How much does a $5,000 insurance broker surety bond cost in Oklahoma?
Oklahoma insurance broker surety bonds cost $100. Simply click Buy Now to purchase your bond online using our secure bond checkout. In just a few minutes you can be on your way to being bonded as an Oklahoma insurance broker.
Why do I need this bond?
The Oklahoma Insurance Department requires a $5,000 surety bond for life or accident and health insurance brokers.
By posting an Oklahoma insurance broker’s surety bond, principals (brokers) pledge to adhere to the terms set in Section 1464C, Title 36 of the Oklahoma Statutes Annotated. Specifically, this bond guarantees the full accounting and due payments to the person or company entitled to them as part of an insurance transaction at the hands of the broker.
What’s the fine print?
Oklahoma insurance broker’s bonds are continuous until canceled. If the surety chooses to cancel the bond, 30 days’ written notice must be given to the insurance broker and the Commissioner of Insurance.
