Washington Discount Medical Plan Organizations are required under the Revised Code of Washington Chapter 175, Section 7, Paragraph 1 to file a Washington Discount Medical Plan Organization Bond as a condition of licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Washington Discount Medical Plan Organization Bond holds you accountable for your business decisions.
By possessing a Washington Discount Medical Plan Organization Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.