How much does a $20,000 Nebraska public insurance adjuster license bond cost?
A $20,000 Nebraska public insurance adjuster license bond can be bought online instantly and costs $200. Once you have purchased your surety bond, it will be mailed to your preferred address. You must then sign the bond as the principal and send it with all other application materials to the Nebraska Department of Insurance.
|Bond Type||Bond Amount||Cost|
|$20,000 Public Adjuster License Bond||$20,000||$200|
Why are Nebraska public insurance adjusters bonded?
Public adjusters in Nebraska are required to be bonded to demonstrate financial responsibility on the part of the adjuster. These bonds are required by the Department of Insurance and must be issued for $20,000 on the form provided by the DOI. By submitting a surety bond, public adjusters are guaranteeing to the obligee (DOI) that up to $20,000 is avaible to cover claims as a result of the adjuter’s failure to abide by all applicable rules and regulations.
Prior to July 19, 2018, an individual holding a Nebraska insurance consultant license had the authority to act as an adjuster. However, the creation of The Nebraska Public Adjusters Licensing Act established the requirement that anyone wanting to act as an adjuster must apply for a new license.
Can public adjuster bonds be canceled?
Surety bonds for public adjusters are issued for 12-month terms and must renewed annually for as long as the adjuster wants to keep his or her license active. However, the surety may choose to cancel the bond at any time by providing the Department of Insurance with 30 days’ written notice. If a bond is canceled, the adjuster must obtain a replacement bond as soon as possible to avoid any potential penalties.
How to get a Nebraska public adjuster license
To get a resident Nebraska public adjuster license, an applicant must adhere to the following requirements:
- 18+ years of age
- Live and/or work in Nebraska and have a publicly accessible office
- Has not committed any acts described in Nebraska Revised Statutes § 44-9211 and has demonstrated trustworthiness, reliability, and a good reputation
- Earn passing score on the adjuster licensing examination
- Pay the $50 licensing fee
- Provide proof of financial responsibility in the form of a $20,000 surety bond
- Complete the uniform public adjuster license application
Non-residents can be become public adjusters in Nebraska by paying the $50 licensing fee, as long as they are licensed in his or her home state.
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Nebraska LB 743 Creates Public Adjuster Bond Requirement
Nebraska Department of Insurance: Public Adjuster License Information
Nebraska Revised Statute 44-9212