Public Insurance Adjusting
Public Insurance Adjusters
A Public Insurance Adjuster is a person who, for compensation, acts on behalf of or aids in any manner, an insured in negotiating for or effecting the settlement of a claim or claims for loss or damage under any policy of insurance covering real or personal property or any person who advertises, solicits business, or holds himself or herself out to the public as an adjuster of those claims and any person who, for compensation, investigates, for those losses on behalf of any public insurance adjuster.
Licensed through each individual state Department of Insurance (DOI) to solely represent the insured or claimant in an insurance claim. A license issued under this chapter authorizes the adjusting of claims on behalf of the insured for fire and allied coverage, burglary, flood, and all other property claims, both real and personal, including loss of income, but only when the client is an insured under the insurance policy.(b) This chapter does not limit or diminish the authority of a license holder to investigate or adjust a loss to less than the authority for that purpose that may be exercised by an adjuster licensed under Chapter 4101
A public insurance adjuster must file proof of financial responsibility with respect to transactions with insureds….
In determining the types of financial responsibility required, the commissioner may consider a surety bond or a professional liability policy or similar policy or contract of professional liability coverage acceptable to the commissioner.