Third Party Administrators operating in the State of Illinois are required under Section 511.104 of the Illinois Insurance Code to execute an Illinois Third Party Administrator Bond to ensure compliance with licensure.
Bonds Express offers an Illinois Third Party Administrator Bond with a 99% approval rate.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Illinois Third Party Administrator Bond holds you accountable for your business decisions.
By possessing an Illinois Third Party Administrator Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.