WA surplus line broker bonds.
From $100. Enter your amount.
A resident Washington surplus line broker keeps two bonds in force for as long as the license is: a $20,000 bond in favor of the state under RCW 48.15.070(5), and a second bond in favor of the people of the state in the amount of $2,500 or five percent of last calendar year’s surplus line premiums, whichever is greater, capped at $100,000 total aggregate liability. Premiums cost 1% of the bond amount, from $100, and the application collects no credit information at the standard amount.
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Apply to filed in one sitting.
No underwriting queue on a broker bond of this size — enter your amount, pay, and put the bond in your license file. Here is the whole thing:
Apply online
Your agency details, the bond amount, and an effective date. That is the entire application — no financial statements, no credit section.
Pay & e-sign
The application collects no credit information at the standard amount, and most applications approve instantly. Your exact premium is calculated from the amount you enter, so the price you see is the price you pay.
Put it in your records
The Office of the Insurance Commissioner does not require the bond to be filed with it — you keep it in your records and produce it on request. Your e-signed bond and power of attorney arrive by email; wet-ink originals mailed when a carrier or an examiner insists.
What it is and who needs it.
What the surplus line broker bonds actually cover
A surplus line broker is the licensee who may place coverage with non-admitted insurers — carriers not authorized in Washington — when the coverage a client needs cannot be procured from authorized insurers. Washington licenses these brokers under chapter 48.15 RCW through the Office of the Insurance Commissioner. The prerequisites are an active Washington producer license with property and casualty authority and a passing score on the surplus line exam; licensees also join the Surplus Line Association of Washington and report policy data to it monthly.
There are two bonds, not one. RCW 48.15.070(5) requires a bond in favor of the state of Washington in the penal sum of $20,000, with authorized corporate sureties approved by the commissioner, conditioned that the licensee will conduct business under the license in accordance with chapter 48.15 RCW and will promptly remit the taxes provided by RCW 48.15.120. RCW 48.15.070(6) adds a bond in favor of the people of the state of Washington — or a named insured such that the people of the state are covered — in the amount of $2,500 or five percent of the premiums from placement of coverage with surplus line insurers in the previous calendar year, whichever is greater, but not to exceed $100,000 total aggregate liability, conditioned that the licensee will account to any person requesting insurance for moneys or premiums collected.
Both bonds stay in force for as long as the license remains in effect, and failure to have and maintain them is grounds for revocation under RCW 48.15.140. A surety may cancel and be released from further liability on thirty days’ written notice in advance to the principal, which does not touch liabilities incurred before that period runs — so a cancellation notice is a deadline to replace the bond, not a reason to let the license lapse. It is not insurance for you: if the surety pays a claim, you reimburse it.
You need this bond if you are
One application, issued instantly.
These are the actual issuing fields — no credit section, because this application does not collect credit information. Enter the bond amount your filing requires.
Start the application →Common questions.
Other Washington bonds.
Both surplus line bonds, in force today.
From $100. Enter your amount and keep the executed bond in your license file the same day. Free until issued.