Senate Committee Issues Brief on Public Adjusters
The Senate Committee on Banking and Insurance has issued a brief on public adjusters as additional legislation is contemplated for the 2011 session. The brief begins with a recap of the public adjuster reforms that were included in SB 2044, which passed both chambers of the legislature in the 2010 but was vetoed by Governor Crist. The brief then describes the role of public adjusters in the claims settlement process, as well as the manner in which they typically are compensated. The brief also includes a summary of the public adjuster licensing process and provisions applicable to public adjuster apprentices.
The issue brief summarizes Florida’s statute of limitation on contract claims, as well as fee caps and solicitation restrictions on public adjusters. The brief also provides an overview of Department of Financial Services enforcement actions against public adjusters.
The brief does not take any position regarding potential legislative reforms for 2011.