North Carolina Public Adjuster Insurance Bonds

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Public Adjuster Bonds And Getting Your North Carolina Business License/Registration

Non-Resident North Carolina Public Adjusters are required to submit a complete application, show proof of financial responsibility by furnishing a $20,000 surety bond or an irrevocable letter of credit and pay license fees to secure the license in the state. Non-Resident Pubic Adjusters designating North Carolina as their home state for licensing purposes must meet the resident licensing qualifications outlined below.

North Carolina Resident Individual Public Adjusters must take and successfully pass the state examination, show proof of financial responsibility by posting a $20,000 bond or an irrevocable letter of credit, electronically submit a complete set of the fingerprints for a state and federal criminal history background check. Residents applicants must also meet the qualifications set forth in NCGS 58-33A-20 and NCGS 58-33A-45.

Additional North Carolina Public Adjuster Bond Resources & Links

North Carolina Department of Insurance (NCDOI) - Public Adjusters

The state of North Carolina uses the NAIC Public Adjuster Licensing Model Act and requires both individuals and business entities that serve as a public adjuster in the state obtain a license pursuant to N.C. General Statute 58-33A-10. 2.

In North Carolina, "Public adjuster" is defined as:

"insurance adjusters who do not work for any insurance company. They work for the insured to assist in the preparation, presentation, and settlement of the claim. The insured hires them by signing a contract agreeing to pay them a fee or commission based on a percentage of the settlement or other method of compensation. Additionally, NCGS 58-33A-5 defines a “Public adjuster” as any person who, for compensation or any other thing of value on behalf of the insured:

(1) Acts or aids, solely in relation to first party claims arising under insurance contracts that insure the real or personal property of the insured, on behalf of an insured in negotiating for, or effecting the settlement of, a claim for loss or damage covered by an insurance contract;

(2) Advertises for employment as an public adjuster of insurance claims or solicits business or represents himself or herself to the public as a public adjuster of first party insurance claims for losses or damages arising out of policies of insurance that insure real or personal property; or

(3) Directly or indirectly solicits business, investigates or adjusts losses, or advises an insured about first party claims for losses or damages arising out of policies of insurance that insure real or personal property for another person engaged in the business of adjusting losses or damages covered by an insurance policy, for the insured."