The California Bond of Public Insurance Adjuster is required by the State of California Department of Insurance in order to obtain a license in this profession.
A public insurance adjuster according to the CA Department of Insurance is, “a person who, for compensation, acts on behalf of or aids in any manner, an insured in negotiating for or effecting the settlement of a claim or claims for loss or damage under any policy of insurance covering real or personal property or any person who advertises, solicits business, or holds himself or herself out to the public as an adjuster of those claims and any person who, for compensation, investigates, for those losses on behalf of any public insurance adjuster.” Public insurance adjusters in the State of California must obtain a license in order to operate in this profession.
Please note there is a separate license and bond for a California Insurance Adjuster.
What are the requirements in order to be a Public Insurance Adjuster in California?
The licensing requirements for Public Insurance Adjusters will vary slightly depending on whether the applicant is an individual or a business entity, and whether the applicant is a resident or non-resident.
The licensing requirements for each applicant type can be found on the CA Department of Insurance website.
Each of these applications, regardless of applicant type, will require the applicant to file a $20,000 California Bond of Public Insurance Adjuster on form 94A.
What is the purpose of a California Bond of Public Insurance Adjuster?
In order to do business as a public insurance adjuster, you must be licensed by the Department of Insurance. In order to get that license, you must have a copy of this bond on file with the Department of Insurance. The bond is required to help ensure that all rules and regulations set forth by the state are followed.
This bond, unlike insurance, protects the clients of the license-holder. If a client feels the licensee has operated unethically or illegally, they can make a claim on the bond which the surety company (the entity issuing the bond) will pay out if settled in favor of the client. The principal on the bond (the license holder) must then repay the surety company for any losses incurred.
Where can I get a California Bond of Public Insurance Adjuster?
In order to obtain this bond, simply fill out our free online application! One of our licensed agents will contact you within one business day with a quote for the price to obtain your bond (the “premium”). If you choose to move forward after receiving your quote, we will have you sign any necessary paperwork and remit the premium payment, at which time we will ship your bond to you via USPS Priority Mail (with overnight shipping options also available).
Why choose Surety1?
At Surety1, our agents work with over a dozen “A” rated surety markets to ensure we are finding you the lowest price for your bond. We’ve been issuing surety bonds since 2003 and our quality, reliable service has led us to an A+ rating by the Better Business Bureau! Licensed in all 50 states.