An Insurance Adjuster Surety Bond is a license and permit surety bond required by some state departments of insurance to have an adjuster license. An Insurance adjuster is someone who investigates insurance claims or claims for damages and recommends an effective settlement. There are three classes of adjusters: staff or company adjusters (employed by an insurance company or self-insured entity), independent adjusters (independent contractors hired by the insurance company) and public adjusters (employed by the policyholder). The surety bond protects any person or persons for whom the adjuster rendered services from fraud, dishonesty, misstatement, misrepresentation, deceit and or any unlawful acts or omissions as they investigate the claim and issue their settlement recommendations.
These are also known as Public Adjuster surety bonds and Independent Adjuster surety bonds.