SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2012 SESSION

  • | print version

HB 872 Property and casualty insurance; provides for SCC licensing and regulation of public adjusters.

Introduced by: Thomas Davis Rust | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Property and casualty insurance; public adjusters.  Provides for State Corporation Commission licensing and regulation of public adjusters. Public adjusting means investigating, negotiating, adjusting, 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, for the purpose of effecting the settlement of a claim on behalf of the insured. A licensed insurance agent who only provides advice to an insured in relation to first party claims arising under insurance contracts the agent sold, solicited, or negotiated that insure property of an insured is not engaged in public adjusting. A person is prohibited from acting as a public adjuster without first obtaining a license from the Commission. Public adjusters are required to comply with standards of conduct and continuing education requirements. Fees charged by a public adjuster are required to be fair and reasonable in relation to the work performed. The Commission may suspend or revoke licenses under certain conditions. The measure will become effective January 1, 2013. This bill is identical to SB 520.


FULL TEXT

HISTORY