This bill amends the Code of West Virginia to establish new definitions and requirements for public adjusters, including the introduction of terms such as "catastrophic disaster" and "public adjuster." It outlines a comprehensive application process for obtaining a public adjuster license, which includes submitting fingerprints for criminal history checks and affirming the truthfulness of the application under penalty of perjury. The bill also specifies exemptions from licensure for certain professionals, such as attorneys and licensed health care providers, and sets forth the requirements for both resident and nonresident public adjuster licenses, including the necessity of passing a written examination unless exempted.

In addition to licensing requirements, the bill introduces new standards of conduct for public adjusters, emphasizing their duty to act in the best interest of their clients. It mandates that contracts between public adjusters and clients be in writing, include detailed information about services and compensation, and prohibits charging more than 10% of the settlement amount. The legislation also requires public adjusters to maintain records for at least five years, report any administrative actions or criminal prosecutions to the commissioner, and disclose financial transactions to clients within three business days. Overall, the bill aims to enhance transparency, accountability, and ethical practices within the public adjusting profession, ensuring better protection for insured individuals throughout the claims process.

Statutes affected:
Introduced Version: 33-12B-1, 33-12B-2, 33-12B-3, 33-12B-5a, 33-12B-5b, 33-12B-5c, 33-12B-5d, 33-12B-5e, 33-12B-5f, 33-12B-5g, 33-12B-16, 33-12B-17, 33-12B-18, 33-12B-19, 33-12B-20, 33-12B-21
Committee Substitute: 33-12B-1, 33-12B-3, 33-12B-5a, 33-12B-5b, 33-12B-5c, 33-12B-5d, 33-12B-5e, 33-12B-5f, 33-12B-5g, 33-12B-16, 33-12B-17, 33-12B-18, 33-12B-19, 33-12B-20, 33-12B-21
Engrossed Committee Substitute: 33-12B-1, 33-12B-3, 33-12B-5a, 33-12B-5b, 33-12B-5c, 33-12B-5d, 33-12B-5e, 33-12B-5f, 33-12B-5g, 33-12B-16, 33-12B-17, 33-12B-18, 33-12B-19, 33-12B-20, 33-12B-21