402-D:17 Standards of Conduct of Public Adjuster.
I. A public adjuster shall be honest and fair in all communications with the insured, the insurer, and the public.
II. A public adjuster shall not solicit, or attempt to solicit, an insured during the progress of a loss-producing occurrence, as defined in the insured's insurance contract.
III. A public adjuster shall not permit an unlicensed employee or representative of the public adjuster to advertise, engage insureds, furnish reports, or present bills to insureds, or in any manner whatsoever to conduct business for which a license is required under this chapter.
IV. A public adjuster shall not have a direct or indirect financial interest in any aspect of the claim, other than the salary, fee, commission, or other consideration established in the written contract with the insured.
V. A public adjuster shall not require any interest in salvage of property subject to the contract with the insured unless the public adjuster obtains written permission from the insured after settlement of the claim with the insurer.
VI. The public adjuster shall abstain from referring or directing the insured to get needed repairs or services in connection with a loss from any person:
(a) With whom the public adjuster has a financial interest; or
(b) From whom the public adjuster may receive direct or indirect compensation for the referral.
VII. A public adjuster shall not enter into a contract with an insured where the public adjuster knows or should know that the insured will obtain full recovery without the services of an adjuster.
VIII. No public adjuster shall have any interest in any construction firm, salvage firm, building appraisal firm, motor vehicle repair shop or any other firm which performs any work in conjunction with damages caused by an insured loss. The word "firm" shall include any corporation, partnership, association, joint stock company, or person.
IX. Any compensation or anything of value received by a public adjuster shall be disclosed by such adjuster to the insured in writing including the source and amount of such.
X. No public adjuster may employ, be employed by, or be in partnership with or receive or pay any remuneration whatsoever to or from any licensed insurance producer, insurer, or employee of an insurer arising out of the activities as a public adjuster.
Source. 2006, 9:1, eff. May 2, 2006.