Florida Public Adjusters Bond
A Florida public adjuster is required to purchase a bond of insurance before a license can be issued. Furthermore, the bond must be maintained or the public adjuster can face the possibility of fine. The 626.865 is the statute on which bond compliance is required. Attached is a copy of the DFS-H2-72 Public Adjuster's Bond.
626.865 Public adjuster's qualifications, bond.—
(2)At the time of application for license as a public adjuster, the applicant shall file with the department a bond executed and issued by a surety insurer authorized to transact such business in this state, in the amount of $50,000, conditioned for the faithful performance of his or her duties as a public adjuster under the license for which the applicant has applied, and thereafter maintain the bond unimpaired throughout the existence of the license and for at least 1 year after termination of the license. The bond shall be in favor of the department and shall specifically authorize recovery by the department of the damages sustained in case the licensee is guilty of fraud or unfair practices in connection with his or her business as public adjuster. The aggregate liability of the surety for all such damages shall in no event exceed the amount of the bond. Such bond shall not be terminated unless at least 30 days' written notice is given to the licensee and filed with the department.