What is a Louisiana Public Adjuster Bond?
Know the what, how, and why of this important surety bond!
Assisting in increasing a settlement claim and giving those who have suffered a distressing event in their lives comfort and relief are just a few of the advantages of hiring a public adjuster.
Obtaining a surety bond is not just part of a public adjuster’s licensure requirement. It will also provide the necessary peace of mind to the public adjusters and their clients as well.
A Public Adjuster Bond is a surety bond that is needed for the issuance of a public adjuster license. The surety bond will serve as a guarantee that the licensed public adjuster will accomplish their duties in accordance with the applicable statutes and rules of the profession.
The surety bond will also ensure that the claims that may arise due to the licensed public adjuster’s misconduct or inability to fulfill the contractual obligations will be promptly paid.
The prerequisite is mandated by Section 22:1210 of the Louisiana Revised Statutes.
What is the Public Adjuster Bond amount?
The bond amount will vary per license applicant. The minimum bond amount is $50,000.
If you have an excellent credit score, you will be eligible to pay for a low bond premium!
Want to get a tailored quote ASAP? Get your FREE SURETY BOND QUOTE HERE!
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:
- You have to send an application to us. If you are ready to do that now, you may APPLY HERE!
- 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 to attain the best credit decision possible. To avoid any delay, the information that you should submit should be organized and concise.
- Your surety bond will be issued and sent to you!
What are the surety bond conditions?
- The surety bond should be issued by a Louisiana-authorized surety bond company or agent
- The surety bond should be written in a form that is approved by the Commissioner of Insurance of the State of Louisiana
- The surety bond should name the Commissioner of Insurance of the State of Louisiana as the Obligee
- The licensed public adjuster is required to comply with the provisions of Title 22 of the Louisiana Revised Statutes, as well as the rules and regulations of the Louisiana Department of Insurance
- If a violation is committed by the licensee, the aggrieved party will be eligible to file a claim on the surety bond
Need your surety bond immediately? APPLY NOW!