Relating to investigations of insurance fraud related to adjusters, appraisers, and umpires, and license and financial responsibility requirements for adjusters, and including effective date provisions

The bill also includes an investigation pursuant to, or an investigation or assignment authorized by, Code chapters 522C (licensing of adjusters) and 522F (licensing and regulation of appraisers and umpires). Under the bill, a license as an adjuster shall not be required for a licensed insurance producer appointed by, and granted claim authority by, an insurer or self-insurer. Under current law, prior to issuance of a license as an adjuster, an applicant must secure evidence of financial responsibility through a surety bond as prescribed by the commissioner, executed and issued by an insurer authorized to issue surety bonds. Additionally, the division may request evidence of financial responsibility at any time and an adjuster shall immediately notify the division if the adjuster’s evidence of financial responsibility terminates, at which time the adjuster’s license shall become inactive. The bill eliminates these requirements and instead requires that, prior to being issued a license as an adjuster, an applicant secure evidence of financial responsibility in a form and manner prescribed by the commissioner.7. The bill, being deemed of immediate importance, takes effect upon enactment.