In order for an adjuster to legally operate he or she must procure a New Mexico independent adjuster bond and comply with the licensing requirements of the Public Regulation Commission.  State law defines an independent adjuster as a person that investigates, negotiates, settles or adjusts a loss or claim arising under an insurance contract on behalf of an insurer, insured or self-insurer, for a fee, commission or other compensation, and advises an insured of the insured’s rights to settlement and the insured’s rights to settle, arbitrate and litigate the dispute (NM59A-13-2).  Pursuant to subsection (5) of the same statute, with an application for license, temporary or otherwise, as an must file with the Superintendent a New Mexico independent adjuster bond in favor of the Superintendent in aggregate amount of not less than ten thousand dollars ($10,000), conditioned to pay actual damages resulting to the state of New Mexico or any member of the public as a consequence of violation of law by the licensee while acting as an adjuster. The New Mexico independent adjuster surety bond must be executed by a surety insurer licensed to do business in the state.  The surety bond must remain in effect for the duration of the license, or until the surety is released from liability by the Superintendent.  The surety may also cancel the surety bond without prejudice to any liability accrued prior to cancellation.  Surety may cancel a bond by giving written notice to the superintendent at least thirty (30) days prior to effective date of cancellation.   An independent adjuster must maintain an office within the borders of the state, and must maintain in that office records of all transactions under the license for a period of three years.  The New Mexico independent adjuster bond obligation states that said bond guarantees the payment of ” damages sustained in case the licensee is guilty of law violations or unfair practices”, therefore a party would have to actually suffer “damages” in order to make a valid claim against the bond. National surety leader,  Surety One, Inc. is a primary and non-standard surety market for New Mexico surety bonds regardless of the applicant’s credit condition or financial situation.  Visit us at, call anytime (787) 333-0222 or (800) 373-2804, or email for a New Mexico independent adjuster bond application or information on any surety product.