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Interested in becoming a Mississippi public adjuster? Here’s how you can get the surety bond you’ll need.
Mississippi public adjuster licensing is�handled by the state Insurance Department. Applicants need to take exams and complete pre-licensing education before they can be licensed; there are also requirements for continuing education—12 to 24 hours depending on the term of the license. The Department encourages applying online through the National Insurance Producer Registry (NIPR).
Here are a few more items the Insurance Department requires from public adjuster applicants:
Mississippi public adjuster�licenses issued after July 1, 2016 expire on the last day of the licensee’s birth month in the second year of renewal, and have a minimum 13-month and maximum 24-month term. So, if you were born in February and licensed in September 2016, your license would have expired on February 28, 2018. Beginning in November 2017, the Insurance Department will be emailing rather than mailing renewal notices, so ensure a correct business email is on file.
Becoming a Mississippi public adjuster means getting a�$50,000 surety bond. The surety bond protects the public adjuster’s clientele from financial damages as a result of unethical or illegal business practices. Your goal is to never use your surety bond, meaning you’ll never have to reimburse the surety for paid-out claims.
Surety bond premiums are a percentage of the bond’s total coverage amount. So, this bond could cost you anywhere from $500 to $5,000, depending on a review of your credit history. Don’t worry if your credit isn’t perfect�Single Source Insurance can get you an affordable surety bond rate.
