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Illinois PPP administrator bonds.
From $100.
A Preferred Provider Program administrator registered with the Illinois Department of Insurance files a surety bond as part of registration under the Insurance Code’s preferred-provider provisions. The Department sets the amount, and the bond prices at 1% of the bond amount, $100 minimum.
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Three steps. One sitting.
No underwriting queue for the standard PPP administrator bond — enter your amount, pay, and file with the Department of Insurance. Here is the whole thing:
Apply online
Your business details, the bond amount the Department required, and the effective date — that is the entire application.
Issued on the spot
The application collects no credit information — the executed bond is generated as soon as you pay, priced at 1% of the bond amount with a $100 minimum. Larger amounts may get a quick review.
File with the Department of Insurance
Submit the executed bond with your PPP administrator registration. Wet-ink originals mailed whenever the Department insists.
What it is and who needs it.
What the PPP administrator bond actually covers
Illinois regulates Preferred Provider Programs — networks that steer covered members to contracted providers — under the preferred-provider provisions of the Illinois Insurance Code (215 ILCS 5) and the Department of Insurance’s rules at 50 Ill. Adm. Code 2051. An entity that administers such a program registers with the Department.
As part of registration, a PPP administrator files a surety bond running to the Department of Insurance as obligee. The bond backs the administrator’s obligations under the program — for example, that funds it handles on behalf of the program and its participants are accounted for and that it complies with the preferred-provider rules.
It is not insurance for the administrator — if the surety pays a claim, the administrator repays the surety. The Department sets the required amount; we price that figure with premiums starting from $100 and no credit information collected in the application. Confirm the amount on your registration paperwork before filing.
You need this bond if you are
One application, issued on the spot.
Submit the application with the bond amount the Department set — no credit fields, and the executed bond is generated instantly for most applicants, ready to file with the Department of Insurance.
Start the application →Common questions.
Other Illinois bonds.
PPP administrator bond, issued today.
From $100. Enter the amount the Department set and file the same day.