Ohio insurance adjusters are regulated by the Ohio Department of Insurance and are required by statute to obtain a surety bond for $1000.00.
The surety bond is available from AmeriPro Surety Bonds as a new and renewal bond.
The $1000 Ohio insurance adjuster bond is a surety bond required as a financial guarantee that a license insurance adjuster will comply with all laws and rules involved in being an insurance adjuster.
The bond protects others, that is both the state of Ohio and its citizens, against acts of criminal acts, and acts of malfeasance that an insurance adjuster might conceivably commit in the course of your professional duties.
As such, the bond’s requirement is solely for the benefit of others; it does not serve as a protection for you as an insurance adjuster.
It is required, however, as a condition of licensing with the state.
Because it is not an insurance policy, but rather, a surety, should a claim be paid on your bond, you would be legally required to reimburse the surety company in full for all costs and fees in the settlement of that claim.
The bond is easy to qualify for -- it is an Instant Issue bond --- and is just $100.
There is no credit check involved in its purchase.
You merely complete an application – -which is most quickly done over the phone with an agent --- pay the premium of $100, and the bond is issued and mailed to you by the next business day.
For those who request it, the bond can be sent overnight for an additional fee.
Ohio Insurance Adjuster Bond: Duration
Your insurance adjuster bond renews annually and must be kept active on file at all times with the Ohio Department of Insurance.
In addition to meeting other requirements, the bond insurance adjuster bond is required to maintain your license in good standing with the Department.
AmeriPro Surety Bonds is a surety bonds-only agency which provides license and permit, contractor, court and fiduciary bonds throughout Ohio.
We also provide surety bonds nationwide. We look forward to working with you to get your insurance adjuster bond and thank you for your consideration of our agency.
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