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This version of the form is not currently in use and is provided for reference only. Download this version of
Form AID-LI-TPA-BOND
for the current year.
Form AID-LI-TPA-BOND Third Party Administrator Bond - Arkansas
What Is Form AID-LI-TPA-BOND?
This is a legal form that was released by the Arkansas Insurance Department - a government authority operating within Arkansas. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is the AID-LI-TPA-BOND Third Party Administrator Bond?
A: The AID-LI-TPA-BOND Third Party Administrator Bond is a type of surety bond required by the state of Arkansas for third party administrators.
Q: What is a third party administrator?
A: A third party administrator is a company or individual that processes insurance claims and performs other administrative tasks on behalf of an insurance company.
Q: Why is a bond required for third party administrators in Arkansas?
A: The bond is required to protect consumers and ensure that third party administrators fulfill their obligations.
Q: How much is the bond amount for AID-LI-TPA-BOND in Arkansas?
A: The bond amount varies and is based on the volume of business conducted by the third party administrator.
Q: How much does an AID-LI-TPA-BOND Third Party Administrator Bond cost?
A: The cost of the bond is typically a percentage of the bond amount and is based on factors such as the applicant's credit score.
Q: What happens if a third party administrator fails to comply with the bond requirements?
A: If a third party administrator fails to comply with the bond requirements, a claim can be filed against the bond to provide financial compensation to affected parties.
Q: Are there any other requirements for third party administrators in Arkansas?
A: Yes, in addition to the bond, third party administrators in Arkansas must also be licensed by the state and comply with other regulatory requirements.
Q: Can I cancel the AID-LI-TPA-BOND Third Party Administrator Bond?
A: The bond can typically be canceled by providing written notice to the surety bond company, but cancellation may have financial consequences.
Q: How long does the AID-LI-TPA-BOND Third Party Administrator Bond remain in effect?
A: The bond typically remains in effect as long as the third party administrator continues to meet the bond requirements.
Form Details:
- Released on February 1, 2016;
- The latest edition provided by the Arkansas Insurance Department;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form AID-LI-TPA-BOND by clicking the link below or browse more documents and templates provided by the Arkansas Insurance Department.
