What is a Self-Insured Workers Compensation Surety Bond?
A Self-Insured Workers Compensation Surety Bond can be required by a state’s Department of Insurance Regulation for a business who decides to self-insure their workers compensation insurance policy. This surety bond ensures that money is available to pay its obligations under the Workers Compensation Law and any rules and regulations issued thereunder.
What is the current market for a Self-Insured Workers Compensation Surety Bond?
Self-Insured Workers Compensation Surety Bonds are written by very few surety bond markets. The bond amount for the Self-Insured Workers Compensation Surety Bond varies and is typically set by the state department governing workers compensation requirements. Terms of approval and premium are largely determined by the financial condition of the company’s corporate and/or personal net worth, experience, and the needed bond amount.
How do I apply for an Self-Insured Workers Comp Surety Bond?
- Start by filling out our Self-Insured Workers Comp Surety Bond application
- E-mail or fax the information to firstname.lastname@example.org or (888) 204-8716
Please note that additional underwriting information may be needed depending on bond request, information submitted, and to obtain the lowest possible rate.