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2001 SESSION

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SB 938 Insurance; licensing of public adjusters.

Introduced by: Leslie L. Byrne | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Insurance; licensing of public adjusters. Provides for State Corporation Commission licensing of public adjusters. “Public adjusting” means investigating, negotiating or providing advice to an insured in relation to first-party claims arising under insurance contracts that insure the real or personal property of an insured. No person shall act as a public adjuster without first obtaining a license from the Commission. Conditions for licensing include paying an annual fee, passing a prelicensing examination, having at least two years' experience adjusting claims of the type for which a license is applied for, and posting a $10,000 bond. Adjusters for, or agents or employees of, insurers who adjust losses or damages under policies issued by the insurer, independent contractors of insurers, and licensed attorneys are exempt from the licensing requirements. The Commission may suspend or revoke licenses under certain conditions. The measure will become effective September 1, 2002.


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