South Carolina Code 38-48-70. Public adjuster as agent of the insured; standards of conduct
(a) be honest and fair in all communications with the insured and with the insurer or its representatives;
Terms Used In South Carolina Code 38-48-70
- Adjuster: means an individual who determines the extent of insured losses and assists in settling or attempts to settle claims. See South Carolina Code 38-1-20
- Commission: means the part of the premium paid to the producer as compensation for his services. See South Carolina Code 38-1-20
- Contract: A legal written agreement that becomes binding when signed.
- insurance: includes annuities. See South Carolina Code 38-1-20
- Insurer: includes a corporation, fraternal organization, burial association, other association, partnership, society, order, individual, or aggregation of individuals engaging or proposing or attempting to engage as principals in any kind of insurance or surety business, including the exchanging of reciprocal or interinsurance contracts between individuals, partnerships, and corporations. See South Carolina Code 38-1-20
- Person: means a corporation, agency, partnership, association, voluntary organization, individual, or another entity, organization, or aggregation of individuals. See South Carolina Code 38-1-20
- Public insurance adjuster: means any individual who, for salary, fee, commission, or other compensation, engages in public adjusting and who is licensed under § 38-48-20. See South Carolina Code 38-48-10
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Solicit: means attempting to sell insurance or asking or urging a person to apply for a particular kind of insurance from a particular company. See South Carolina Code 38-1-20
(b) have no financial interests in any aspect of the insured’s claim, other than the salary, fee, commission, or other compensations that may be established in the written contract between the insured and the public insurance adjuster;
(c) not refer or direct any insured needing repairs or other services in connection with a loss to any person with whom the public insurance adjuster has a financial interest; nor to any person who will or is reasonably anticipated to provide the public adjuster any direct or indirect compensation for the referral of any resulting business;
(d) not prevent or attempt to dissuade an insured from communicating with an insurer, the insurer’s adjuster, an independent adjuster representing the insurer, an attorney, or any other person regarding the settlement of the insured’s claim;
(e) not engage in any conduct which constitutes the unauthorized practice of law;
(f) not acquire any interest in salvage of property subject to his contract, except with the express written permission of the insured, after settlement with the insurer;
(g) not solicit or enter into any agreement for the repair or replacement of damaged property on which the public adjuster has been engaged to adjust or settle claims; and
(h) not offer or provide advice as to whether the insured’s claim is covered by the insured’s contract with the insurer.