Maryland Automobile Insurance Producer Fund Bond
Overview
Maryland automobile insurance producers who participate in the state's assigned risk or residual market programs are required to carry this surety bond. It guarantees that premiums, fees, and other funds collected on behalf of policyholders and the fund are properly handled and remitted. Bond Titan makes it fast and simple to get this bond online — no agent callbacks, no delays.
Who Needs This Bond?
Independent agents, licensed brokers, and insurance producers writing automobile insurance through Maryland's residual market or assigned risk programs are the primary applicants for this bond. If you hold or are applying for an Automobile Insurance Producer license in Maryland and handle fund-related transactions, this bond is part of your compliance requirements. It is a statewide obligation, not a local permit or city-level requirement.
What is this Bond For?
This bond protects the Maryland Automobile Insurance Fund and the policyholders it serves from financial harm caused by a producer's failure to remit premiums or properly manage collected funds. It holds the licensed producer accountable for all money passing through their hands in connection with automobile insurance placements under the fund. A claim can be filed against the bond if the producer misappropriates, mishandles, or fails to forward funds as required.
When is it Required?
During the licensing or renewal process for an Automobile Insurance Producer in Maryland, regulators or the fund administrator will require proof that this bond is in place before your authority to write business is granted or continued. You will typically need to file the bond before your license is activated or your appointment with the fund is approved. Having the bond ready in advance prevents delays in your ability to write policies.
Where Does it Apply?
This bond applies statewide across Maryland. It is a requirement tied to your Maryland insurance producer license and your participation in the Automobile Insurance Fund — not to any specific county or municipality. Wherever you conduct automobile insurance business in the state, this bond travels with your license.
How to Buy Online
Click 'Buy This Bond Online' on this page to open the secure surety portal in a new tab. Complete your application, and your bond documents will be processed quickly so you can meet your Maryland licensing requirements without delay.
Why Bond Titan?
Bond Titan is powered by The Southern Agency and built for professionals who need to get bonded fast — no waiting on hold, no chasing an agent for a callback. Our nationwide catalog includes state-specific bonds like this one, so you get exactly the right document the first time. Buy online, get your bond, and move forward with your Maryland automobile insurance producer license.