The New Mexico Independent Adjuster Bond is required by the Office of Superintendent of Insurance. The bond amount is set at $10,000. It states that the bondholder shall comply with the provisions of the New Mexico Insurance Code.
An Independent Adjuster investigates, negotiates, settles or adjusts a loss or claim when there is an insurance contract. This is done on behalf of an insurer, insured or self-insurer, for a fee, commission or other compensation. In addition, they advise on the rights to settle, arbitrate and litigate the dispute.
Who needs to have an Independent Adjuster Bond?
The Agents Licensing Bureau is responsible for the licensing and regulation of individuals and businesses in the State of New Mexico. The Independent Adjuster Bond is one of the licensing requirements in becoming an Independent Adjuster.
What are the other licensing requirements?
Applicants are required to take a licensing exam. The Office of Superintendent of Insurance has contracted with Prometric to conduct its examination program. Applicants are also required to get fingerprinted. New Mexico’s Department of Public Safety has partnered with 3M Cogent to provide the fingerprinting services. Lastly, applicants must submit their application through the NIPR electronic licensing system.
Where can I get a New Mexico Independent Adjuster Bond?
Start the process by completing our easy to navigate, online application form. Next, one of our agents will contact you with a no-obligation quote. When you are ready to proceed, we will collect the premium payment and have you sign some paperwork. After that, your New Mexico Independent Adjuster Bond will be mailed out to you. You have the option of USPS Priority Mail or Overnight shipping, for an additional fee.
Here at Surety1, we understand the need for a simpler process in applying for surety bonds. We have been writing Surety Bonds since 2003 and are licensed in every state. We have partnered with several surety markets who are ranked A in order to offer the best rates to our customers. Our excellent service has led us to an A+ rating from the Better Business Bureau.