Florida Fiscal Intermediary Bond

A person or entity seeking registration to provide fiduciary or fiscal intermediary services for healthcare professionals will need to file a Fiscal Intermediary Bond with the Florida Office of Insurance Regulation (OIR). It is for protection from damages resulting from the fiscal intermediary organization misappropriating funds.

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Buying your Fiscal Intermediary Bond with Jet not only meets registration requirements, but gives the State of Florida the financial guarantee that your actions will not lead to fiscal losses.

What Is the Lowest Price for the Fiscal Intermediary Bond?

The actual cost of the Fiscal Intermediary Bond depends largely on the bond limit required and credit history of the applicant. With the minimum limit of $10,000, Jet’s rates start at $10 a month or $100 a year.

Bond LimitMonthlyAnnual
$10,000$10$100
$25,000$25$250
$50,000$50$500
Florida Fiscal Intermediary Bond Cost

For bond limits that are $50,000 or less, a soft credit check is all that is needed for a quote. If the limit is over $50,000, additional financial information like business or personal financial statements will be required to provide a quote. 

The bond limit is calculated by the OIR by taking 5% of the funds received for the previous year. The bond limit can’t be more than a $250,000 maximum.

The Fiscal Intermediary Bond Process With Jet

It’s easy to apply for a Fiscal Intermediary Bond online with Jet! Our online application walks you through each step of adding in required information (like a social security number used in the soft credit check). You’ll be done in just a few minutes and if your bond is $50,000 or less, your quote will be ready to buy instantly!

For bond limits that are over $50,000, your application will be reviewed by a Jet underwriter. Financial statements (personal or business) may be requested before a quote is approved. When it’s ready, you’ll receive the quote via email and can purchase it online by clicking the link. 

After purchase, Jet will email your confirmation with a receipt and a copy of your bond. You can print out that bond to sign with a witness and upload it along with the Application for Registration as a Fiscal Intermediary Services Organization at https://www.floir.com/iportal. 

The Office of Insurance Regulation’s address can be found below: 

State of Florida
Office of Insurance Regulation
200 E Gaines St
Tallahassee, FL 32399-0319

Renewing your bond is just as easy as it was to purchase! The OIR will need confirmation of continuous bond coverage each year. Jet will send you an email reminding you of renewal and a notice in the mail when it’s time to renew. 

You’ll need to confirm your bond limit with Jet—and adjust for any changes so you have the correct amount of coverage. Again, bonds with a limit under $50,000 are easily renewed; just pay for the new term! A limit that is over $50,000 will require a review of financial statements before new terms are offered. 

How to Cancel My Bond

Details about canceling your Fiscal Intermediary Bond.

How To Avoid Fiscal Intermediary Bond Claims

Section 641.316 of the Florida Statutes outlines the terms of the Fiscal Intermediary Bond and who qualifies as a Fiscal Intermediary Services Organization. The very nature of this bond is to provide protection to the Office of Insurance Regulation for losses caused by a fiscal intermediary’s misappropriation of funds or dishonesty. If such mismanagement occurs, the OIR will lay claim on the bond to recover the funds. 

When Jet receives notice of a claim, our team will review evidence to verify the claim’s validity or if there is any way for the fiscal intermediary to make amends before the claims process proceeds further. If the claim is legitimate, Jet will need to recoup the funds to the OIR—but the fiscal intermediary will need to pay Jet back to restore the bond to its required limit. This is where surety differs from insurance, as surety bonds are more like a line of credit and need to be reimbursed.

Are There Other Bonds That a Fiscal Intermediary Needs?

Yes, a fiscal intermediary organization is also required to hold a fidelity bond to protect itself from its employee’s dishonest actions. The bond must be 10% of the funds handled by the organization, within the confines of a $50,000 minimum or $1,000,000 maximum. Please call (855) 296-2663 to apply for the fidelity bond.

Florida Fiscal Intermediary Bond Form Example

Florida Fiscal Intermediary Bond Form

Notary Bond Application:

X

Business Information:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Employee Dishonesty Bond Application:

Business Information:

Business Description:

Coverage Requirements:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Contract Bond Application:

X

Business Information:

Owner Information:

Job Details:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Worker's Compensation Application:

X

Business Information:

Business Description:

Coverage Requirements

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information: