WV HB5521

Establishes comprehensive licensing requirements for public adjusters in West Virginia, including a written examination, fingerprint-based criminal background checks, and proof of financial responsibility through a $20,000 minimum surety bond or irrevocable letter of credit.

Caps public adjuster compensation at 10% of any insurance claim settlement and prohibits charging fees, retainers, or deposits prior to settlement.

Creates detailed contract requirements between public adjusters and insureds, mandating written agreements that include adjuster license information, description of services, compensation terms, and a West Virginia choice-of-law clause.

Establishes reciprocity provisions allowing nonresident public adjusters licensed in good standing in their home state to obtain a West Virginia license without additional examination, provided their home state offers the same treatment to West Virginia residents.

Defines "catastrophic disaster" and creates an "emergency adjuster" category for situations when the number of licensed adjusters is inadequate to meet public demand, as declared by the President, Governor, or Insurance Commissioner.