Written Contracts and Ethical Requirements

Written Contracts and Ethical Requirements A. Written Contracts - all contracts shall be in writing, signed by the insured and the public adjuster who solicits the contract, and a copy of the contract shall be provided to the insured upon execution. Furthermore, all contracts must meet the written and ethical requirements as provided in Miss. Code Ann. Section 83-17-523 (1) and (2). B. A violation of any provision of Miss. Code Ann. § 83-17-523 may result in administrative action being taken by the Department against the public adjuster C. A copy of the written contract shall be kept for at least five (5) years after the termination of the transaction and shall be open to examination by the Commissioner at all times; and, D. A contract may be revoked or cancelled. A revocation or cancellation of a public adjuster contract shall be: 1. In writing; 2. 2. Mailed or delivered to the public adjuster at the address in the contract; and 3. Postmarked or received within the five-business-day period. E. If an insured exercises the right to revoke or cancel a contract, anything of value given by the insured under the contract to the public adjuster shall be returned to the insured within fifteen (15) business days following receipt by the public adjuster of the contract revocation or cancellation.