Reinstate a Producer License
How to reinstate a license
An insurance producer who places insurance either directly or indirectly with an insurer with which the insurance producer does not have an agent contract must maintain in force while licensed a bond in favor of the people of the State of Illinois executed by an authorized surety company and payable to any party injured under the terms of the bond. The bond shall be continuous in form and in the amount of $2500 or 5% of the premiums brokered in the previous calendar year whichever is greater, but not to exceed $50,000 total aggregate liability. Such bond should remain at the place of business however the producer must provide the information within 3 working days after receiving a request, should the information be requested.