Iowa public adjuster licensees and candidates are regulated by the Iowa Insurance Division. A condition of licensing is that you obtain a $20,000 surety bond.
Meeting the surety bond requirement will be the easiest and quickest part of your licensing process.
The $20,000 Iowa public adjuster surety bond is mandated under “Evidence of Financial Responsibility”. While the amount required is $20,000 surety, note that the statute does state a “...minimum amount of $20,000”. For all practical purposes, however, you will be required to obtain just the $20,000 surety bond amount.
When you call our agency, after completing a surety bond application with us over the phone, and receiving the payment of the premium of $200, this bond is issued to you immediately.
There is no credit check nor review by an underwriter; therefore, you are automatically approved for this bond.
Once issued, a copy of the bond can be sent to your email for no additional charge. The original surety bond, which you will sign as Principal, will be sent to you by the following business day. It is the original surety bond that you should ideally file with the Insurance Division.
The Iowa public adjuster bond is issued with a continuous term, such that unless either you as Principal or the surety cancels the bond for some reason, the bond is continuous. Therefore, this surety bond has no expiration date.
The public adjuster bond is a financial guarantee of your compliance with Chapter 522C of the Iowa Code and Chapter 55 of Agency 191 of the Iowa Administrative Code. All Iowa public adjusters should have familiarity with these statutes.
AmeriPro Surety Bonds is a surety bonds-only agency which provides license and permit bonds throughout Iowa.
Our agency also provides surety bonds nationwide.
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