IL HB3771

Prohibits public adjusters from having any direct or indirect financial interest in any aspect of an insurance claim beyond their contracted fee with the insured, eliminating the previous exception that allowed such interests with written disclosure

Bars public adjusters from acquiring any interest in salvage property subject to their contract with the insured, removing the prior provision allowing this with written permission after claim settlement

Prohibits public adjusters from referring or directing insureds to any person or firm for repairs or services in connection with a loss, eliminating previous allowances for such referrals when financial interests were disclosed

Removes the requirement for public adjusters to disclose compensation or interests from construction firms, salvage firms, building appraisal firms, board-up companies, or other firms involved in loss-related work, replacing it with an outright ban on such arrangements

Amends Sections 1575 and 1590 of the Illinois Insurance Code's Public Adjusters Article