Minnesota public adjusters must become licensed before doing business in the state, either as a resident or nonresident. Find out what to do if you want to get licensed and bonded.
What is a public adjuster?
Public insurance adjusters work with clients when they file a claim with their insurance company, like after a natural disaster or car accident. The client hires the public adjuster to negotiate with the insurance company on the client’s behalf, and the adjuster ensures that the client is compensated fairly in accordance with their insurance coverage. The public adjuster is paid an agreed-upon percentage of the settlement that is reached with the insurance company.
Licensing for Minnesota public adjusters
Minnesota public adjusters that are residents of the state apply for their licenses online through the�Commerce Department. There is a $50 application fee plus a $10 technology surcharge when submitting the application. Before attempting to become licensed, would-be public adjusters must pass an exam, which they can schedule online or by calling 1 (800) 733-9267. Minnesota public adjuster applicants must submit their fingerprints for background checks along with a Background Check Consent Form.
Nonresidents applying for a Minnesota public adjuster’s license must complete the same online application and pay the same fees. There is no exam requirement for nonresident public adjuster applicants.
Getting a surety bond
Both resident and nonresident Minnesota public adjuster applicants need to purchase a $10,000 surety bond when submitting their application. The original surety bond must be mailed to the Commerce Department at the following address:
Minnesota Department of Commerce�Licensing 85 7th Place East #500 St. Paul, MN 55429
Purchasing and signing a surety bond is the public adjuster’s guarantee that he or she will adhere to Minnesota Statutes Chapter 72B. Public adjusters in Minnesota can face license suspension or revocation, denial of license application, or fines of up to $500 for failing to adhere to their profession’s rules and regulations.