Florida Legal Expense Insurance Corporation Bond

Florida Legal Expense Insurance Corporation Bond

A Legal Expense Insurance Corporation Bond can be filed with the Florida Office of Insurance Regulation by law firms offering legal expense insurance (prepaid legal service) in lieu of a large security deposit to the State.

QUOTE

Look no further than Jet to get your Legal Expense Insurance Corporation Bond! We save you time and money as a direct insurance carrier—meaning no brokers or middlemen hiking up the cost of your bond or delaying communications from surety carriers.

What Is the Cost of a Legal Expense Insurance Corporation Bond?

If this is your first year as a legal expense insurance corporation, your bond limit is set at $50,000. After the first year, your bond limit will be readjusted every October 1st to reflect the correct amount of coverage for the gross amount of legal expense insurance premium that was written during the year. 

Buying your bond with Jet will only cost you a small portion of the required bond limit. Rates can start as low as 1% of the limit (see chart below) upon approval. Because of the larger limits and increased financial risk associated with this bond requirement, a soft credit check and evaluation of financials will be needed.

Bond LimitAnnual Gross PremiumMonthlyAnnual
$30,000$300k or less$30$300
$50,000First Year$50$500
$75,000$300k-750k$75$750
$100,000$750k or more$100$1,000
FL Legal Expense Insurance Corp Bond Rates

The Bond Process With Jet

When you click the button to apply for a Legal Expense Insurance Corporation Bond, you will be able to fill out the required info on Jet’s simple application. Part of this includes adding in a social security number that is needed to run a soft credit check. Your application will be submitted for review by a Jet team member, who will reach out to you for additional information if need be including business and/or personal financial statements. 

Once your quote is ready, you will receive an email with a link that you can click to purchase your bond. After payment, a confirmation email with a receipt and an electronic copy of your bond will be sent. 

Your Legal Expense Insurance Corporation Bond is part of the financial checklist and will need to be submitted with the license application, which is filed online as a PDF under the “Form & Rate Filing Assembly and Submission” tab at https://www.floir.com/iportal. 

Information about bond or securities deposits can be found by calling the Bureau of Collateral Management at (850) 413-3167 or reaching out to their address here: 

Department of Financial Services
Bureau of Collateral Management
Capitol Building – Room P-3
Tallahassee, FL 32399-0345

As for bond renewals, Jet will send out a notice to you through mail and email. Since the bond limit can change based on the previous year’s performance, your renewal quote will need to go through underwriting again. If the limit for your upcoming bond term is set at $30,000, business financials are required; if your bond limit is more than that, personal and business financials are needed. You will be emailed the quote for your new term, which you can purchase right away.

Learn More About Cancelling Your Bond

How to Cancel My Bond

See the details on canceling your Legal Expense Insurance Corporation Bond.

Florida Legal Expense Insurance Corporation Bond Form Example

Florida Legal Expense Insurance Corporation 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: