Following the 2004-2005 Florida Hurricane season, two crucial events occurred. First, the number of Florida public adjusters, both non-resident and resident grew substantially. 2nd, established public adjuster companies became concerned that their market share was diluted by the increased competition.
Following a lobbying effort by FAPIA (Florida Association of Public Insurance Adjusters), modifications in the licensing laws for public adjusters were made. In addition, new laws concerning consumer contact, fees and contracts were likewise passed. The designated impact of the laws were to protect the public and safeguard the market share of recognized public adjuster companies.
A few of these changes became efficient October 1, 2008. Extra modifications relating to an apprenticeship program will work January 1, 2009.
Public adjusters are forbidden from calling a claimant or insured until 2 days after the event of an event that may be the topic of a claim under a policy; public adjusters might not obtain a claimant or insured other than on Monday through Saturday and just between the hours of 8 a.m. and 8 p.m.
A public adjuster might not charge a cost unless a composed agreement was carried out prior to the payment of a claim;
Insurance public adjusters are forbidden from charging more than 20 percent of the insurance declares payment on non-hurricane claims and 10 percent of the insurance claims payment on hurricane claims for claims made during the first year after the statement of the emergency situation. These charge caps apply only to house insurance plan and condominium association policies as specified in s. 718.111( 11 );
There is no cost cap on supplemental or re-opened hurricane claims; however, the cost can not be based on any payments made by the insurance provider to the guaranteed prior to the time of the general public adjuster contract.
Complainants or insureds will have 5 organization days after the date on which the agreement is executed to cancel a public adjuster’s agreement throughout a state of emergency stated by the Governor; insureds or complainants have 3 organization days to cancel an agreement regarding claims involving non-emergencies; public adjuster agreements must be in writing and should display an anti-fraud statement.
The number of Florida public adjusters, both resident and non-resident grew considerably. Following a lobbying effort by FAPIA (Florida Association of Public Insurance Adjusters), changes in the licensing laws for public adjusters were made. The intended impact of the laws were to protect the public and protect the market share of recognized public adjuster companies.