AB357,8,2020 (b) A clear statement of the insured's right to file a complaint.
AB357,8,2221 (c) Information on how the insured may obtain a complaint form by contacting
22the office of the commissioner or from the office's Internet site.
AB357,8,2423 (d) The office of the commissioner's mailing address and phone numbers and
24the address of the office's Internet site.
AB357,9,6
1629.05 Compensation. (1) In this section, “catastrophic disaster” means an
2event that results in large numbers of deaths and injuries, causes extensive damage
3or destruction of facilities that provide and sustain human needs, produces an
4overwhelming demand on state and local response resources, causes a severe
5long-term effect on general economic activity, and severely affects state, local, and
6private-sector capabilities to begin and sustain response activities.
AB357,9,8 7(2) The contract under s. 629.04 shall clearly disclose the compensation the
8public adjuster is to receive from the insured.
AB357,9,12 9(3) If an insurer pays, or commits in writing to pay, the policy limit no later than
105 business days after the date the loss is reported to the insurer, the only
11compensation a public adjuster may receive from the insured shall be compensation
12at a reasonable hourly rate for the time spent on the claim.
AB357,9,14 13(4) A public adjuster may not demand compensation from the insured prior to
14the insured receiving payment from the insurer.
AB357,9,17 15(5) If an insurer pays a claim in installments, the public adjuster shall receive
16the compensation in equal amounts prorated over the number of checks issued by the
17insurer and may not demand to be paid entirely from the first check issued.
AB357,9,20 18(6) A public adjuster may not receive compensation in excess of 10 percent of
19an insured's actual recovery under the insurance policy if the claim is due to a
20catastrophic disaster.
AB357,9,25 21629.06 Disclosure of additional compensation. A public adjuster may not
22directly or indirectly accept compensation or anything else of value from an insured
23and a person who provides estimates for work or performs work in conjunction with
24damage or loss under a claim subject to a contract under s. 629.04 unless the public
25adjuster provides the insured with prior written notice. The notice shall clearly and

1conspicuously disclose any direct or indirect financial interest that the public
2adjuster has in the other person and all amounts to be paid, directly or indirectly, by
3the other person to the public adjuster. The notice shall be in the form prescribed by
4the commissioner and be provided prior to the date the insured incurs an obligation
5to make any payment under the contract or to the other person.
AB357,10,10 6629.07 Assignment of proceeds prohibited. (1) A public adjuster may not
7request or accept an assignment of insurance policy proceeds from an insured with
8whom the public adjuster has entered into a contract under s. 629.04. An insurer
9may not be required to honor an assignment of insurance policy proceeds to a public
10adjuster.
AB357,10,13 11(2) A public adjuster may request that an insurer include both the public
12adjuster and the insured on a check paying all or part of the proceeds of an insurance
13policy if the contract under s. 629.04 permits joint payment of proceeds.
AB357,10,18 14629.08 Escrow of funds. A public adjuster who, on behalf of an insured,
15receives, accepts, or holds any funds for the settlement of a first-party claim shall
16deposit the funds in a noninterest-bearing escrow account in a federally insured
17financial institution that is located in the state in which the insured resides or the
18loss occurred.
AB357,10,23 19629.09 Contractors. A public adjuster may not require an insured to use a
20particular contractor or vendor and may not take any action that vests the effective
21authority with the public adjuster to choose a person to perform work on the insured's
22claim. A contract under s. 629.04 shall state that the insured may choose any
23contractor or vendor.
AB357,10,25 24629.10 Prohibitions. In addition to the other prohibitions in this chapter, a
25public adjuster may not engage in any of the following activities:
AB357,11,2
1(1) Solicit, or attempt to solicit, an insured during the progress of a
2loss-producing occurrence, as defined in the insured's insurance policy.
AB357,11,4 3(2) Allow an unregistered employee or representative to perform an adjusting
4service for which registration is required under this chapter.
AB357,11,7 5(3) Own a direct or indirect financial interest in any aspect of a claim, other
6than the compensation agreed to under s. 629.04 (1) (f), unless notification is
7provided to the insured under s. 629.06.
AB357,11,9 8(4) Acquire an interest in salvage of the insured's property unless obtaining
9written permission from the insured after settlement of the claim.
