Sec. 20. (a) An insured may rescind a contract between the insured and a public adjuster at any time not more than three (3) business days after the day on which the insured submits to the insurer the claim to which the contract relates.

     (b) An insured may rescind a contract with a public adjuster by notifying the public adjuster in writing of the insured’s decision to rescind the contract. The written notification must be transmitted to the adjuster by:

Terms Used In Indiana Code 27-1-27-20

  • 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
  • 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
(1) registered or certified mail, return receipt requested, sent to the address of the public adjuster shown on the contract;

(2) personally serving the notice on the public adjuster; or

(3) sending an electronic mail to the public adjuster at the electronic mail address shown on the contract.

     (c) If the insured exercises the right to rescind a contract under this section, the public adjuster shall return to the insured anything of value that the insured gave to the public adjuster under the contract before the recission of the contract. The public adjuster shall return things of value to the insured under this section not more than fifteen (15) business days after the day on which the public adjuster receives notice under subsection (b) of the insured’s decision to rescind the contract.

As added by P.L.226-2023, SEC.15.

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