Delaware Public Adjuster Bond
Delaware public adjuster license candidates must meet specific application procedures and file a Delaware public adjuster bond with the Commissioner of Insurance. Delaware statutes define a "public adjuster" as, a person who for any type of remuneration "acts or aids, solely in relation to first party claims arising under insurance contracts that insure the real or personal property of the insured, on behalf of an insured individual in negotiating for, or effecting the settlement of, a claim for loss or damage covered by an insurance contract; advertises for employment as an adjuster of insurance claims or solicits business or represents oneself to the public as an adjuster of first party insurance claims for losses or damages arising out of policies of insurance that insure real or personal property; or directly or indirectly solicits business, investigates or adjusts losses or advises an insured about first-party claims for losses or damages arising out of policies of insurance that insure real or personal property for another person engaged in the business of adjusting losses or damages covered by an insurance policy." DE §1750.
In addition to passing a written examination and satisfying the Commission that he or she possesses the prerequisite experience and training to act as a claims adjuster the applicant must provide a Delaware public adjuster bond bond executed and issued by a surety insurer authorized to transact business in Delaware in the amount of $20,000, which bond guarantees the faithful performance of his or her duties as a public insurance adjuster. The surety bond must contain the following provisions:
- Issued in favor of the State and shall specifically authorize recovery by the Commissioner of the damages sustained if the licensee is convicted of fraud or unfair practices in connection with the licensee's business as a public adjuster.
- Limit the aggregate liability of the surety to all damages but not exceed the amount of the bond.
- A statement that the public adjuster bond cannot be terminated unless at least 30 days written notice is given to the licensee and filed with the Commissioner.
Delaware surety bond leader, Surety One, Inc. is a specialist in the bonding needs of independent and public adjusters. We offer both the surety and fidelity bonds needed by insurance professionals in all fifty states, Puerto Rico and the U.S. Virgin Islands. Questions about this surety bond? Call us at (800) 373-2804, email us at Underwriting@SuretyOne.com or click here for live chat. An Delaware public adjuster bond is quick, easy and issued within hours.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.
