Pursuant to new law, a North Dakota public adjuster bond will now be required of all unexempted insurance consultants (legacy definition) for licensing and renewals of all resident and non-resident operators. Per state statute, At the time of issuance of a resident public adjuster license or a nonresident public adjuster license and for the duration of the license, an applicant shall maintain a surety bond or proof of insurance satisfactory to the commissioner for the use and benefit of the commissioner for insureds that have remitted fees, retainers, compensation, deposits, or other things of value to the public adjuster in the course of the public adjuster's business. The bond must:
The state law also imposes notification requirements on the licensee. The commissioner may request the evidence of the North Dakota public adjuster bond at any time the commissioner deems relevant, to which the license must respond. An adjuster must also immediately shall notify the Commissioner if the surety bond terminates or becomes impaired. The authority to act as a public adjuster automatically terminates if impairment occurs.
National surety bond leader, SuretyOne.com is a specialist in the bonding needs of the insurance claims adjustment 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 North Dakota public adjuster bond is quick, easy, available for any credit condition and is issued same-day.
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