What is a New York Independent Insurance Adjuster or Public Insurance Adjuster Bond?

Know why you need this bond and how to easily apply for one!

Through this surety bond, both Independent Insurance Adjusters and Public Insurance Adjusters can lawfully perform their duties such as, but not limited to, the following:

  • Adjust claims arising under insurance contracts
  • Settle claims for loss or damage to one’s property

In accordance with Section 2108 of the New York Consolidated Laws Insurance Law, both Independent Insurance Adjuster and Public Insurance Adjuster should submit a sufficient surety bond upon the application for a license.

 

The surety bond should be filed to the Superintendent of Financial Services of the State of New York for the benefit of any person who has been harmed by the licensed independent insurance adjuster or public insurance adjuster’s misconduct.

 

If the licensee continues to provide services according to the applicable rules and laws, the surety bond will remain void.

 

What is the Independent Insurance Adjuster or Public Insurance Adjuster Bond amount?

  • Independent Insurance Adjuster – $1,000
  • Public Insurance Adjuster – $1,000

 

You may be eligible for a very low bond premium! Know exactly what you need to pay by getting your FREE SURETY BOND QUOTE HERE!

 

How can I get an Independent Insurance Adjuster or Public Insurance Adjuster Bond?

You can easily get this surety bond from us! We will guide you through the entire process.

 

Here’s how to 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 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 who will issue the surety bond should be authorized to do business in the State of New York
  • The surety bond should be made payable to the People of the State of New York
  • The surety bond surety be written in a form that is approved by the Attorney General
  • The licensed Insurance Adjuster or Public Insurance Adjuster should obey the provisions of Article 21 of the New York Consolidated Laws Insurance Law, as well as the rules and regulations of the New York State Department of Financial Services
  • If the licensed Insurance Adjuster or Public Insurance Adjuster commits a violation, the aggrieved party will be eligible to file a claim on the surety bond

Get licensed ASAP! APPLY FOR THIS BOND TODAY!