Indiana Code 27-1-28-14. Qualifications; renewal; fees; expiration; content of license; change of information; contract for administration
(1) Property and casualty insurance.
Terms Used In Indiana Code 27-1-28-14
- Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
- Contract: A legal written agreement that becomes binding when signed.
- home state: means :
Indiana Code 27-1-28-5
- independent adjuster: means a person, or an independent contractor or employee of a person, that:
Indiana Code 27-1-28-6
- Insurance: means a contract of insurance or an agreement by which one (1) party, for a consideration, promises to pay money or its equivalent or to do an act valuable to the insured upon the destruction, loss or injury of something in which the other party has a pecuniary interest, or in consideration of a price paid, adequate to the risk, becomes security to the other against loss by certain specified risks; to grant indemnity or security against loss for a consideration. See Indiana Code 27-1-2-3
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(b) An independent adjuster licensed under this chapter is not required to hold another independent adjuster, insurance producer, or insurance administrator license in Indiana.
(c) An independent adjuster license:
(1) is effective for two (2) years after the date of issuance unless probated, suspended, revoked, or refused; and
(2) may be renewed if all requirements for renewal, including submission to the commissioner of a renewal fee of forty dollars ($40), are met on or before the renewal date.
(d) If an independent adjuster license expires, the independent adjuster may, within twelve (12) months after the date of expiration, be reissued an independent adjuster license upon receipt by the commissioner of:
(1) a request for reissuance, as prescribed by the commissioner; and
(2) a reissuance fee of eighty dollars ($80).
(e) An independent adjuster who is unable to comply with the license renewal requirements of this section due to:
(1) military service;
(2) long term medical disability; or
(3) another extenuating circumstance determined by the commissioner;
may request a waiver of the renewal requirements or applicable sanction.
(f) A license issued under this chapter must contain the following:
(1) The licensee’s name, address, and personal identification number.
(2) The date of issuance.
(3) The date of expiration.
(4) Other information considered necessary by the commissioner.
(g) An independent adjuster is subject to IC 27-4-1-4.5.
(h) An independent adjuster shall, not more than thirty (30) days after the occurrence of a change of the independent adjuster’s:
(1) legal name; or
(2) home state address;
provide written notice to the commissioner of the change.
(i) The commissioner may contract with a nongovernmental entity to perform ministerial functions required by this section, including the collection of data and fees related to licensing.
As added by P.L.11-2011, SEC.22.