Ala. Admin. Code r. 482-1-151-.07

Current through Register Vol. 43, No. 1, October 31, 2024

Section 482-1-151-.07 - Independent Adjuster License

(1) Business Entity Independent Adjuster. A business entity may be issued an independent adjuster license in accordance with the following:

(a) To be licensed as an independent adjuster, a business entity must be a corporation, a limited liability company, a partnership, a limited partnership, a limited liability partnership, or another legally recognized form of entity distinct from an individual or the individuals or other entities that may own or hold interests in, or be members of, the entity as determined by the laws of the entity's state of domicile. A sole proprietorship can only be licensed as an individual independent adjuster. One or more individuals doing business under a trade name cannot obtain a business entity independent adjuster license absent formal organization as an entity.

(b) A business entity shall complete the Department's on-line licensing process to become licensed as an independent adjuster for a particular line or lines of insurance.

(c) Issuance of an Alabama business entity independent adjuster license to a foreign-domiciled business entity does not in itself satisfy any applicable Alabama constitutional and statutory requirements that may require the entity to qualify through or register with the Alabama Secretary of State in order to lawfully do business in Alabama.

(d) The business entity license applicant must identify at least one licensed individual independent adjuster designated as responsible for the business entity's compliance with all applicable laws, rules and regulations for each line of authority. The licensed individual independent adjuster(s) so designated must have such a degree of affiliation with the entity in terms of an ownership interest in the entity, a role as an officer or director, by contract or employment relationship, or otherwise as reasonably assures that the licensed individual independent adjuster can cause or influence the entity's compliance with all applicable laws, rules, and regulations.

(2) Individual Independent Adjuster. An individual, whether an Alabama resident or a nonresident, shall complete the Department's on-line licensing process to become licensed as an independent adjuster for a particular line or lines of authority.

(3) An individual or business entity may apply for an independent adjuster license for any or all of the lines of authority for which qualified at one time; however, subsequent applications for additional lines of authority are treated the same as initial applications. All license and application fees apply for each application submitted or transmitted.

(4) Instructions for the on-line licensing process, as it may change from time to time, will be provided on the Department's Web site.

(5) The initial fees for an independent adjuster license are provided in Code of Ala. 1975, § 27-4-2(a)(11) as set forth below:

(a) Application fee	$30.00
(b) The individual license fee	$80.00
(c) The business entity license fee	$200.00

(6) Subsequent changes in the name or address of an independent adjuster must be reported within 30 days thereof. While there is no filing fee for reporting such changes, there is a penalty of $50 for the failure to report the changes within 30 days. Instructions for the name and address change process, as it may change from time to time, will be provided on the Department's Web site.

(7)

(a) Individual and business entity independent adjusters are subject to the license renewal process set forth in Rule 482-1-151-.10.

(b) If an independent adjuster license is not renewed in accordance with Rule 482-1-151-.10 the license expires.

(c) Within twelve months of expiration, the former licensee can reapply for an independent adjuster license without having to retake the examination by following the instructions for the on-line license reinstatement process, as it may change from time to time, as directed on the Department's Web site.

(d) When former licensees have been without a license for over twelve months, they must comply with any applicable examination requirements before reapplying for an independent adjuster license.

(8) When an independent adjuster's license is suspended or revoked, the former licensee should contact the Legal Division of the Department to receive instructions should the former licensee desire to again become licensed.

Ala. Admin. Code r. 482-1-151-.07

New Rule: October 18, 2012; effective October 28, 2012. Filed with LRS October 18, 2012. Rule is not subject to the Alabama Administrative Procedure Act.

Amended by Alabama Administrative Monthly Volume XXXIII, Issue No. 11, August 31, 2015, eff. 1/1/2016.

Amended by Alabama Administrative Monthly Volume XXXVI, Issue No. 02, November 30, 2017, eff. 11/25/2017.

Amended by Alabama Administrative Monthly Volume XLI, Issue No. 10, July 31, 2023, eff. 1/1/2024.

Author: Commissioner of Insurance

Statutory Authority:Code of Ala. 1975, §§ 27-2-17, 27-7-43, 27-9A-7, 27-9A-18.