 bond before the licence is issued where the applicant’s home state is California. Premiums cost 1% of the bond amount, with a $100 minimum, and the application collects no credit information.
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No long underwriting queue for a broker licence bond — enter your amount, pay, and upload it with the licence 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 entire application — no financials and no credit section.
Issued on the spot
Broker licence 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 authorised in New York — the surplus lines market. The licence sits on top of an existing property and casualty broker licence: Insurance Law § 2105 governs who may hold it, § 2118 sets the broker’s duties (due care in choosing an unauthorised 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 licence 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 licence (or the home-state reciprocal), and an entity’s sub-licensees must match those on that P&C licence. Second, the renewal clock: New York keys individual licence expiry to birth year — born in an even year and the licence 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
One application, issued instantly.
These are the actual underwriting fields — broker or agency details, the bond amount your checklist calls for, the effective date. There is no credit section, because this application does not collect credit information.
Start the application →Common questions.
Other New York bonds.
Clear the last item on the DFS checklist.
Premiums from $100, no credit section. Enter the amount your checklist calls for and file with the licence application. Free until issued.