A Minnesota public adjuster bond is required from both resident and non-resident insurance adjusters. The statutes authorize licensing of public, catastrophe, crop hail and independent adjusters. It is important to understand the distinction as application and surety bond requirements are different. Pursuant to Minnesota Statutes Section 72B.04, the public adjuster bond must guarantee multiple obligations.
The Minnesota public adjuster bond must be written in the amount of ten thousand dollars ($10,000), be issued and countersigned by and insurance company and producer licensed to do business in the state. The Commissioner of Commerce and any person injured as a result of a licensee's misconduct or malpractice has a right of action against the surety bond for losses sustained by the injured party.
License applications are processed by Sircon. Questions may be directed to the Commerce Department at:
Minnesota Department of Commerce - Licensing
85 7th Place East, Suite 280
St. Paul MN 55429
Minnesota 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 Minnesota 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.