Because of Puerto Rico's location squarely in the path of violent tropical storms, property loss adjustment is BIG business. A Puerto Rico public adjuster bond is required of all participants in the industry. The Code of Puerto Rico strictly regulates the activity of insurance adjusters and their conduct. Article 9.050 defines a public adjuster as, "una persona que, por compensación como empleado, contratista independiente o como empleado de un contratista independiente, por honorarios, comisión o sueldo, investiga y negocia el ajuste de reclamaciones que surjan de contratos de seguros, exclusivamente a nombre del asegurador o del asegurado.", following the wording of adjuster licenses in all other fifty states and U.S. Virgin Islands.
A public adjuster may be independent or public. Both licenses require the same surety bond as financial assurance of the adjuster's compliance with licensing, recordkeeping and professional practice. A Puerto Rico public adjuster bond must be renewed by continuation certificate each year concurrent with the underlying license. The surety bond is accepted in both english and spanish versions. It must be executed by an "apoderado" of the surety company and countersigned by a resident insurance producer with the special apoderado authority. Application materials may be downloaded from the Puerto Rico Comissionado de Seguros here, or by contacting the licensing division as follows:
Oficina del Comisionado de Seguros
B-5 Calle Tabonuco, 5th Floor
Guaynabo, PR 00968
The Commissioner advises all stateside independent and public adjusters that there is no reciprocity with any other state member of the NAIC. A Puerto Rico public adjuster license must be granted by the Commissioner's office before any adjustment operation is accomplished.
Puerto Rico surety bond leader, SuretyOne.com is a specialist in the bonding needs of insurance adjusters. We offer the fidelity and surety bonds needed by insurance professionals in all fifty states, Puerto Rico and the U.S. Virgin Islands. Questions about this or another surety bond? Call us at (800) 373-2804, email us at Underwriting@SuretyOne.com or click here for live chat. A Puerto Rico public adjuster bond is quick, easy and issued within hours.
Para cotizar una fianza de ajustador público o independiente necesitamos una solicitud más nada. El estado crediticio personal del individuo y/o propietario(a) de una agencia ajustadora importa PERO ofrecemos programas especiales para solicitantes con el crédito dañado o falta de historial crediticio. ¡No rechazamos a NADIE!
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