Iowa Admin. Code r. 191-55.18 - Public adjuster fees
(1) A
public adjuster may charge the insured a reasonable fee for public adjuster
services.
(2) A person shall not
accept a commission, service fee or other valuable consideration for
investigating or settling claims in this state if that person is required to be
licensed under this chapter and is not so licensed.
(3) In the event of a catastrophic disaster ,
there shall be limits on catastrophic fees. No public adjuster shall charge,
agree to or accept as compensation or reimbursement any payment, commission,
fee, or other thing of value equal to or more than 10 percent of any insurance
settlement or proceeds. No public adjuster shall require, demand or accept any
fee, retainer, compensation, deposit, or other thing of value, prior to
settlement of a claim, unless the loss is being handled by the public adjuster
on a time-plus-expense basis.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.