A public adjuster surety bond is a simple statutory compliance obligation in most jurisdictions. This class of surety bond (an independent adjuster bond where I.A. language is still on the books) is generally freely written, i.e., so long as the bond principal (adjuster) does has not declared bankruptcy nor is subject to any outstanding liens and/or judgments, then the public adjuster bond is issued without credit report review. There are a few states that require bond language which is more onerous which does subject the applicant to credit review but they are few.
A public adjuster is an insurance claims professional. Unlike an "independent" adjuster, he or she acts on behalf of policyholders rather than the carriers that insure those policy holders. Wonderful Wikipedia states that a public adjuster's general responsibilities are but are not necessarily limited to:
Given the many ways that an adjuster can engage in inappropriate conduct or divert third party monies to personal ends, most states strongly regulate the profession. The states that have adopted the National Association of Insurance Commissioners model rules for public adjusters largely require surety bonding as part of license approval. A public adjuster bond is a simple code compliance obligation. The surety bond guarantees that the adjuster will indemnify "any person in the state who sustained damages as the result of erroneous acts, failure to act, conviction of fraud, or conviction of unfair practices in his or her capacity as a public adjuster." Visit some of our state pages to learn more: