{"id":1112,"date":"2013-05-14T02:27:25","date_gmt":"2013-05-14T02:27:25","guid":{"rendered":"http:\/\/suretyone.com\/blog\/?p=1112"},"modified":"2017-01-03T16:20:34","modified_gmt":"2017-01-03T16:20:34","slug":"new-mexico-independent-adjuster-bond","status":"publish","type":"post","link":"https:\/\/suretyone.com\/blog\/new-mexico-independent-adjuster-bond\/","title":{"rendered":"New Mexico Independent Adjuster Bond"},"content":{"rendered":"<p>In order for an adjuster to legally operate he or she must procure a <strong><a title=\"Surety One\" href=\"https:\/\/suretyone.com\" target=\"_blank\">New Mexico independent adjuster bond<\/a><\/strong> and comply with the licensing requirements of the Public Regulation Commission. \u00a0State 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&#8217;s rights to settlement and the insured&#8217;s rights to settle, arbitrate and litigate the dispute (<a title=\"NM Adjuster laws\" href=\"http:\/\/public.nmcompcomm.us\/nmpublic\/gateway.dll\/?f=templates&amp;fn=default.htm\" target=\"_blank\">NM59A-13-2<\/a>). \u00a0Pursuant to subsection (5) of the same statute, with an application for license, temporary or otherwise, as an must file with the <a title=\"NM Superintendant of Insurance\" href=\"http:\/\/www.nmprc.state.nm.us\/insurance\/index.html\" target=\"_blank\">Superintendent<\/a> a <strong>New Mexico independent adjuster bond<\/strong> 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 <strong><a title=\"NM Indep Adjuster surety bond form\" href=\"http:\/\/www.nmprc.state.nm.us\/insurance\/agent-licensing\/docs\/independent-adjuster-surety-bond.pdf\" target=\"_blank\">New Mexico independent adjuster surety bond<\/a>\u00a0<\/strong>must be executed by a surety insurer licensed to do business in the state. \u00a0The surety bond must remain in effect for the duration of the license, or until the surety is released from liability by the Superintendent. \u00a0The surety may also cancel the surety bond without prejudice to any liability accrued prior to cancellation. \u00a0Surety may cancel a bond by giving written notice to the superintendent at least thirty (30) days prior to effective date of cancellation. \u00a0 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. \u00a0The <strong>New Mexico independent adjuster bond\u00a0<\/strong>obligation states that said bond guarantees the payment of &#8221; damages sustained in case the licensee is guilty of law violations or unfair practices&#8221;, therefore a party would have to actually suffer &#8220;damages&#8221; in order to make a valid claim against the bond.\u00a0<strong>National surety leader<\/strong>, \u00a0<a title=\"Surety One\" href=\"https:\/\/suretyone.com\/\" target=\"_blank\">Surety One, Inc.<\/a>\u00a0is a primary and\u00a0<a title=\"Non-standard surety bond page\" href=\"https:\/\/suretyone.com\/commercial-surety-bonds\" target=\"_blank\">non-standard surety market<\/a>\u00a0for <strong>New Mexico surety bonds<\/strong> regardless of the applicant&#8217;s credit condition or financial situation. \u00a0Visit us at\u00a0<a title=\"Surety One\" href=\"https:\/\/suretyone.com\/\" target=\"_blank\">https:\/\/suretyone.com<\/a>, call anytime <span style=\"color: #ff0000;\">(787) 333-0222<\/span>\u00a0or <span style=\"color: #ff0000;\">(800) 373-2804<\/span>, or email\u00a0<span style=\"color: #ff0000;\">Underwriting@SuretyOne.com<\/span>\u00a0for a\u00a0<strong>New Mexico independent adjuster bond<\/strong>\u00a0<a title=\"Commercial Surety Bond app.\" href=\"https:\/\/suretyone.com\/pdf\/all-bonds\/commercial-surety-bond-application.pdf\" target=\"_blank\">application<\/a> or information on any surety product.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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. \u00a0State law defines an independent adjuster as a person that&#8230; <a class=\"more-link\" href=\"https:\/\/suretyone.com\/blog\/new-mexico-independent-adjuster-bond\/\">Continue Reading &rarr;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[139],"tags":[1367,1369,1368],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.7.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>New Mexico Independent Adjuster Bond &bull; Surety One, Inc.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/suretyone.com\/blog\/new-mexico-independent-adjuster-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Mexico Independent Adjuster Bond &bull; Surety One, Inc.\" \/>\n<meta property=\"og:description\" content=\"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. \u00a0State law defines an independent adjuster as a person that... 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