Bill > SB208

This bill establishes a licensing and regulatory framework for "all-lines adjusters," which are individuals or entities that investigate, negotiate, or settle property, casualty, or workers' compensation claims on behalf of insurers or self-insurers. Under this legislation, no one can act as an all-lines adjuster without first obtaining a license from the State Corporation Commission (SCC). The bill outlines requirements for obtaining a license, including passing an examination, undergoing a background check, and maintaining a surety bond. It also mandates that all-lines adjusters adhere to specific standards of conduct, complete continuing education requirements, and report certain changes or convictions to the SCC. The SCC is granted the authority to suspend or revoke licenses for violations of these provisions, and the bill specifies a delayed effective date of January 1, 2027.

Budget and Finance, Business and Industry

https://lis.virginia.gov/bill-details/20261/SB208