If you are engaged as a third party administrator operating in Maine, you are required under 24-A MRSA 1901 through 1912 to file a Maine Third Party Administrators Bond as a condition of licensure.
Bonds Express offers a Maine 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 Maine Third Party Administrator Bond holds you accountable for your business decisions.
By possessing a Maine 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.