A Surety Bond for Public Adjusters may be filed with the Mississippi Insurance Department. The surety bond may be used in lieu of errors and omissions liability insurance coverage and must be in a coverage amount of $50,000. The surety bond secures prompt payment of all claims arising and accruing to any persons who sustained damages as a result of the bonded principals erroneous acts, failure to act, conviction of fraud, or conviction of unfair practices as a public adjuster. Furthermore, the bond ensures faithful discharge and performance of the duties required pursuant to the provisions of all applicable laws, including Title 83 of the Mississippi Code and Mississippi Insurance Department Regulation 2007-4.
