It's all part of a network of adjusters, contractors and lawyers who, according to insurers, have cost companies a lot in Florida and have led to litigation, insolvency and increases in premiums. Florida now has nearly 175,000 licensed public and independent adjusters, the Department of Financial Services (DFS) said. To become a public adjuster in the state, individuals must meet certain requirements set by the DFS. Public appraisers in Florida must take 24 hours of continuing education courses specific to public appraisers to renew their license.
These courses are different from those for independent adjusters, so it's important to check the specifications of public adjusters before enrolling. Any business location that a person uses to perform a function that requires an agent's license must be licensed as an insurance agency. If you are an agent with an establishment related to your residence and have complied with Florida Law 626.749, you must obtain an agency license for that location, unless you are exempt by Florida Law 626.112 (a). Similarly, any business location that a person uses to perform a function that requires an appraiser's license must have a license as an adjustment company.
If you are an adjuster with an establishment related to your residence, you must obtain an adjustment firm license for that location, unless you are exempt by Florida Law 626,112 (a). Florida and many other states require public insurance adjusters to be licensed by the state government. This licensing requirement ensures that all individuals who offer their services as public appraisers have a basic level of competence in their field and that they comply with all relevant laws and professional standards. To obtain a Florida public appraiser's license for 3 to 20 years, applicants must complete 24 hours of continuing education courses specific to public appraisers.
Additionally, they must keep this appointment for at least six continuous months before applying for a public appraiser's license for 3 to 20 years. Once they have completed the requirements, the state government will send them an email confirmation that their Florida public appraiser license is now active. With this certification, individuals can work as staff adjusters, independent adjusters or public adjusters. The full list of requirements from the Department of Financial Services can also be found on the Florida non-resident public appraiser's website.
Unlike other types of bonds, Florida's publicly appraised bonds do not require a credit check and all major bonds qualify to receive the same low premium rate. Under the new law, state-licensed public appraisers are prohibited from receiving compensation from contractors or attorneys. These are the basic elements of the work of the public appraiser, but some of the most important aspects of the profession are determined by those for whom the adjuster works. Attorneys duly authorized to practice law in the courts of this state and who meet the requirements of the Florida Bar Association shall not be licensed under the provisions of the Texas Insurance Code to authorize them to adjust or participate in the adjustment of any claim, loss or damage that arises under insurance policies or contracts. The other major public appraiser's license in Florida is called the 6- to 20-line insurance adjuster license. Any contract concluded with a public adjuster within the year following the declaration of a state of emergency may be canceled within five business days without penalty.
The state of Florida requires all public insurance adjusters to submit a copy of their fingerprints before they can be licensed. Both difficulties will be addressed in the state's licensing statute for public appraisers, which will take effect in January 2021. A public appraiser must have a DFS license and not work for or represent your insurance company.