If you are engaged as a third party administrator in Maryland, you are required under the Insurance Laws of Maryland to file a Maryland Third Party Administrator Bond as a condition of licensure.
Bonds Express offers a Maryland 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 Maryland Third Party Administrator Bond holds you accountable for your business decisions.
By possessing a Maryland 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.