Puerto Rico Surety Bonds for Non-Resident Public Adjusters
The Office of the Commissioner of Insurance, Commonwealth of Puerto Rico, issues licenses for Non-Resident Public Adjusters in Puerto Rico. A part of the licensing process includes obtaining a $10,000 surety bond.
Unlike adjusters who are hired to work on behalf of an insurance company, public adjusters are hired by the policy holder to represent them in a claim.
License and Surety Bond Requirements:
Individual applicants must meet the following requirements for a Public Adjuster license:
- Must be at least 18 years old
- Applicants who are not U.S. citizens must have a resident license for selling insurance in one of the states
- Applicant must use NRAR (National Insurance Producer Registry) if they are within the renewal period
- Provide a $10,000 surety bond
- Applicants who have had a license suspended or revokes and wants to amend or apply for a license must contact the Office of the Commissioner of Insurance of Puerto Rico
- Independent or public adjusters may not hold any other license type
- Applicants may not have any serious RIRS (Regulatory Information Retrieval System) actions
- Applicants may not have any 1033 actions
- Applicant must submit supporting documents for any "yes" answer to background questions
- Complete the license application either for a business entity or individual through the NIPR registry.
- Pay a state license fee of $420
How Much Will This Bond Cost?
The premium you pay for a Puerto Rico Non-Resident Adjuster Bond is based on your credit. Rates start as low as $100 with your good credit. Contact our Surety Bond Specialists for a free quote.
Did You Know?
Emergency public adjusters must also provide a $10,000 surety bond. The license is valid for six months and is not renewable.
Related Links:
National Insurance Producer Registry (NIPR)Office of the Commissioner of Insurance of Puerto Rico
More Surety Bond Questions?
Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, buy from us. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.
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