This bill addresses investigations of insurance fraud related to adjusters, appraisers, and umpires, as well as the licensing and financial responsibility requirements for adjusters. It amends existing law to include additional code chapters (522C and 522F) under the jurisdiction of the commissioner of insurance for criminal violations and investigations. Furthermore, it specifies that a licensed insurance producer appointed by an insurer or self-insurer is not required to obtain a license as an adjuster.

Significantly, the bill removes the requirement for applicants to secure evidence of financial responsibility through a surety bond, which was previously mandated. Instead, it allows applicants to provide evidence of financial responsibility in a form and manner prescribed by the commissioner. The bill also grants the insurance division the authority to adopt emergency rules to implement these changes, and it is set to take effect immediately upon enactment.

Statutes affected:
Introduced: 507E.8, 522C.7