SB0660 Summary: Public Adjusters Regulation

• Establishes comprehensive licensing and regulation of public adjusters in Illinois through new Article XLV of the Illinois Insurance Code, requiring licenses to assist insureds with first-party insurance claims.

• Mandates public adjusters obtain $20,000 surety bond or letter of credit, pass written examination, complete 24 hours of continuing education biennially (including 3 hours ethics), and meet financial responsibility requirements.

• Requires written contracts with specific terms including adjuster name, license number, services description, compensation amount/percentage, and disclosure of any financial interests in related repair firms or services.

• Prohibits public adjusters from misrepresenting themselves as insurance company representatives, soliciting during active loss or between 7pm-8am, requiring sole insurance company payment authorization, or providing power of attorney authority.

• Establishes grounds for license denial, suspension, or revocation including fraud, dishonesty, misrepresentation, failure to maintain records, and violations of conduct standards, with civil penalties up to $10,000 per violation (maximum $100,000).