{"data":{"id":"us-ky/krs-304.9-4333","jurisdiction":"us-ky","citation":"KRS 304.9-4333","heading":"Fees and compensation for public adjuster.","body":"(1) Any fee charged to an insured by a public adjuster shall:\n(a) Be based only on the amount of the insurance settlement proceeds actually\nreceived by the insured;\n(b) Be collected by the public adjuster after the insured has received the insurance\nsettlement proceeds from the insurer; and\n(c) Comply with subsections (2) and (3) of this section.\n(2) Except as provided in subsection (3) of this section or KRS 304.9-433(1):\n(a) A public adjuster may receive a fee for services provided under this subtitle\nconsisting of:\n1. An hourly rate;\n2. A flat rate;\n3. A percentage rate; or\n4. Another method of compensation; and\n(b) A public adjuster:\n1. Shall not charge:\na. An unreasonable fee; or\nb. A fee based on insurance settlement proceeds received by the\ninsured prior to:\ni. The execution of a contract between the insured and public\nadjuster; or\nii. The conclusion of the rescission period required under KRS\n304.9-433; and\n2. May charge a reasonab le fee that does not exceed ten percent (10%) of\nthe insurance settlement proceeds upon which a fee may be based under\nthis section.\n(3) In the event a public adjuster is entitled to compensation in accordance with KRS\n304.9-433(1)(b) and the insurer eithe r pays or commits in writing to pay the policy\nlimit of the insurance policy to the insured prior to the execution of, or conclusion\nof a rescission period for, a contract between the insured and the public adjuster, the\npublic adjuster shall:\n(a) Not receive a commission consisting of a percentage rate;\n(b) Inform the insured that the claim settlement amount may not be increased by\nthe insurer; and\n(c) Be entitled only to reasonable compensation from the insured for services\nprovided by the adjuster on beh alf of the insured, based on the time spent on\nthe claim and expenses incurred by the adjuster prior to when the claim was\npaid or the insured received a written commitment to pay from the insurer.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=57845","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:40Z","sha256":"8b0d4e5ac39dc8f77f04b0e43a9544ae4650b17bb0eb1ed2dfa150107e4dba2a","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.9-4332","next":"us-ky/krs-304.9-434"},"notice":"GroundRules: Original legal text. Not legal advice."}