Licensing Requirements

Licensing Requirements The Department shall issue licenses to public adjusters and emergency public adjusters in the State of Mississippi. The licensing procedure and requirements are as follows: A. Individual Public Adjuster License - To apply for this license, an applicant must provide the following information and meet the following conditions. 1. Licensing Requirements: a. Applicant is at least twenty-one (21) years of age; b. Applicant is a bona fide resident of this state, or is a resident of a state which will permit residents of this state to act as a public adjuster in such other state; c. Applicant is a trustworthy person, reliable, and of good reputation, evidence of which shall be determined through an investigation of the commissioner; d. Applicant has had experience or special education or training with reference to the handling of loss claims under insurance contracts of sufficient duration and extent to make him competent to fulfill the responsibilities of a public adjuster, as will be discussed further in this Regulation; e. Applicant has successfully passed an examination as required by the Commissioner or has been exempted according to the provisions of the Act and this Regulation; f. Applicant is financially responsible to exercise the license. To demonstrate financial responsibility, a person applying for a public adjuster license shall: 1. Obtain a bond or irrevocable letter of credit prior to issuance of a license and shall maintain the bond or letter of credit for the duration of the license with the following limits: a. A surety bond executed and issued by an insurer authorized to issue surety bonds in Mississippi, which bond shall: i. Be in the minimum amount of Fifty Thousand Dollars ($50,000.00); ii. Be in favor of the State of Mississippi; iii. Specifically authorize recovery of any person in Mississippi who sustained damages as the result of the public adjuster's erroneous acts, failure to act, conviction of fraud, or conviction for unfair trade practices in his or her capacity as a public adjuster; and iv. Not be terminated unless written notice is given to the licensee at least thirty (30) days prior to the termination; or b. An irrevocable letter of credit issued by a qualified financial institution, which letter of credit shall: i. Be in the minimum amount of Fifty Thousand Dollars ($50,000.00); ii. Be subject to lawful levy of execution on behalf of any person to whom the public adjuster has been found to be legally liable as the result of erroneous acts, failure to act, conviction of fraud, or conviction for unfair practices in his or her capacity as a public adjuster; and iii. Not be terminated unless written notice is given to the licensee at least thirty (30) days prior to the termination. 2. The commissioner may ask for evidence of financial responsibility at any time the commissioner deems relevant. 3. If the evidence of financial responsibility terminates or becomes impaired, the public adjuster license shall: a. Automatically terminate; and b. Be promptly surrendered to the commissioner without demand. g. Submission of the license and application fee as set forth in Miss. Code Ann. § 27-15-97; and, h. Has not committed any act that is a ground for probation, suspension, revocation, or refusal of a license as set forth in Section 83-17-519. B. Nonresident Public Adjuster License – a nonresident applying for a public adjuster license must meet the requirements as provided in Subsection A of this section, and must also: 1. Provided documentation that the person is currently licensed in good standing as a public adjuster in their home state; and, 2. The applicant’s designated home state issues nonresident Public Adjuster licenses to residents of Mississippi on the same basis. C. Business Entity Public Adjuster License- A business entity acting as a resident public adjuster is required to obtain a public adjuster license. 1. A business entity applying for a resident public adjuster license shall make an application to the commissioner on the appropriate uniform business entity application, in a form or format prescribed by the commissioner. 2. An applicant under paragraph (1) of this subsection shall declare under penalty of suspension, revocation, or refusal of the license that the statements made in the application are true, correct, and complete to the best of the business entity's knowledge and belief. 3. Before approving an application submitted under paragraph (a) of this subsection, the commissioner shall find that the business entity: a. Is eligible to designate Mississippi as its home state; b. Has designated a licensed adjuster or public adjuster responsible for the business entity's compliance with the insurance laws and regulations of Mississippi; c. Has not committed an act that is a ground for probation, suspension, revocation, or refusal of a public adjuster's license as set forth in Section 83- 17-519; and d. Has paid the privilege tax pursuant to Section 27-15-97. 4. Each public adjuster employed or connected to the business entity adjusting claims in Mississippi must also hold an individual public adjuster license. D. Emergency License - The Commissioner may issue Emergency Licenses in the event of a catastrophe or emergency which arises out of a disaster, Act of God, riot, civil commotion, conflagration or other similar occurrence to persons who are residents or nonresidents of this state and who may or may not be licensed as public adjusters. 1. To apply for this emergency license, an applicant must provide the following information and meet the following conditions: a. An applicant must be certified by either a person licensed under the provisions of the Act, or by any other person as approved by the Commissioner. Certification shall mean any written representations addressed to the Commissioner concerning the integrity, competence and qualification of a person, in form and content satisfactory to the Commissioner. Any person who certifies an applicant shall be responsible for the loss or claims practices of the emergency license holder; b. The application and certification must be filed with the Department within five (5) days of the applicant beginning work as a public adjuster; and, c. Submission of the license and application fee in the amount of Fifty Dollars ($50.00), submitted to the Commissioner within thirty (30) days of the issuance of the emergency license. 2. Emergency licenses shall be in force for ninety (90) days and may be extended for an additional ninety (90) day period by the Commissioner. 3. Should the public adjuster who certifies the emergency public adjuster either forfeit, surrender, or have his license revoked by the Commissioner, that shall also serve to revoke the emergency license of the emergency public adjuster immediately and without notice or hearing. E. Public Adjuster Trainee Registration - An individual who is undergoing education and training as a public adjuster under the direction and supervision of a licensed public adjuster for a period not exceeding twelve (12) months may act as a public adjuster without having a public adjuster’s license, upon the following conditions: 1. At the beginning of such training period, the name of such trainee shall be registered as such with the Commissioner along with the information regarding the licensed public adjuster who is training the public adjuster trainee; and, 2. Submission of a registration fee as set forth in Miss. Code Ann. § 27-15-97, shall be submitted to the Commissioner at the time of registration.