HARRISBURG – The PA Senate Banking and Insurance Committee unanimously approved legislation which implements important consumer protections in the property and casualty insurance marketplace. Senate Bill 1074 would update PA’s Public Adjuster Licensing Law that was last amended in 2012, bringing it into conformity with current national standards and industry best practices. Unlike insurance adjusters who work for a policy holder’s insurance company, licensed public adjusters are hired by and represent the insured property owner, assisting them with filing claims and negotiating with their insurance company. Unlicensed individuals unlawfully acting as public adjusters will often solicit property owners immediately after traumatic fire or weather-related disaster events. The bill includes important consumer protection safeguards like required disclosures, contract cancellation provisions, bonding requirements, conflict of interest prohibitions, commission limits, and penalties for acting in an unlicensed capacity. The measure now goes to the full state Senate.
