Title 806 | Chapter 009 | Regulation 030
806 KAR 9:030.Adjuster licensing restrictions.
Section 1.
(1)
An independent, staff, or public adjuster licensed pursuant to KRS 304.9-430 shall not represent the interest of both insurer and the insured or claimant.(2)
When applying for an adjuster license, an applicant shall elect to act solely on behalf of either:(a)
Insurers; or(b)
Persons claiming benefits under insurance or annuity contracts.(3)
A licensed adjuster shall act in a fiduciary capacity on behalf of his or her principal.Section 2.
An individual may hold only one (1) apprentice adjuster license until the individual is issued an adjuster license in accordance with KRS 304.9-430. Once an individual has held an adjuster license in accordance with KRS 304.9-430, the individual may again be eligible to hold one (1) apprentice adjuster license.Section 3.
Temporary Adjuster Registration for Catastrophe. Insurers seeking to temporarily register emergency independent or staff adjusters if there is a catastrophe under KRS 304.9-430(14) shall submit to the commissioner Form 8307, Request for Unlicensed Adjuster Representing an Insurer to Adjust Losses Resulting from a Catastrophe.Section 4.
Incorporation by Reference.(1)
"Request for Unlicensed Adjuster Representing an Insurer to Adjust Losses Resulting from a Catastrophe, Form #8307", (05/2019), is incorporated by reference.(2)
This material may be inspected, copied, or obtained, subject to applicable copyright law at the Kentucky Department of Insurance, Mayo-Underwood Building, 500 Mero Street, Frankfort, Kentucky, Monday through Friday, 8:00 a.m. to 4:30 p.m.HISTORY: (I-9.03; 1 Ky.R. 860; eff. 5-14-75; Am. 9 Ky.R. 610; eff. 12-1-82; 1318; eff. 7-6-83; 29 Ky.R. 1358; 1794; eff. 1-16-2003; TAm eff. 8-9-2007; 37 Ky.R. 495; 1197; eff. 12-3-2010; 46 Ky.R. 1869; eff. 1-3-2020; 47 Ky.R. 810, 1388; eff. 4-6-2021.)
806 KAR 9:030.Adjuster licensing restrictions.
Section 1.
(1)
An independent, staff, or public adjuster licensed pursuant to KRS 304.9-430 shall not represent the interest of both insurer and the insured or claimant.(2)
When applying for an adjuster license, an applicant shall elect to act solely on behalf of either:(a)
Insurers; or(b)
Persons claiming benefits under insurance or annuity contracts.(3)
A licensed adjuster shall act in a fiduciary capacity on behalf of his or her principal.Section 2.
An individual may hold only one (1) apprentice adjuster license until the individual is issued an adjuster license in accordance with KRS 304.9-430. Once an individual has held an adjuster license in accordance with KRS 304.9-430, the individual may again be eligible to hold one (1) apprentice adjuster license.Section 3.
Temporary Adjuster Registration for Catastrophe. Insurers seeking to temporarily register emergency independent or staff adjusters if there is a catastrophe under KRS 304.9-430(14) shall submit to the commissioner Form 8307, Request for Unlicensed Adjuster Representing an Insurer to Adjust Losses Resulting from a Catastrophe.Section 4.
Incorporation by Reference.(1)
"Request for Unlicensed Adjuster Representing an Insurer to Adjust Losses Resulting from a Catastrophe, Form #8307", (05/2019), is incorporated by reference.(2)
This material may be inspected, copied, or obtained, subject to applicable copyright law at the Kentucky Department of Insurance, Mayo-Underwood Building, 500 Mero Street, Frankfort, Kentucky, Monday through Friday, 8:00 a.m. to 4:30 p.m.HISTORY: (I-9.03; 1 Ky.R. 860; eff. 5-14-75; Am. 9 Ky.R. 610; eff. 12-1-82; 1318; eff. 7-6-83; 29 Ky.R. 1358; 1794; eff. 1-16-2003; TAm eff. 8-9-2007; 37 Ky.R. 495; 1197; eff. 12-3-2010; 46 Ky.R. 1869; eff. 1-3-2020; 47 Ky.R. 810, 1388; eff. 4-6-2021.)