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By Cole Bogue , VP of Surety
Per
the California State Contractors License
Board, limits on California Contractor
License Bonds will increase to $25,000
effective January 1, 2023.
What
does this mean?
BTIS
will increase your clients' bonds to
$25,000 to be in compliance with the
CSLB. This increase will result in an
additional supplemental premium*. Limit
increases pertain to:
• Principal -
increasing from $15,000 to $25,000
• Qualifying
Individual - increasing from $12,500 to
$25,000
BTIS is accepting supplemental premium
payments on California License Bonds
through 04/27/23. The first supplemental
premium amounts will appear on the
September 2022 invoice statement, which
will be released in October.
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