Every applicant for a claims adjuster license in this state must procure a Georgia public adjuster bond in the amount of $5,000, running to the Commission of Insurance. The surety bond guarantees that the licensee will "shall faithfully account to any insured whose claim he/she is handling for all monies or any settlement received in connection therewith as provided in Section 33-23-6 of the Georgia Insurance Code Annotated, and in 120-2-3-.18 of the Georgia Insurance Department Rules and Regulations." Each adjuster should review the statute carefully as it names eleven specific violations of professional practice covered by this bond.
"Public adjuster" is defined in GA §33-23-1 as any person who solicits, advertises for, or otherwise agrees to represent a person who is insured under a policy covering fire, windstorm, water damage, and other physical damage to real and personal property other than vehicles licensed for the road, such representation being limited to the settlement of a claim or claims under the policy for damages to real and personal property, including related loss of income and living expense losses but excluding claims arising out of any motor vehicle accident. There are few exceptions and there are no waivers of the Georgia public adjuster bond requirement. If you are licensed in another jurisdiction, your resident license surety bond is not valid in Georgia.
Georgia surety bond leader, SuretyOne.com is a specialist in the bonding needs of the insurance sector. We offer both surety and fidelity bonds needed by claims 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. A Georgia public adjuster bond is quick, easy and issued same-day.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.