Montana Code 33-17-303. Public adjuster standards of conduct
33-17-303. Public adjuster standards of conduct. A public adjuster:
Terms Used In Montana Code 33-17-303
- Adjuster: means a person who, on behalf of the insurer, for compensation as an independent contractor or as the employee of an independent contractor or for a fee or commission investigates and negotiates the settlement of claims arising under insurance contracts or otherwise acts on behalf of the insurer. See Montana Code 33-17-102
- Contract: A legal written agreement that becomes binding when signed.
- License: means a document issued by the commissioner that authorizes a person to act as an insurance producer for the lines of authority specified in the document. See Montana Code 33-17-102
- Person: means an individual or a business entity. See Montana Code 33-17-102
- Property: means real and personal property. See Montana Code 1-1-205
- Public adjuster: means an adjuster retained by and representing the interests of the insured. See Montana Code 33-17-102
- Solicit: means attempting to sell insurance or asking or urging a person to apply for a particular kind of insurance. See Montana Code 33-17-102
(1)is obligated to serve with objectivity and loyalty to the interest of the insured alone;
(2)may not solicit or attempt to solicit an insured during the progress of a loss-producing occurrence, as defined in the insured’s insurance contract;
(3)may not permit an unlicensed employee or representative of the public adjuster to conduct business for which a license is required;
(4)may not acquire any interest in the salvage of property subject to the contract with the insured without written permission from the insured;
(5)shall abstain from referring or directing the insured to any person with whom the public adjuster has a financial interest unless disclosed to the insured pursuant to 33-17-302(4).