Excise Bond Underwriters was organized in 1933, following the repeal of prohibition, for the sole purpose of issuing bonds required by the New York State Liquor Authority for manufacturing, transporting or selling alcoholic beverages
81 years of experience has made Excise Bond Underwriters one of the leading companies issuing Alcoholic Beverage License and Permit Bonds for the State of New York. THIS IS OUR ONLY BUSINESS and we pride ourselves in our efficient service and expertise in this field.
Excise Bond Underwriters provides unexcelled service to agents, brokers, attorneys and their clients. We are conveniently located in Manhattan's Financial District, where you can obtain a bond in just a few minutes.
Issuance of new bonds
The bonds cover penal amounts from $1,000 to $25,000 according to the class of business and type of license or permit. Bonds are issued to agents and brokers the same day they are requested.
Authorized Bonding Agents
Many insurance brokers and agents throughout the State have bond authority. They maintain supplies of our blank bonds in their offices and can issue bonds immediately. Completed paperwork is forwarded to Excise Bond Underwriters for processing and billing.
Automatic Bond Renewals
Excise Bond Underwriters handles the renewal of bonds approximately three months prior to the State's deadline. Our automated data processing system relieves brokers and agents of much paperwork each year.
Our premiums are: $50.00 for a 1 year term, $75.00 for a 2 year term and $100.00 for a 3 year term. This provides for full coverage of the $1,000 penal amount as well as $1,000 in costs taxed or allowed in any action or proceeding. Other bonds have higher premiums, according to the higher penal sums prescribed by law.
Brokers and agents receive commissions from Excise Bond Underwriters ranging from 15% to 30%. This must be determined for each agent and broker based on volume.
Your insurance business depends on the caliber of service you give your clients. Ours depends on the service we give to brokers, agents and their clients. As specialists in license and permit bonds, we are best equipped to handle not only the everyday processing of applications and bonds, but also any adjustments and claims.
Excise Bond Underwriters has a full-time attorney on its staff who is skilled in all bond matters involving the State Liquor Authority and your clients. Immediate attention is given to all claims so that they may be resolved efficiently. Responsive claims service has been the key to our success for eight decades.