Insurance Adjuster Surety Bonds are required in order for an individual or businesses to receive an insurance adjuster license, and ensures that they will operate in accordance with all applicable laws and regulations.
An insurance adjuster is responsible for investigating insurance claims in order to determine and recommend an effective and impartial settlement. These license and permit surety bonds protect the policyholders and clients of adjusters against potentially fraudulent or dishonest acts, misrepresentation, unlawful omissions as well as deceitful behavior during the claim investigation and settlement process. There are three separate types of insurance adjusters with accompanying surety bonds:
- Staff and Company Adjusters: Employees of an Insurance Company or Self-Insured Entity.
- Independent Adjusters: Independently Contracted by Insurance Companies.
- Public Adjusters: Hired by the Applicable Policyholder.