A Virginia public adjuster bond is required by the State Corporations Commission, Bureau of Insurance in order to obtain a license to adjust insurance claims in the Commonwealth. According to the Bureau (public adjuster licensing), a public adjuster is an "individual or business entity who receives a salary, fee, commission or other compensation for investigating, negotiating, adjusting or providing advice to an insured in relation to first party claims arising under insurance contracts that insure real or personal property of an insured for the purpose of effecting the settlement of a claim on behalf of the insured. Public adjusters do not work for any insurance company nor do they work on behalf of the Commonwealth of Virginia. Public adjusters work with insureds to assist in the preparation, presentation, and settlement of claims."
A Virginia public adjuster bond must be purchased from a corporate surety company and electronically filed with the Bureau. Pursuant to the regulator's instructions, "the electronic application includes an "attestation" wherein the applicant must certify that they have, and will keep in force for as long as the license remains in effect, a $50,000 bond in favor of the Commonwealth with corporate sureties licensed by the Commission. The surety bond number, effective date and the name of the insurer must be included on the application for licensure." If you would like to review the bond form and read through the obligation you may download one here.
Virginia surety bond leader, Surety One, Inc. is a specialist in the bonding needs of independent and public adjusters. We offer both surety and fidelity bonds needed by these professionals in ALL fifty states, Puerto Rico and the U.S. Virgin Islands. Questions about this license bond? Call us at (800) 373-2804, email us at Underwriting@SuretyOne.com or click here for live chat. A Virginia public adjuster bond is quick, easy and processed immediately.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.