The State of Tennessee Department of Commerce and Insurance, Board of Funeral Directors and Embalmers, the Burial Services/Cemetery Division, oversees the requirements for the Improvement Care Trust Funds mandated by legislation. The establishment of the fund is to protect consumers who purchase cemetery and funeral property services from cemetery companies. The Tennessee Code Annotated Title 46 Chapter 1 Part 2 defines the fidelity and surety bond requirements for improvement care trust funds for cemetery companies.
The premium that you pay for a Tennessee Cemetery Improvement Care Trust Fund Surety and/or Fidelity Bond will vary depending on the bond amount, type of bond and credit. Applicants may also need business and personal financial statements. Our rates start at low as 1% of the bond amount with good credit. Fidelity rates are based on the number of employees handling funds, starting as low as $360 for under five employees. Contact our Surety Bond Specialists for a free quote.
The above requirements apply to all established, new, and an addition to an existing cemetery company on or after January 1, 2007.
Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, buy from us. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.
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