| License Description |
General Information, terms and Definitions: Licensing Requirements: Public Adjuster - any person who, for compensation or any other thing of value on behalf of the insured and subject to the prohibition provided in Section 73-3-55: 1. Acts or aids, solely in relation to first party claims arising under insurance contracts that insure the real or personal property of the insured, on behalf of an insured in negotiating for, or effecting the settlement of, a claim for loss or damage covered by an insurance contract; 2. Advertises for employment as a public adjuster of insurance claims or solicits business or represents himself or herself to the public as a public adjuster of first party insurance claims for losses or damages arising out of policies of insurance that insure real or personal property; or, 3. Directly or indirectly solicits business, investigates or adjusts loses an insured about first party claims for losses or damages arising out of polices of insurance that insure real or personal property for another person engaged in the business of adjusting losses or damages covered by an insurance policy for the insured. A public adjuster shall not include an attorney at law. Licensing Requirements The Department shall issue licenses to public adjusters and emergency public adjusters in the State of Mississippi. The licensing procedure and requirements are as follows: A. Individual Public Adjuster License - To apply for this license, an applicant must provide the following information and meet the following conditions. 1. Licensing Requirements: a. Applicant is at least twenty-one (21) years of age; b. Applicant is a bona fide resident of this state, or is a resident of a state which will permit residents of this state to act as a public adjuster in such other state; c. Applicant is a trustworthy person; d. Applicant has had experience or special education or training with reference to the handling of loss claims under insurance contracts of sufficient duration and extent to make him competent to fulfill the responsibilities of a public adjuster, as will be discussed furtherin this Regulation; e. Applicant has successfully passed an examination as required by the Commissioner or has been exempted according to the provisions of the Act and this Regulation; f. Applicant submits documentation that he has either a bond or an errors or omissions policy in force in the amount of Fifty Thousand Dollars ($50,000) to cover any loss or claims practice of the public adjuster, or any holder of an emergency license certified by him, a copy of the Bond form is attached hereto as Exhibit "A"; and, g. Submission of the license and application fee in the amount of Fifty Dollars ($50.00) as set forth in Miss. Code Ann. § 27-15-97. 2. This license shall be valid for a period of one (1) year from June 1st to May 31st of the following year and shall be renewed annually B. Business Entity Public Adjuster License- A business entity acting as a public adjuster is required to obtain a public adjuster license. This license shall be subject to the same conditions and terms as the Individual Public Adjuster License. 1. Application shall include: a. Application form; b. The name of the licensed individual public adjuster that shall be responsible for the business entity's compliance with the insurance laws, rules and regulations of this state; c. Payment of license fee in the amount of Two Hundred Dollars ($200.00) as set forth in Miss. Code Ann. § 27-15-97. 2. Each public adjuster employed or connected to the business entity adjusting claims in Mississippi must also hold an individual public adjuster license. C. Emergency License - The Commissioner may issue Emergency Licenses in the event of a catastrophe or emergency which arises out of a disaster, Act of God, riot, civil commotion, conflagration or other similar occurrence to persons who are residents or nonresidents of this state and who may or may not be licensed as public adjusters. 1. To apply for this emergency license, an applicant must provide the following information and meet the following conditions: a. An applicant must be certified by either a person licensed under the provisions of the Act, or by any other person as approved by the Commissioner. Certification shall mean any written representations addressed to the Commissioner concerning the integrity, competence and qualification of a person, in form and content satisfactory to the Commissioner. Any person who certifies an applicant shall be responsible for the loss or claims practices of the emergency license holder; b. The application and certification must be filed with the Department within five (5) days of the applicant beginning work as a public adjuster; and, c. Submission of the license and application fee in the amount of Fifty Dollars ($50.00), submitted to the Commissioner within thirty (30) days of the issuance of the emergency license. 2. Emergency licenses shall be in force for ninety (90) days and may be extended for an additional ninety (90) day period by the Commissioner. 3. Should the public adjuster who certifies the emergency public adjuster either forfeit, surrender, or has his license revoked by the Commissioner, that shall also serve to revoke the emergency license of the emergency public adjuster immediately and without notice or hearing. D. Public Adjuster Trainee Registration - An individual, who is undergoing education and training as a public adjuster under the direction and supervision of a licensed public adjuster for a period not exceeding twelve (12) months may act as a public adjuster without having a public adjuster's license, upon the following conditions: 1. At the beginning of such training period, the name of such trainee shall be registered as such with the Commissioner along with the information regarding the licensed public adjuster who is training the public adjuster trainee; and, 2. Submission of a registration fee in the amount of Fifty Dollars ($50.00) as set forth in Miss. Code Ann. § 27-15-97, shall be submitted to the Commissioner at the time of registration. Source: Miss. Code Ann. §§83-5-1; 83-17-501 (Rev. 2011) |