Insurance Adjuster Bond - California

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Bond Description

The Insurance Adjuster Bond requirement is set forth in the California Insurance Code Sections 14050 and 14054, to be in favor, and payable to the People of the State of California and is structured to benefit any person or persons damaged by acts made by the insurance adjusters characterized by fraud, dishonesty, misstatement, misrepresentation, deceit and or any unlawful acts or omissions by the insurance broker. The Surety Company who issued the insurance adjuster bond on behalf of the agent or broker must validate each claim and in the event the insurance agent or broker is found negligent, the Surety Company must pay the damages sought in the bond claim.

Bond AmountCostTermApply Now
$2,000$1252 YearBUY NOW

Bond Details

Requiring Entity
The state of California, Department of Insurance
Underwriting Criteria
Instant Issue No Credit Check
Premium Rate(s)
2 Two Years - $125.00

Who is Required to Secure this California Insurance Adjuster Bond

A California Insurance Adjuster Bond in the amount of $2,000 is mandatorily required to be filed with the State of California, Department of Insurance, as set forth in the California Insurance Code Sections 14050 and 14054, for all licensed insurance adjusters.

California Insurance Adjuster Bond Requirement Specifics

The Insurance Adjuster Bond requirement is set forth in the California Insurance Code Sections 14050 and 14054, to be in favor, and payable to the People of the State of California and is structured to benefit any person or persons damaged by acts made by the insurance adjusters characterized by fraud, dishonesty, misstatement, misrepresentation, deceit and or any unlawful acts or omissions by the insurance broker. The Surety Company who issued the insurance adjuster bond on behalf of the agent or broker must validate each claim and in the event, the insurance agent or broker is found negligent, the Surety Company must pay the damages sought in the bond claim.

Who is protected Under this California Insurance Adjuster Bond

Any person or persons for whom the insurance adjuster rendered services.

Underwriting Process

California Insurance Adjuster Bonds are INSTANTLY ISSUED without the need of a personal credit check of the adjuster so long as they have been provided an insurance license by the State of California.

What you Need to do Once you have your California Insurance Adjuster Bond

As the original Insurance Adjuster bond must be filed with the State of California, Department of Insurance, the original bond will be mailed to the adjuster within 24 hours of submitting their application online. The adjuster will need to forward the original bond to the State of California, Department of Insurance for filing. The bond will be placed in the regular mail unless the insurance adjuster opts to pay the fee associated with overnight delivery during the application process.

Obligee Link

www.insurance.ca.gov

* Please be advised that the quote you obtain for this bond may include a fee charged and retained by The Bond Exchange.