South Carolina third party administrator bonds.
From $750.
Every South Carolina third party administrator must file and maintain a surety bond with the Department of Insurance under S.C. Code § 38-51-30. The amount is the greater of $75,000 or 10% of the premiums you handle, capped at $500,000. Pricing starts from $750, with one soft credit pull that never affects your score.
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How much does a South Carolina third party administrator bond cost?
1% of the bond amount, from $750 at the $75,000 minimum. Enter your amount in the calculator for the exact price.
Apply to filed in a few steps.
Enter your bond amount, consent to a soft pull, and file with the Department of Insurance. Here is the whole thing:
Apply online
Your business details, the bond amount your premium volume requires, and the effective date. The only extra step is a one-time consent to a soft credit pull.
Approved
Most are approved as soon as you apply. One soft credit pull, never a hard inquiry, and it never affects your score. If it needs a second look, one to two business days at most.
File with the Department of Insurance
Receive the executed bond, ready to file 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 guarantees
A third party administrator collects premiums and adjusts or settles claims on behalf of insurers, so South Carolina licenses TPAs and requires a surety bond. Under S.C. Code Title 38, Chapter 51, every TPA must file and maintain a bond in favor of the State with the Department of Insurance, executed by a surety authorized in South Carolina.
The bond protects the insurers and the public whose premiums and claims you handle — answering for your faithful performance and accounting of those funds. If you mishandle premiums or claims money, the harmed party can recover against the bond.
The required amount is the greater of $75,000 or 10% of the total premiums you handled in South Carolina the prior year, and it is not less than $75,000 and not more than $500,000. As your premium volume grows, you file a bond increase rider. We issue the amount you need with pricing from $750 and one soft credit pull.
You need this bond if you're
Claims, renewal, filing, and what sets the price.
If a claim is made
A court bond answers to the court and the party its order protects: if the judgment or order the bond secures is not satisfied, that party can claim against it, up to the penal sum the court set.
The surety pays a valid claim after the court rules, and you repay the surety. A court 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 the Department of Insurance. Receive the executed bond, ready to file with your TPA license application or renewal. Wet-ink originals mailed whenever the department insists.
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.
One soft credit pull, never a hard inquiry, and it never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, one soft pull.
Submit the application with your required bond amount and a one-time consent to a soft credit pull — your bond is issued when you pay.
Start the application →Common questions.
Other South Carolina bonds.
The same bond in nearby states.
Price and requirements checked on the carrier’s application, . Page updated .
File your TPA bond today.
Pricing from $750, soft pull only. Enter your amount and file with the Department of Insurance.