72B.01 PURPOSE AND SCOPE. It is the purpose of sections 72B.01 to 72B.136 to provide high quality service to insureds and insurance claimants in the state of Minnesota by providing for well trained adjusters and persons engaged in soliciting business for adjusters, who are qualified to deal with the public in the interest of a […]
72B.02 DEFINITIONS. Subdivision 1. Scope. For the purposes of sections 72B.01 to 72B.136 the terms defined in this section have the meanings ascribed to them unless the context otherwise requires. Subd. 2. Person. “Person” means an individual or business entity. Subd. 3. Commissioner. “Commissioner” means the commissioner of commerce or any other person properly acting […]
72B.03 LICENSES. Subdivision 1. Requirement; exceptions. (a) A person shall not act or hold out as an independent adjuster or public adjuster unless the person is licensed as an independent adjuster or public adjuster in accordance with this chapter, or is exempt from licensure as an independent adjuster or public adjuster under this chapter. (b) […]
72B.041 RESIDENT ADJUSTER LICENSE PROCEDURE AND REQUIREMENTS; EXAMINATIONS; FEES. Subdivision 1. Application. (a) An individual applying for a resident adjuster license must make application to the commissioner on the appropriate National Association of Insurance Commissioners (NAIC) Uniform Individual Application in a format prescribed by the commissioner and declare under penalty of suspension, revocation, or refusal […]
72B.045 CONTINUING EDUCATION. Subdivision 1. Requirement. An individual who holds an independent or public adjuster license and who is not exempt under this section must satisfactorily complete a minimum of 24 hours of continuing education courses, of which three hours must be in ethics, reported to the commissioner on a biennial basis in conjunction with […]
72B.05 NONRESIDENTS. (a) Unless refused licensure pursuant to section 72B.08, a nonresident person shall receive a nonresident adjuster license if: (1) the person is currently licensed in good standing as an adjuster in the person’s resident or home state; (2) the person has submitted the proper request for licensure and has paid the fees required […]
72B.055 MULTIPLE PERIL CROP INSURANCE ADJUSTMENTS. A licensed crop hail adjuster who has satisfactorily completed the loss adjustment training curriculum and competency testing required by the Federal Crop Insurance Corporation (FCIC) Standard Reinsurance Agreement may act as an adjuster in this state in regard to Multiple Peril Crop Insurance policies regulated by the FCIC. History: […]
72B.06 CATASTROPHE OR EMERGENCY SITUATIONS. (a) For purposes of this chapter, a catastrophe exists when, due to a specific, infrequent, and sudden natural or man-made disaster or phenomenon, there have arisen losses to property in Minnesota that are covered by insurance, and the losses are so numerous and severe that resolution of claims related to […]
72B.08 DENIAL, SUSPENSION AND REVOCATION OF LICENSES. Subdivision 1. Causes. The commissioner may place on probation, suspend, revoke, or refuse to issue or renew an adjuster’s license or temporary permit or may levy a civil penalty according to section 45.027, subdivision 6, or any combination of the above actions for any of the following causes: […]
72B.091 DAMAGE APPRAISALS; ADJUSTMENTS; DUTIES OF APPRAISERS, ADJUSTERS, AND INSURERS. Subdivision 1. Appraiser’s identification. Each appraiser while engaged in appraisal duties shall carry appraiser identification and shall display it upon request to an owner whose vehicle is being inspected, to the repair shop representative involved, or to any commissioner of commerce’s representative. Subd. 2. Appraisal; […]
72B.092 MOTOR VEHICLE INSURANCE ADJUSTMENTS; PROHIBITIONS. Subdivision 1. Prohibitions on insurer. No adjuster or insurer, director, officer, broker, agent, attorney-in-fact, employee, or other representative of an insurer shall in collision cases: (1) limit the freedom of an insured or claimant to choose the shop; (2) require that an insured or claimant present the claim or […]
72B.10 STAFF ADJUSTERS. A staff adjuster who adjusts losses or claims in this state shall not be subject to the application, licensing, or examination requirements or other qualifications set forth in sections 72B.01 to 72B.136. Such a staff adjuster shall not, however, engage in any of the practices forbidden to a licensee under section 72B.08, […]
72B.105 RECORDS OF INDEPENDENT ADJUSTERS TO BE RETAINED. An independent adjuster must maintain a copy of each contract between the independent adjuster and the insurer or self-insurer and comply with the record retention policy as agreed to in that contract. History: 2009 c 63 s 52,78
72B.106 STANDARDS OF CONDUCT OF INDEPENDENT ADJUSTERS. (a) An independent adjuster must be honest and fair in all communications with the insured, the insurer, and the public. (b) An independent adjuster must give policyholders and claimants prompt, knowledgeable service and courteous, fair, and objective treatment at all times. (c) An independent adjuster must not give […]
72B.107 REPORTING OF ACTIONS OF ADJUSTER. (a) An adjuster must report to the commissioner any administrative action taken against the adjuster in another jurisdiction or by another governmental agency in this state within 30 days of the final disposition of the matter. The report must include a copy of the order or consent order and […]
72B.11 PRODUCTION OF RECORDS. The commissioner may, by order, require any licensee or permit holder to produce any records relating to activities under that person’s license or permit, and may examine persons under oath to determine questions arising under a person’s status as a licensee or permit holder. History: 1971 c 704 s 11; 1986 […]
72B.12 RULES. The commissioner may promulgate rules to carry out the purpose of sections 72B.01 to 72B.136, pursuant to chapter 14. History: 1971 c 704 s 12; 1982 c 424 s 130; 1985 c 248 s 70; 2022 c 55 art 1 s 186
72B.13 ACTING WITHIN CONTRACT AND LAW. Every adjuster shall investigate or adjust every claim, damage or loss made or occurring under an insurance contract in accordance with the terms and conditions of the contract and of the applicable laws of this state. History: 1971 c 704 s 13
72B.135 PUBLIC ADJUSTERS. Subdivision 1. Insured’s right to cancel. An insured who has entered into a contract with a public adjuster involving the business for which the person was licensed, has the right to cancel the contract within 72 hours after the contract has been signed. Cancellation is evidenced by the insured giving written notice […]
72B.136 ESCROW OR TRUST ACCOUNTS. A public adjuster who receives, accepts, or holds any funds on behalf of an insured, towards the settlement of a claim for loss or damage, shall deposit the funds in a non-interest-bearing escrow or trust account in a financial institution that is insured by an agency of the federal government […]
