§ 27-1-27-12 — Disclosure by public adjuster of financial interests

Indiana § 27-1-27-12

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 27: Public Adjusters

Text

(a) Before entering into a contract with an
insured, a public adjuster shall provide to the insured a written
disclosure concerning any direct or indirect financial interest that the
public adjuster has with any other party that is or will be involved in
any aspect of the insured's claim, other than by receiving a salary, fee,
commission, or other consideration that will be established in the
written contract with the insured.
(b) The direct or indirect financial interests that a public adjuster
must disclose to an insured under subsection (a) includes any
ownership by the public adjuster of, or any compensation that the
public adjuster can expect to be received from, any:
(1) construction firm;
(2) salvage firm;
(3) lawyer or law firm;
(4) building appraisal firm; or
(5) board up company;
or any other firm that provides estimates for work, or performs any
work in conjunction with the insured loss to which the contract
between the public adjuster and the insured applies.

Legislative History

As added by P.L.226-2023, SEC.7.