Virginia Public Insurance Adjuster License Bond

Virginia Public Insurance Adjuster License Bond

All public adjusters conducting business in Virginia must be licensed starting Jan. 1, 2013. The law applies to both resident and non-resident adjusters.

Resident adjusters are required to post a surety bond of $50,000.

The law, passed during Virginia’s 2012 legislative session, makes the state the 45th to require licenses and set standards for public insurance adjusters.

Licenses will be issued by the State Corporation Commission’s Bureau of Insurance. As a result of the new law, public adjusters will have to comply with conduct standards and continuing education requirements. Public adjusters also will have to charge fees that are fair and reasonable in relation to the work performed.

Licensing requirements include an exam for resident adjusters, with 24 hours of continuing education every two years, a criminal background check, certification of a $50,000 bond, and a $250 fee. The licenses are renewed every two years.

Virginia public insurance adjusters must purchase this bond to protect the public in the case of damages caused by any adjusters breaking local, state or national laws.
Licensing requirements for Virginia public adjusters include an exam for resident adjusters, with 24 hours of continuing education every two years, a criminal background check, certification of a $50,000 bond, and a $250 fee. The licenses are renewed every two years.
The price on your $50,000 license bond depends on your financial health, but the rates you pay start at just 0.45% when you're bonded through South Coast Surety. 0.45% is for excellent credit and financial history and the rate increases as your score drops. Don't worry, we also have great solutions for VA public adjusters with credit challenges. We'll get you bonded and help you save money!
Complete the below application and submit. You can also download and complete the PDF application and email to apps@southcoastsurety.com or fax to 949.361.9926. If you are ready to pay for this bond, please also download and complete one of our payment forms and email to apps@southcoastsurety.com