IC 27-1-27-15: Prohibited contract provisions

Sec. 15. A contract between a public adjuster and an insured may not contain any of the following:

(1) If the public adjuster is to receive as compensation a percentage of the total amount paid by the insurer to resolve the insured's claim, a contract term that would:

(A) allow the public adjuster to collect a fee when the insurer has not yet paid any of the money that is due from the insurer; or

(B) allow the public adjuster to collect the public adjuster's entire compensation from the first payment by the insurer if the insurer will pay the total amount to resolve the insured's claim in two (2) or more payments.

(2) A contract term that would require the insured to authorize an insurer to issue a check only in the name of the public adjuster.

(3) A contract term that would preclude the public adjuster or the insured from pursuing civil remedies.

(4) A contract term that would preclude the public adjuster's liability to the insured for the public adjuster's negligence.

(5) A contract term that would allow the public adjuster to perform the role of roofing contractor, appraiser, or any role other than that of rendering advice or assistance to the insured in the adjustment of a claim.

(6) A contract term that would give the public adjuster power of attorney to act in the place of and instead of the insured.