AB357: Bill Text

AB357,10,25 629.10 Prohibitions. In addition to the other prohibitions in this chapter, a public adjuster may not engage in any of the following activities:

AB357,11,2 (1) Solicit, or attempt to solicit, an insured during the progress of a loss-producing occurrence, as defined in the insured's insurance policy.

AB357,11,4 (2) Allow an unregistered employee or representative to perform an adjusting service for which registration is required under this chapter.

AB357,11,7 (3) Own a direct or indirect financial interest in any aspect of a claim, other than the compensation agreed to under s. 629.04 (1) (f), unless notification is provided to the insured under s. 629.06.

AB357,11,9 (4) Acquire an interest in salvage of the insured's property unless obtaining written permission from the insured after settlement of the claim.

AB357,11,13 (5) Refer the insured to a person in whom the public adjuster has a direct or indirect financial interest or from whom the public adjuster may directly or indirectly receive anything of value for the referral unless notification is provided to the insured under s. 629.06.

AB357,11,14 (6) Solicit an insured outside the hours of 9 a.m. and 6 p.m.

AB357,11,17 (7) Undertake an adjusting service without being competent and knowledgeable about the terms and conditions of the insured's insurance coverage or if the loss or coverage exceeds the public adjuster's expertise.

AB357,11,19 (8) Knowingly make a false material statement regarding any person engaged in the business of insurance to a client or potential client.

AB357,11,21 (9) Act as an adjuster for an insurer or independent adjuster while registered under s. 629.02.

AB357,11,23 (10) Agree to a settlement without the insured's knowledge and written consent.

AB357,12,3 629.11 Continuing education. (1) A public adjuster shall complete, on a biennial basis, a minimum of 15 credits of continuing education, including 3 credits of ethics. Each credit shall consist of at least 50 minutes of instruction and shall be approved by the commissioner. A public adjuster shall report the credits in conjunction with the registration renewal under s. 629.02 (4).

AB357,12,10 (2) An individual who is not a resident of this state and who is a licensed or registered public adjuster in the individual's state of residence and complies with continuing education requirements in that state that are substantially similar to the requirements under sub. (1) may submit to the commissioner proof of compliance with that state's requirements. If the individual's state of residence provides credit to the residents of this state on a reciprocal basis, the commissioner shall accept the proof of compliance as meeting the requirement under sub. (1).

AB357,12,16 629.12 Reporting of administrative and criminal actions. (1) A public adjuster shall report to the commissioner any administrative action related to the business of insurance that is taken against the public adjuster by a governmental agency or regulatory body. The report shall be made no later than 30 days after the final disposition of the matter and shall include a copy of the order, consent to order, or similar document.

AB357,12,21 (2) A public adjuster shall report to the commissioner any criminal prosecution taken against the public adjuster in any jurisdiction. The report shall be made no later then 30 days after the date of the initial pretrial hearing and shall include a copy of the complaint, the order from the hearing, and any other information required by the commissioner.

AB357,12,25 629.13 Denial, suspension, or revocation of registration. The commissioner may, after a hearing, deny, suspend, revoke, or refuse to renew an individual's registration under s. 629.02 (2) or (4) or may levy a civil penalty, or both, upon a finding that the individual has done any of the following:

AB357,13,2 (1) Provided false, misleading, or incomplete information in the registration application.

AB357,13,3 (2) Failed to comply with any provision in this chapter.

AB357,13,5 (3) Violated any insurance law or rule or any subpoena or order of the commissioner or insurance regulatory body of another state.

AB357,13,7 (4) Obtained, or attempted to obtain, registration as a public adjuster through misrepresentation or fraud.

AB357,13,9 (5) Misappropriated or otherwise improperly handled money or property received in the course of doing business as a public adjuster.

AB357,13,10 (6) Intentionally misrepresented the terms of an insurance policy.

AB357,13,12 (7) Been convicted of a felony related to the duties and obligations of a public adjuster or the business of insurance.

AB357,13,14 (8) Admitted to committing, or is found to have committed, any insurance unfair trade practice or insurance fraud.

AB357,13,17 (9) Used fraudulent, coercive, or dishonest practices, or demonstrated incompetence, untrustworthiness, or financial irresponsibility, in the conduct of business in any jurisdiction.

AB357,13,19 (10) Had an intermediary license or public adjuster license or registration denied, suspended, or revoked in any jurisdiction.

AB357,13,20 (11) Cheated on an examination for a public adjuster license or registration.

AB357,13,22 (12) Misrepresented to a person that the individual represents or is employed by an insurer in any capacity, including as an independent adjuster.

AB357,13,24 (13) Failed to maintain evidence of financial responsibility as required by the commissioner.

AB357,8 Section 8. Effective date.

AB357,14,2 (1) This act takes effect on the first day of the 4th month beginning after publication.

AB357,14,3 (End)