An Illinois public adjuster bond is required pursuant to the "Public Adjuster's RegulatoryAct". This $20,000 surety bond is a two part guarantee. The fist part of the obligation ensures that the public adjuster will make a full accounting and due payment to the person or company entitled thereto of funds coming into his or her possession related to claims adjustment work under the license. The second provision of the obligation is a simple license/permit bond guarantee. Because the Illinois public adjuster bond provide a broad guarantee of "license compliance", public adjusters should carefully read and understand their duties under the statute (215 ILCS 5). The specific wording of the surety bond's provisions are:
The Illinois public adjuster bond and application materials not processed through the NIPR may be delivered to Illinois Department of Insurance (Public Adjuster Licensing), 320 West Washington Street, Springfield, IL 62767-0001. NOTE: f the applicant holds a resident license outside of the State of Illinois, examination requirements may be waived however a resident state license surety bond is NOT valid for licensing in Illinois.
Illinois surety bond leader, SuretyOne.com is a specialist in the bonding needs of independent and public adjusters. We offer surety and fidelity bonds needed by these professionals in all fifty states, Puerto Rico and the U.S. Virgin Islands. For more please call us at (800) 373-2804, email us at Underwriting@SuretyOne.com or click here for live chat. An Illinois public adjuster bond is quick, easy and processed immediately.
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