What is a Georgia Public Adjuster Bond?

Learn all about this important requirement for public adjusters in Georgia!

Georgia Public Adjuster BondIt is a licensure requirement for all persons who are applying for a public adjuster license as required by the Commissioner of Insurance of the State of Georgia.

The surety bond will act as a guarantee to the Commissioner of Insurance that the licensed public adjuster will lawfully fulfill his or her obligations such as, but not limited to, the following:

  • The licensee will properly record all the funds
  • Will dutifully report to any principal
  • Will properly pay the Commissioner of Insurance of the State of Georgia any fees or administrative fines

If the licensed public adjuster fails to comply with any of the aforementioned rules and other relevant statutes resulting in damages, the person who has been injured will be financially compensated through the surety bond.

The requirement is in pursuance of Rule 120-2-3-.18 of the Georgia Insurance Department Rules and Regulations and Section 33-23-6 of the Georgia Insurance Code Annotated.

 

What is the Public Adjuster Bond amount?

The bond amount is $5,000.

Get your FREE SURETY BOND QUOTE HERE in order to know your bond premium!

 

How can I get a Public Adjuster Bond?

You can easily get this surety bond from us! We will guide you through the entire process. We’ll make sure that you will understand what you are getting into.

Here’s how to do get bonded:

  1. You have to send an application to us. If you are ready to do that now, you may APPLY HERE!
  2. After we have received your application, we will ask you to submit the necessary information needed for the underwriting process. These are the following:
  • Your financial capability
  • Your business or job performance history
  • Your credit score

An expert underwriter will carefully evaluate all three in order to attain the best credit decision possible. To avoid any delay, the information that you should submit should be organized and concise.

  1. Your surety bond will be issued and sent to you!

 

What are the surety bond conditions?

  • The surety bond should be issued by a surety bond agent or company that is authorized to conduct business in the State of Georgia
  • The surety bond should be made payable to the Commissioner of Insurance of the State of Georgia
  • The licensed public adjuster is obligated to comply with the provisions of Title 33 Chapter 23 of the Georgia Code, Subject 120-2-3 of the Georgia Insurance Department Rules and Regulations, and all the relevant rules
  • If the licensed public adjuster commits a valid violation, the aggrieved party will be eligible to file a claim on the surety bond
  • In case of cancellation, a 60-day notice is required

Ready to start on your surety bond? APPLY HERE!

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