Indiana Code 27-1-27-13. Written contract between public adjuster and insured; copy to insurer
(1) a written contract between the public adjuster and the insured has been executed; and
Terms Used In Indiana Code 27-1-27-13
- Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
- Contract: A legal written agreement that becomes binding when signed.
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
- Insurance: means a contract of insurance or an agreement by which one (1) party, for a consideration, promises to pay money or its equivalent or to do an act valuable to the insured upon the destruction, loss or injury of something in which the other party has a pecuniary interest, or in consideration of a price paid, adequate to the risk, becomes security to the other against loss by certain specified risks; to grant indemnity or security against loss for a consideration. See Indiana Code 27-1-2-3
- insurer: means a company, firm, partnership, association, order, society or system making any kind or kinds of insurance and shall include associations operating as Lloyds, reciprocal or inter-insurers, or individual underwriters. See Indiana Code 27-1-2-3
(A) the insurer with which the insured has filed or intends to file a claim; or
(B) a representative of the insurer described in clause (A) who is authorized to receive a notice of loss or damage on the insurer’s behalf.
(b) A contract between a public adjuster and an insured:
(1) must be in writing; and
(2) must be prepared on a form filed with and approved by the insurance commissioner; and
(3) must be executed in duplicate.
(c) One (1) original form of a contract executed under subsection (b)(3) must be provided to the insured and one (1) original form of the contract may be retained by the public adjuster.
(d) A public adjuster may use electronic mail to provide the exact copy of a contract to an insurer under subsection (a)(2).
(e) The original contract retained by the public adjuster under subsection (c) must be available at all times, without prior notice, for inspection by the insurance commissioner.
As added by P.L.226-2023, SEC.8.