Idaho Public Adjuster Bond

Bond Penalty: $20,000

An Idaho public adjuster bond is one of several requirements of candidates for an insurance adjuster license in the state. Idaho statutes define a public adjuster as an individual or businesses entity that engages in one of the following regulated activities:

  • Acts or aids, solely in relation to first party claims arising under insurance contracts that insure the real or personal property of an insured, on behalf of that insured in negotiating the settlement of a claim for loss or damage covered by an insurance policy.
  • Advertises or solicits business for employment as a public adjuster of insurance claims.
  • Directly or indirectly solicits business, investigates or adjusts losses, or advises an insured about first party claims for losses or damages arising out of insurance policies on real or personal property.

Title 41, Chapter 58 addresses the Idaho public adjuster bond requirement. Per the Department of Insurance, "Prior to issuance of a license as a public adjuster and for the duration of the license, an applicant must file a surety bond issued by an insurer authorized to issue surety bonds in Idaho in the minimum amount of twenty thousand dollars ($20,000). The public adjuster bond guarantees recovery by the Department on behalf of any person who sustains damages as the result of erroneous acts, a failure to act, conviction of fraud, or conviction of unfair practices in his or her capacity as a public adjuster. The authority to act as a public adjuster automatically terminates if the surety bond is canceled or becomes impaired, generally from claims.

Idaho 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 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 Idaho 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.

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