Bill > SB2403

Introduced Session

An Act To Create The Mississippi Public Adjuster Professional Standards Reform Act; To Amend Section 83-17-503, Mississippi Code Of 1972, To Provide For The Licensure For Independent, Staff And Public Adjusters By The Department Of Insurance; To Provide How A Public Adjuster Shall Demonstrate Financial Responsibility; To Provide When Licenses Shall Not Be Required; To Provide For Temporary Registration For Emergency Independent Or Staff Adjusters; To Provide For The Licensing Of Nonresidents; To Create A New Section Of Law That Provides That A Public Adjuster Shall Not Provide Services To An Insured Until A Written Contract With The Insured Has Been Executed; To Provide For The Terms And The Content Of The Contract; To Create A New Section Of Law That Requires A Public Adjuster To Give An Insured Written Notice Of The Insured's Rights; To Provide The Responsibilities Of The Public Adjuster; To Create A New Section Of Law That Provides That All Funds Received Or Held By A Public Adjuster On Behalf Of An Insured Toward The Settlement Of A Claim Shall Be Handled In A Fiduciary Capacity And Deposited Into Certain Fiduciary Trust Accounts; To Create A New Section Of Law That Provides For The Commissions That A Public Adjuster May Be Charged And The Fees That A Public Adjuster May Charge; To Create A New Section Of Law That Provides Causes For The Commissioner Of Insurance To Place On Probation, Suspend Or Revoke A License Or Refuse To Renew The License; To Provide The Civil Penalties And Fines That May Be Imposed When A License Is Denied, Suspended Or Revoked; To Authorize The Commissioner To Promulgate Rules And Regulations; To Repeal Sections 83-17-505, 83-17-507 And 83-17-511, Mississippi Code Of 1972, Which Provide Certain Licensure Procedures For License As A Public Adjuster By The Commissioner Of Insurance; To Bring Forward Sections 83-17-501, 83-17-509, 83-17-513, 83-17-515, 83-17-517, 83-17-519, 83-17-521, 83-17-523, 83-17-525 And 83-17-527, Mississippi Code Of 1972, For The Purpose Of Possible Amendment; To Amend Sections 83-17-401, 83-17-403, 83-17-405, 83-17-407, 83-17-409, 83-17-411, 83-17-413, 83-17-415, 83-17-417, 83-17-419, 83-17-421, 83-17-423 And 83-17-425, Mississippi Code Of 1972, For The Purpose Of Possible Amendment; And For Related Purposes.

AI Summary

Committee Categories

Walter Michel (R)*, 

Died In Committee (on 02/04/2025)

Official Document