Missouri Third Party Administrator Bond Guide
If you’re applying for a third party administrator (TPA) license in Missouri, you’ll need a surety bond.
Bond Overview
- Purpose: To protect organizations from financial harm if a TPA breaks the law
- Who Needs It: All licensed third party administrators in Missouri
- Regulating Body: The Missouri Department of Commerce and Insurance
- Required Coverage: $50,000
- Premium Rate: Typically $250–$500, credit-based
Learn all about the bond requirements and process in this guide.
What Is a Missouri Third Party Administrator Bond?
A Missouri third party administrator (TPA) bond protects organizations from financial harm if a TPA commits fraud or acts unethically.
The Missouri Department of Commerce and Insurance requires this bond as financial security to ensure insurance administrators comply with laws and industry regulations.
How Much Do Third Party Administrator Bonds Cost in Missouri?
A $50,000 Missouri third party administrator bond costs a small percentage of the bond amount. Most qualified applicants pay $250–$500.
Exact pricing varies based on personal credit score. Apply for your free, personalized quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Third Party Administrator Bond?
The Department of Commerce and Insurance requires this bond for all licensed third party administrators applying for a Certificate of Authority to operate in Missouri.
This includes anyone who offers administration and operational services for another company’s insurance or benefits plan.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a Missouri third party administrator bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your free quote in 1 business day
- Sign: Complete the indemnity agreement and provide any requested information
- Purchase: Buy the bond online at your convenience.
We’ll email you the bond shortly after purchase. Be sure to file the bond with the Missouri Department of Commerce and Insurance as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a Missouri TPA Bond Work?
As with all surety bonds, this bond creates a legal contract between three parties:
- Principal: You, the third party administrator filing the bond
- Obligee: The Missouri Department of Commerce and Insurance requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of Missouri Revised Statutes Section 376.1092.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your third party administrator bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
