North Carolina insurance broker bonds.
$150 flat.
The $15,000 insurance broker bond was the security a North Carolina broker filed with the Commissioner of Insurance until the State retired the broker license on July 7, 2022. We still write it for the carrier agreements, wholesaler contracts and out-of-state paperwork that continue to name it: $150 flat.
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How much does a North Carolina insurance broker bond cost?
$150 at the $15,000 amount, the same for every applicant.
Three steps. One sitting.
There is no licensing queue behind this bond any more, which makes it one of the simplest filings we write. Here is the entire process:
Apply online
Entity details, your National Producer Number (NPN) and an effective date. That is the application. No credit check.
Pay & e-sign
Broker bonds are among the thousands of bond types that issue right after purchase.
Send it to whoever asked
Your executed bond and power of attorney arrive by email, ready to forward to the carrier, wholesaler or agency that requested it. The old Department of Insurance process wanted a wet-ink original in the mail for the first year — tell us at checkout and we still mail one, at no charge.
What it is and who needs it.
What the broker bond guarantees — and what changed in 2022
Until 2022, North Carolina licensed brokers separately from agents. A broker was a licensed agent who placed coverage with insurers the broker held no appointment with, and former G.S. 58-33-30(f)(1) conditioned that license on a bond in favor of the State of North Carolina, for the use of aggrieved parties, in the sum of not less than $15,000, executed by a corporate surety approved by the Commissioner. The statute let an applicant deposit cash, North Carolina bank certificates of deposit, or government securities with the Commissioner in lieu of the bond.
The bond was an accounting guarantee, not an errors-and-omissions policy. It answered for premiums and money the broker collected — to the person who asked the broker to obtain insurance, to the licensed insurer or agent that actually wrote the coverage, and to any premium finance company or placement plan that funded it. The surety’s aggregate liability could never exceed the $15,000 penal sum, and no surety could terminate the bond without 30 days’ prior written notice to both the licensee and the Commissioner.
Session Law 2022-46 (Senate Bill 496) eliminated the broker license for residents and nonresidents effective July 7, 2022. The Department of Insurance’s Agent Services Division notified producers, brokers and companies that existing broker licenses would be cancelled and that resident brokers could instruct their surety to cancel the bond immediately — a producer may now procure insurance for others through a duly authorized agent of an insurer without holding a broker license. So this is a contractual bond today: buy it when a carrier, wholesaler, MGA or agency agreement still calls for the $15,000 North Carolina broker bond by name. If nobody is asking you for it, you do not need it — and we would rather tell you that than sell you one.
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 $15,000 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
Pay & e-sign. Broker bonds are among the thousands of bond types that issue right after purchase.
What sets the price
The premium is fixed at $150 at the $15,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or your business profile.
No credit check.
One application, issued instantly.
These are the actual issuing fields — entity details, your NPN and an effective date. No credit check.
Start the application →Common questions.
Other North Carolina bonds.
The same bond in nearby states.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Get the broker bond your contract is asking for.
$150 flat, no quote process, bond usually issued in the same sitting. Free until issued.