Form Fin513 - Reinsurance Intermediary Bond - Texas Department Of Insurance
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1FIN513 | 0115
REINSURANCE INTERMEDIARY BOND
Bond No. _____________________________________
Bond Amount _______________________________
Know All Persons By these Presents:
That we ________________________________________________________________________________________
As Principal, whose address is ______________________________________________________________________
And __________________________________________________________________________ as Surety, being a
surety company authorized to do business in the State of Texas, or a surplus lines insurer eligible to do business in this
State, are bound to the Texas Department of Insurance in the sum of One-Hundred Thousand dollars ($100,000.00)
for a Reinsurance Intermediary Broker or the sum of Two-Hundred and Fifty-Thousand dollars ($250,000.00) for a
Reinsurance Intermediary Manager. Said money is payable to the Texas Department of Insurance, for the use and
benefit of any insurer represented by the above described Reinsurance Intermediary and as defined by the Texas
Insurance Code, Chapter 4152 and by the Texas Administrative Code, Title 28, Section 19.1403 in acceptable currency
of the United States in accordance with the statutory provisions cited above. By this instrument, we, jointly and
severally, firmly bind ourselves, our heirs, executors, administrators, successors and assigns.
The conditions of the above obligations are:
Whereas the above named Principal has applied to the Texas Department of Insurance for a license as a Reinsurance
Intermediary to engage in or continue in the business of insurance as a Reinsurance Intermediary, in accordance with
the statutory provisions cited above;
Now, Therefore, should the principal discharge losses that result from any final judgment recovered against the
Reinsurance Intermediary by any customer, this obligation will become void. If this obligation is not void, it remains
in full force and effect, subject to the following conditions:
1. As of __________________________, 20 _____, this bond will be in full force and effect indefinitely.
Continuation or renewal certificates are unnecessary.
2. The surety may, at any time, terminate this bond by submitting written notice to the Texas Department of
Insurance thirty (30) days prior to the termination date. The surety, however, remains liable for any defaults
under this bond committed prior to the termination date.
3. In no event will the aggregate liability of the Surety under this bond, for any or all damages to one or more
claimants, exceed the penal sum of this bond.
IN WITNESS WHEREOF said Principal and Surety have executed this bond this
_______ day of ________________________________________, 20_________,
to be effective the ___________ day of _________________________________ , 20______.
___________________________________________________
PRINCIPAL
___________________________________________________
BY
___________________________________________________
ADDRESS
___________________________________________________
SURETY
___________________________________________________
BY
Texas Department of Insurance |
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