Skip to content
Search
Client portal (opens in a new tab)Call 1-800-777-1TSAGet started

Nevada bonds

Nevada — Title Agent / Title Insurer Bond

The Nevada Title Agent or Title Insurer Surety Bond is a required financial guarantee for entities licensed by the Nevada Division of Insurance. This bond serves as a protection mechanism for the public, ensuring that title agents and insurers adhere to the regulations governing title insurance transactions in the state.

Purchase Now (opens in a new tab)Call 1-800-777-1TSA

Continue to our secure checkout partner, Propeller (opens in a new tab).

Recorded state
Nevada
Bond type
Title Agent / Title Insurance Bond
Category
Insurance professionals

What this bond does

The primary purpose of this bond is to provide a path for restitution for any person who suffers damages due to a licensee's violation of Nevada Revised Statutes Chapter 692A. This includes protection against fraud, dishonesty, misrepresentation, or the concealment of material facts related to title business transactions.

Who needs it
Applicants and existing license holders acting as title agents or title insurers in Nevada who are mandated to demonstrate financial responsibility to the Commissioner of Insurance.
Who it protects
This surety bond acts as a three-party agreement between the principal (the title agent/insurer), the surety company, and the State of Nevada. It covers losses arising from statutory violations under NRS 692A, with a set bond penalty amount of $20,000.

Your bond option

This is the option on record for this bond.

The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.

Licensing and Regulatory Compliance

Title agents and insurers operating in Nevada must maintain this bond as a condition of their license or certificate of authority. The bond ensures that the licensee, including their agents and employees, complies with the professional standards outlined in chapter 692A of the Nevada Revised Statutes.

The obligation remains in force as long as the licensee holds their authority, unless the surety is released by the Commissioner of Insurance. It provides the state with a financial instrument to address claims brought by individuals harmed by a licensee’s failure to perform their duties honestly and faithfully.

Bond Mechanics and Liability

The surety bond penalty is fixed at $20,000. In the event of a valid claim, the surety is obligated to pay damages up to the total bond amount to compensate those injured by the principal's non-compliance or fraudulent acts in transactions governed by NRS 692A.

The surety company holds the right to cancel the bond by providing a 60-day written notice to both the principal and the Commissioner of Insurance. Once cancelled or released, the surety is relieved of further liability for acts occurring after the effective termination date.

Execution and Filing

To satisfy the state mandate, the bond must be properly executed, signed by the principal, and sealed by the surety. It requires an authorized attorney-in-fact to attach a Power of Attorney and necessitates the signature of a Nevada-licensed countersigning producer appointed by the insurer.

Proper completion of the NDOI-248 document template is essential for acceptance by the Nevada Division of Insurance. Licensees must ensure their information matches their regulatory filings exactly to avoid delays in their licensing process.

Sources

Have these ready

  1. Verify your license class under Nevada Revised Statutes Chapter 692A to confirm this bond type is the correct requirement.
  2. Prepare your business legal name and registration details exactly as they appear on your license application to ensure bond document accuracy.
  3. Secure a Power of Attorney from your chosen surety provider to accompany the signed bond form.
  4. Coordinate with a Nevada-licensed countersigning producer to ensure all required signatures and license numbers are present before filing with the Division of Insurance.

Questions about this bond

What is the penalty amount for this bond?

The bond amount is $20,000, as specified in the Title Agent/Title Insurer Surety Bond template provided by the Nevada Division of Insurance.

Who is the protected party under this bond?

The bond is held for the use and benefit of any person who suffers damages due to a licensee's violation of NRS Chapter 692A.

Can the surety cancel the bond?

Yes, the surety may cancel the bond by providing a 60-day written notice to the principal and the Commissioner of Insurance.

Is this bond required for every title transaction?

This bond is a licensing requirement for the entity to hold authority in Nevada, covering the principal's actions and those of their employees during governed transactions.

Related bonds

Keep exploring

How can we help you get started?

Choose the quote that fits, and we’ll take it from there.

Business insurance quoteFor owners and their teamsPersonal insurance quoteFor your family and home

Have a question? Contact us