The "West Virginia Public Adjuster Professional Standards Reform Act" establishes a regulatory framework for the licensing and operation of public adjusters in West Virginia. The bill mandates that individuals must be licensed to act as public adjusters, detailing the qualifications required for licensure, such as age, reputation, and financial responsibility. It introduces specific requirements for contracts between public adjusters and insured individuals, including the necessity for written agreements that outline the adjuster's information and the services provided. The legislation also emphasizes transparency in compensation provisions and prohibits unfair contract terms, ensuring that insured parties are adequately protected.

Additionally, the bill outlines the responsibilities of public adjusters in the claims process, including the requirement to provide written notice of insured rights and maintain fiduciary responsibility over funds. It establishes penalties for non-compliance, including potential license suspension or revocation, and grants the commissioner authority to enforce these regulations. The act is designed to enhance consumer protection and accountability within the public adjusting industry, with an effective date set for July 1, 2026.

Statutes affected:
Introduced Version: 33-64-1, 33-64-2, 33-64-3, 33-64-4, 33-64-5, 33-64-6, 33-64-7, 33-64-8, 33-64-9