Virginia surplus lines broker bonds.
$250 flat.
Virginia will not issue a resident surplus lines broker license until you certify that a $25,000 bond in favor of the Commonwealth is in force, and it must stay in force as long as the license does. It goes to the State Corporation Commission’s Bureau of Insurance on form SLB-2 under § 38.2-1857.2. Ours is $250 flat.
Trusted by industry leaders
How much does a Virginia surplus lines broker bond cost?
$250 at the $25,000 amount, the same for every applicant.
Three steps. One sitting.
The surplus lines bond is a fixed-amount, fixed-price filing — there is nothing to quote and nothing to negotiate. Here is the entire process:
Apply online
Your name or firm, address, 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. At most, a business day or two.
File with the Bureau of Insurance
Your executed form SLB-2 and power of attorney arrive by email, ready to go in with your surplus lines broker application or renewal. Wet-ink original mailed on request.
What it is and who needs it.
What the surplus lines broker bond actually guarantees
Surplus lines is the market for risks no admitted Virginia insurer will write, and the broker who places that business with an eligible nonadmitted insurer needs a separate license on top of a property and casualty agent license. Article 5.1 of Title 38.2 (§ 38.2-1857.1 et seq.) governs it, and the State Corporation Commission’s Bureau of Insurance issues and renews the license.
The bond is a condition precedent. Section 38.2-1857.2 requires the applicant, before a license issues, to file a certification or attestation that a $25,000 bond in favor of the Commonwealth, with corporate sureties licensed by the Commission, is in force — and will stay in force for as long as the license remains effective. Form SLB-2 states the conditions plainly: that you will conduct business under the license in accordance with Virginia’s surplus lines laws and regulations, and that you will promptly remit the taxes and assessments those laws provide.
That tax obligation is the practical heart of it. A surplus lines broker owes the 2.25 percent insurance premiums license tax on direct gross premiums from policies whose home state is Virginia, reported quarterly to Virginia Tax within 30 days of each quarter end once annual liability is expected to top $1,500. The bond stands behind those remittances. It is not insurance for you — if the surety pays, you repay the surety — and the surety is released from future breaches only after thirty days’ written notice to the Commission, which is why a lapse is a licensing event rather than a filing chore.
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 $25,000 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 Bureau of Insurance. Your executed form SLB-2 and power of attorney arrive by email, ready to go in with your surplus lines broker application or renewal. Wet-ink original mailed on request.
What sets the price
The premium is fixed at $250 at the $25,000 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 Virginia bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Finish your surplus lines license today.
$250 flat, a statutory $25,000 penal sum, and the bond often issued in the same sitting. Free until issued.