Ill. Admin. Code tit. 50, § 3118.80 - Contract Between Public Adjuster and Insured
a) Each public adjuster shall file with and
secure the approval of the Director of each contract before it is used in the
State of Illinois.
b) Each contract
form filing submitted for approval must include provisions required by Section
1575 of the Code and must be consistent with the provisions of Article XLV of
the Code. Contract form filings must include:
1) The names and license numbers of the
public adjusters making the filing;
2) Notification as to whether the filing is
new or supersedes a current filing. Identification of all changes in all
superseding filings, as well as identification of all superseded forms, is
required; and
3) The effective date
of use.
c) All contracts
must contain the following and be formatted in no less than 10-point font:
1)
Legible full name of the
person signing the contract, as specified in the Department
records;
2) Form number
and edition of the form must appear in the lower left-hand corner of the
contract form to be approved;
3)
Effective date of use;
4)
Permanent home state business address, email address,
and phone number;
5)
License number or space for indicating the license number if
more than one public adjuster will be using the contract;
6) The title "Public Adjuster
Contract" printed at the head of the contract form with the name of
the public adjuster or the public adjuster business entity and the location and
telephone number of the public adjuster's principal place of business. Unless
located in a rural area that does not use a street address, P.O. Box addresses
are not permitted unless the street address is also included;
7) A place to list the insured's full
name, street address, insurance company name, and policy number, if known or
upon notification;
8) A
description of the loss and its location;
9) A description of services to be
provided to the insured;
10) A place for the signatures of the
public adjuster and the insured;
11) A place for the date and time the
contract was signed by the public adjuster and date and time the contract was
signed by the insured;
12)
Attestation language stating that the public adjuster is fully bonded
pursuant to State law;
13)
Disclosure of full salary, fee, commission, compensation or other
considerations the public adjuster is to receive for services, including any
applicable cap under Section 1570 of the Code; [215 ILCS
5/1575(a) ]
14) Notice that the written contract shall
constitute the entire agreement between the public adjuster and the
insured;
15) Notice that,
at the option of the insured, any such contract shall be voidable for 5
business days after the contract is received by the insurer. The insured may
void the contract by notifying the public insurance adjuster in writing
by:
A)
registered or
certified mail, return receipt requested, to the address shown on the contract
with a postmark date within 5 days of execution of the
contract;
B)
personally serving the notice on the public insurance
adjuster; or
C)
sending an email to the email
address shown on the contract. [215 ILCS
5/1575(j) ]
16) Notice that, if not later than 5 business
days after the date of the loss is reported to the insurer, the insurer either
pays or commits in writing to pay the policy limit, the public adjuster shall
not receive a commission but only reasonable compensation for services
provided.
17) Attestation language
stating that the public adjuster who signed the contract is the public adjuster
who solicited the public adjuster business.
Notes
Amended at 30 Ill. Reg. 19367, effective November 29, 2006
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