Third Party Administrator Bond

Third party administrators (TPA) handle various administrative responsibilities for entities such as insurance companies where they may handle the claims process.   Or for a company’s employee benefits plan handling claims such as those to retirement plans. Third party administrators can be either an individual or a business and operate on a fee-for-services basis. Many states require the companies or individuals who administer these services for another entity to post a Third Party … [Read more...]

Motor Vehicle Dealer Bond

One of Goldleaf Surety’s partner surety companies is featuring the Motor Vehicle Dealer Bond this quarter and has put together a very good information sheet for their agency partners.  We would like to share some of this information regarding motor vehicle bonds with you. Almost every state requires a surety bond as part of the licensing process for motor vehicle dealers.  These bonds guarantee a licensed motor vehicle dealership will comply with state regulations and are required to protect … [Read more...]

Minnesota – Land of 10,000 Lakes

There is a Minnesota tourism commercial that says, “Land of 10,000 Lakes is really Minnesota-nice for 11,842 lakes.”  And this number only includes lakes over 10 acres.  If we were to include lakes and basins under 10 acres, the number would be even greater. There are so many lakes in Minnesota that many of them are not even named.  And many have the same name.  For example, there are 115 Long Lakes in Minnesota. Now, while this information is interesting and may even be useful if you are … [Read more...]

Goldleaf Surety Services Celebrating 20 Years

On April 1, 1998,  Goldleaf Financial, Ltd. began operations in Montevideo, Minnesota.  And while the company has undergone many changes throughout the past 20 years, one thing has remained consistent - our reputation as the most comprehensive surety services company in the US. When other surety bond specialists or companies are restricted by size, specialty divisions, or other constraints that limit the entire bonding process, Goldleaf has continually brought it all together under one roof.  … [Read more...]

Appraisal Management Company Bond

As of November 11, 2017, New Jersey began requiring licensed real estate appraisal management companies to obtain a surety bond. The change is a result of Assembly Bill 1973 which was passed in May.  With this new law, New Jersey becomes one of over 20 states that require the Appraisal Management Company (AMC) bond.  These states include Alabama, Arizona, Arkansas, Colorado, Georgia, Illinois, Iowa, Louisiana, Mississippi, Missouri, Nebraska, New Mexico, North Carolina, Oregon, Pennsylvania, … [Read more...]

New York City Car Wash Bond

The New York City  Department of Consumer Affairs is now accepting applications for car wash licenses  and will begin enforcement of the Car Wash Accountability Act on December 4th.   Among the requirements for licensing under the new Act is the requirement for a $150,000 Car Wash Bond. License bonds such as this new Car Wash Bond provide indemnification for loss or damage resulting from a license holder’s compliance with the law or regulation.  In the case of this particular bond, if the car … [Read more...]

Goldleaf Surety to Attend IIAN Trade Fair

Goldleaf Surety's New Business Intake Manager Lori Olson will be attending  the Independent Insurance Agents of Nebraska's 110th Annual Convention and Trade Fair.  This year's convention is being held October 12-13 at the Embassy Suites in Lincoln. We would like to invite you to visit our booth at the Trade Show on Thursday, October 12th from 4:30 pm to 7:30 pm.  Stop by to say hello and to  discuss how our experienced staff can assist you and your agency with all of your bonding needs from … [Read more...]

Oklahoma Pharmacy Benefits Managers Bond Updated Requirements

As discussed in Goldleaf Surety's blog post dated August 9, 2017, effective August 31, 2017, the Oklahoma Insurance Department’s statutory dollar amount requirement for the Pharmacy Benefit Manager’s (PBM) Bond had been amended to $1,000,000 per occurrence and $5,000,000 annual aggregate. Due to a substantial number of questions and comments from both PBM's and surety companies regarding the bond requirement set forth in Oklahoma Administrative Code Sec. O.A.C. 365:25-29-6, the Commissioner … [Read more...]

Goldleaf Surety to Attend IIAB of Iowa Trade Show

Goldleaf Surety's New Business Intake Manager Lori Olson a will be attending  the  Independent Insurance Agents of Iowa's 111th Annual Convention, Trade Show and Expo September 13 and 14.  This year's convention is being held at the Prairie Meadows Convention Center in Altoona, Iowa.. We would like to invite you to visit our booth (Booth #66) at the trade show on Wednesday, September 13th from 3:30 pm to 7:00 pm.  Stop by to discuss how our experienced staff can assist you and your agency … [Read more...]

Goldleaf Surety to Attend PIA Education Day & Trade Show

Goldleaf Surety's New Business Intake Manager Lori Olson will be attending the Minnesota PIA Education Day & Trade Show.  This year's event will be held Thursday, September 7th at the Double Tree Hilton in Bloomington. We would like to invite you to visit us at our booth.  Stop by to discuss how our experienced staff can assist you and your agency with all of your bonding needs from performance bonds to almost every other type of surety and fidelity bond that may be required.  And to … [Read more...]