Surety Bonds for a New York Resident and Non-Resident Public Adjuster (PA)

Resident and non-resident public insurance adjusters (PA's) in New York must be licensed and file a $1,000 surety bond with the state in order to provide services.

Adjuster's determine how much an insurance company pays a policy holder for a claim. There are three types of insurance adjusters:

• Staff adjusters: Employees of an insurance company. They work on behalf of the company when a claim is made by a policy holder. They may not need a license if they are working under their company's license.
• Independent adjusters: Independent contractors who are hired by an insurance company.
• Public adjusters: Hired by an insurance policy holder to represent them in a claim. They negotiate with the insurance company's adjuster.

Resident and non-resident public adjusters are licensed by New York's Department of Financial Services, Insurance Division.

Licensing and Surety Bond Requirements:

A NY resident and non-resident public adjuster license expires on Dec. 31 of even years. Licensing requirements include:

• Must be at least 18 years of age
• Never committed a felony or crime involving fraudulent or dishonest practices, unless they have received a certificate of good conduct by the Board of Parole
• Pass the NY public adjuster exam
• Provide electronic fingerprints
• Provide five Certificates of Character
• Submit an application
• Provide proof of filing a partnership, corporation, limited liability, or trade name
• Pay licensing fees: $100 for a full year or $50 for half a year
• Provide a $1,000 surety bond. The bond expires on Dec. 31 of even years.

What Will This Bond Cost?

The premium you pay for a New York resident and non-resident public adjuster surety bond is based on your credit. Our rates start at $100 with good credit. Contact our Surety Bond Specialists for a free quote that fits your specific situation.

Did You Know?

New York licensing is not reciprocal with any other state. Out-of-state adjusters must take the New York state exam.