AB357,11,13 10(5) Refer the insured to a person in whom the public adjuster has a direct or
11indirect financial interest or from whom the public adjuster may directly or
12indirectly receive anything of value for the referral unless notification is provided to
13the insured under s. 629.06.
AB357,11,14 14(6) Solicit an insured outside the hours of 9 a.m. and 6 p.m.
AB357,11,17 15(7) Undertake an adjusting service without being competent and
16knowledgeable about the terms and conditions of the insured's insurance coverage
17or if the loss or coverage exceeds the public adjuster's expertise.
AB357,11,19 18(8) Knowingly make a false material statement regarding any person engaged
19in the business of insurance to a client or potential client.
AB357,11,21 20(9) Act as an adjuster for an insurer or independent adjuster while registered
21under s. 629.02.
AB357,11,23 22(10) Agree to a settlement without the insured's knowledge and written
23consent.
AB357,12,3 24629.11 Continuing education. (1) A public adjuster shall complete, on a
25biennial basis, a minimum of 15 credits of continuing education, including 3 credits

1of ethics. Each credit shall consist of at least 50 minutes of instruction and shall be
2approved by the commissioner. A public adjuster shall report the credits in
3conjunction with the registration renewal under s. 629.02 (4).
AB357,12,10 4(2) An individual who is not a resident of this state and who is a licensed or
5registered public adjuster in the individual's state of residence and complies with
6continuing education requirements in that state that are substantially similar to the
7requirements under sub. (1) may submit to the commissioner proof of compliance
8with that state's requirements. If the individual's state of residence provides credit
9to the residents of this state on a reciprocal basis, the commissioner shall accept the
10proof of compliance as meeting the requirement under sub. (1).
AB357,12,16 11629.12 Reporting of administrative and criminal actions. (1) A public
12adjuster shall report to the commissioner any administrative action related to the
13business of insurance that is taken against the public adjuster by a governmental
14agency or regulatory body. The report shall be made no later than 30 days after the
15final disposition of the matter and shall include a copy of the order, consent to order,
16or similar document.
AB357,12,21 17(2) A public adjuster shall report to the commissioner any criminal prosecution
18taken against the public adjuster in any jurisdiction. The report shall be made no
19later then 30 days after the date of the initial pretrial hearing and shall include a
20copy of the complaint, the order from the hearing, and any other information
21required by the commissioner.
AB357,12,25 22629.13 Denial, suspension, or revocation of registration. The
23commissioner may, after a hearing, deny, suspend, revoke, or refuse to renew an
24individual's registration under s. 629.02 (2) or (4) or may levy a civil penalty, or both,
25upon a finding that the individual has done any of the following:
AB357,13,2
1(1) Provided false, misleading, or incomplete information in the registration
2application.
AB357,13,3 3(2) Failed to comply with any provision in this chapter.
AB357,13,5 4(3) Violated any insurance law or rule or any subpoena or order of the
5commissioner or insurance regulatory body of another state.
AB357,13,7 6(4) Obtained, or attempted to obtain, registration as a public adjuster through
7misrepresentation or fraud.
AB357,13,9 8(5) Misappropriated or otherwise improperly handled money or property
9received in the course of doing business as a public adjuster.
AB357,13,10 10(6) Intentionally misrepresented the terms of an insurance policy.
AB357,13,12 11(7) Been convicted of a felony related to the duties and obligations of a public
12adjuster or the business of insurance.
AB357,13,14 13(8) Admitted to committing, or is found to have committed, any insurance
14unfair trade practice or insurance fraud.
AB357,13,17 15(9) Used fraudulent, coercive, or dishonest practices, or demonstrated
16incompetence, untrustworthiness, or financial irresponsibility, in the conduct of
17business in any jurisdiction.
AB357,13,19 18(10) Had an intermediary license or public adjuster license or registration
19denied, suspended, or revoked in any jurisdiction.
AB357,13,20 20(11) Cheated on an examination for a public adjuster license or registration.
AB357,13,22 21(12) Misrepresented to a person that the individual represents or is employed
22by an insurer in any capacity, including as an independent adjuster.
AB357,13,24 23(13) Failed to maintain evidence of financial responsibility as required by the
24commissioner.
AB357,8 25Section 8. Effective date.
AB357,14,2
1(1) This act takes effect on the first day of the 4th month beginning after
2publication.
AB357,14,33 (End)
Loading...
Loading...