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New Jersey managing general agent bonds.
From $100.

New Jersey requires a managing general agent to be bonded for the protection of the insurers it represents, filed with the Department of Banking and Insurance under N.J.S.A. 17:22B-1 et seq. The bond is generally $25,000. Your price starts from $100.

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Required of a managing general agent under N.J.S.A. 17:22B-1 et seq. — filed with DOBI

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Generally a $25,000 bond protecting the insurers the MGA represents

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Soft credit pull only — never a hard inquiry — priced at 1% of the bond amount, $100 minimum

1% of amount$100 minimumSoft pullnever affects your scoreFastissued within days of approval

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How it works

Apply to filed bond.

MGA bonds run through a quick underwriting review rather than instant issue. Here is the whole thing:

TODAY · ONLINE

Apply online

Your details, the MGA appointment, and the bond amount — plus a one-time consent to a soft credit pull. That is the application.

WITHIN 48 HOURS

Reviewed & approved

An underwriter reviews the MGA appointment and amount. The soft credit pull informs approval, never the price, and never affects your score.

1–2 BUSINESS DAYS

E-sign & file with DOBI

Pay online and receive the executed bond ready to file with the Department of Banking and Insurance. Wet-ink originals mailed whenever DOBI insists.

About this bond

What it is and who needs it.

What the MGA bond actually guarantees

A managing general agent handles binding authority, underwriting, and sometimes claims on behalf of an insurer. New Jersey regulates MGAs under N.J.S.A. 17:22B-1 et seq. and conditions the relationship on a surety bond for the protection of the insurers the MGA represents.

It is a three-party arrangement: you (the principal), the surety carrier, and the State together with the represented insurers (the protected parties). If an MGA mishandles funds, misrepresents contracts, or violates New Jersey insurance law, the harmed party can recover against the bond — and if the surety pays, you repay the surety.

The bond is generally $25,000. Filing requirements and amounts can vary with the MGA relationship, so we default to $25,000 and let you enter a higher figure if your DOBI filing or appointing insurer requires one. Your price — from $100 — is set from that amount and a soft credit pull that never affects your score.

N.J.S.A. 17:22B-1 et seq. (Managing General Agents)New Jersey regulates managing general agents under N.J.S.A. 17:22B-1 et seq., administered by the Department of Banking and Insurance, and requires a bond for the protection of the insurers the MGA represents — generally $25,000. Confirm the exact amount required on your DOBI filing or by your appointing insurer; the cited figure may change by rule.

You need this bond if you are

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Acting as a managing general agent for one or more insurers in New Jersey

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Onboarding a new MGA appointment that DOBI conditions on a bond

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Renewing an MGA bond that is expiring or was non-renewed

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An out-of-state MGA taking on New Jersey business

One application, then a quick review.

These are the actual underwriting fields, including a one-time consent to a soft credit pull. Submit once and the bond is typically issued within 1–2 business days.

Start the application →

FAQ

Common questions.

How much is the New Jersey MGA bond?Pricing is 1% of the bond amount, with a $100 minimum. The bond is generally $25,000. Enter your required amount and your exact price appears.

Do I pay the bond amount?No. You pay the premium — 1% of the bond amount, with a $100 minimum ($250 on a $25,000 bond). The bond amount is the surety’s maximum liability if a valid claim is made; it’s not a deposit, and nobody holds your money.

Who requires this bond?The New Jersey Department of Banking and Insurance regulates managing general agents under N.J.S.A. 17:22B-1 et seq. and requires a bond for the protection of the insurers an MGA represents. Confirm the exact amount on your DOBI filing.

Is there a credit check?Yes — one soft credit pull, which never affects your score. It informs approval only; the price itself is 1% of the bond amount, with a $100 minimum.

What amount should I choose if I’m not sure?Start with $25,000 — the general figure for New Jersey MGAs. If your DOBI filing or appointing insurer specifies a different amount, enter that instead, or send it to us and we’ll confirm before issuing.

Which A-rated carriers underwrite these bonds?Typically Arch Insurance Company (A.M. Best A+) or Nationwide Mutual Insurance Company (A.M. Best A). Which one writes your bond depends on the bond type and your state. The carrier's name and official signature are printed on the bond you receive.

How do I contact Light RFP about this bond?Email insurance@lightrfp.com. It reaches the bond team at Light RFP Risk Management Services LLC (NY DFS License # PC-1978982). Write to us about quotes, applications, bond forms or certificates. We will respond within 24 hours.

Related bonds

Other New Jersey bonds.

File your MGA bond this week.

From $100. Enter your amount and file with DOBI within 1–2 business days.

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Your premiumfrom $100

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