New Laws for Virginia Public Insurance Adjusters Result in $50k Surety Bond Requirement

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With the January 1st deadline speedily approaching, The Surety Group has made the bonding process easy and fast to assist Public Insurance Adjuster’s meet the new Surety Bond requirement.

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The Surety Group is here to assist Public Insurance Adjusters in obtaining the required Surety Bond necessary to receive licensing and operate legally in the state.

Virginia law makers have passed new legislation that requires all resident Public Adjusters that operate within the state to acquire a $50,000 Surety Bond in addition to licensing. These new requirements go in to effect on January 1, 2013. As a result of the new law, resident and non-resident adjusters will need to comply with statutes set forth by the State Corporation Commission’s Bureau of Insurance. The pre-licensing statutes by which both individuals and business entities must abide include:

  •     Proof of a $50,000 Surety Bond
  •     Pre-licensing Public Adjuster examination
  •     Criminal History Record
  •     $250.00 nonrefundable application fee
  •     Educational requirements
  •     License or authorization in home state (non-resident)

The Surety Group is here to assist Public Insurance Adjusters in obtaining the required Surety Bond necessary to receive licensing and operate legally in the state. There are several requirements to meet within a minimal amount of time and our short 3-step online application and same day approval will assist in meeting the state’s January 1st deadline. We look forward to finding solutions to all of your bonding needs. Give us a call at 800.486.8211 or visit us at http://www.suretygroup.com to get started.

To learn more about the new Virginia law licensing public insurance adjusters, visit Commissioner of Insurance Administrative Letter

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Janessa M. Wright
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