Ohio managing general agent bonds.
$500 flat.
Ohio licenses a managing general agent through the Department of Insurance, and ORC 3905.72 conditions that license on a bond of not less than $50,000 for the protection of the insurer. Ours is $500 flat, and the price you see is the price at checkout. No credit check, and most applications approve instantly.
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How much does an Ohio managing general agent bond cost?
$500 at the $50,000 amount, the same for every applicant.
Three steps. One sitting.
The bond is the fast part of a managing general agent file — the contract and the board resolution take longer than this does. Here's the entire process:
Apply online
Entity type, business address, a contact, and an effective date. That is the application. No credit check.
Pay & e-sign
License bonds like this are among the thousands of bond types that issue right after purchase.
File with the Department of Insurance
Your executed bond and power of attorney arrive by email, ready to go in with your MGA application alongside the insurer contract, the certified board resolution, and evidence of your errors-and-omissions policy. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
A managing general agent is not an ordinary producer. Under ORC 3905.71, an MGA manages all or part of an insurer's insurance business — or negotiates and binds ceding reinsurance — while acting as the insurer's agent, and, alone or with affiliates, produces gross direct written premium equal to five percent or more of the insurer's policyholder surplus while also adjusting or paying claims or negotiating reinsurance on the insurer's behalf. Someone else's pen, someone else's money, someone else's balance sheet: that combination is what Ohio bonds.
ORC 3905.72 conditions the license on a bond of not less than $50,000 for the protection of the insurer, alongside an errors and omissions policy, a copy of your contract with the insurer, and a certified resolution of the insurer's board of directors authorizing that contract. The protected party is unusual here. Most license bonds run to the state or to the public; this one runs to the insurer whose pen you hold, so it is the carrier — not a consumer and not the Department — who recovers if you underwrite outside your authority, misapply premium, or pay claims you had no authority to pay.
It is not insurance for you: if the surety pays a claim, you repay the surety. The bond has to stay continuous for the life of the license, and an Ohio MGA license expires on the last day of February following its issuance or renewal, so the bond term and the renewal cycle need to line up. We track your expiry and notify you 60 and 30 days out. And $50,000 is a floor, not a ceiling — an insurer may contract for more, and we write the larger amount on request.
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 $50,000 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. Your executed bond and power of attorney arrive by email, ready to go in with your MGA application alongside the insurer contract, the certified board resolution, and evidence of your errors-and-omissions policy. Wet-ink original mailed on request.
What sets the price
The premium is fixed at $500 at the $50,000 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. No credit check.
Start the application →Common questions.
Other Ohio bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Finish your MGA license file today.
$500 flat, no quote round-trip, bond often issued in the same sitting. Free until issued.