AB 2588 Summary

• Renames the "Insurance Adjuster Act" to the "Independent Insurance Adjuster Act" and redefines "independent insurance adjuster" to include individuals, business entities, and independent contractors who investigate, negotiate, or settle property and casualty claims for insurers.

• Expands exemptions from licensing requirements to include individuals investigating fraudulent claims without adjusting losses, and persons performing only administrative or clerical duties without claim settlement involvement.

• Creates a new "apprentice independent insurance adjuster" license valid for up to 12 months, with an application fee up to $80, allowing supervised training under a licensed independent insurance adjuster without requiring the qualifying exam.

• Requires licensees to place their licenses on inactive status if they fail to meet continuing education requirements (24 hours biennial, including 3 hours in ethics) unless granted an extension by the commissioner.

• Revises nonresident licensing requirements to require applicants be currently licensed in good standing in their home state and maintain that license to keep California nonresident status; establishes annual reporting to the Legislature for three years on implementation costs, revenues, and projections related to the licensure program.