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MississippiHB 11742025 Regular SessionHouseWALLET

Public adjusters licensure; revise provisions related to.

Sponsored By: Jerry R. Turner (Republican)

Signed by Governor

Insurance

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 2 benefits, 0 costs, 1 mixed.

Fee limits protect public adjuster clients

Beginning July 1, 2025, public adjuster contracts must be written and signed, with an original copy for each party. Contracts must describe services, identify the parties and claim, estimate reimbursable costs, and confirm required financial security. Fees cannot exceed 10% of settlement proceeds, and adjusters cannot demand payment before a partial or full settlement. If an insurer made a written offer before signing, the fee cannot exceed 10% of the increase above that offer. Adjusters cannot receive settlement funds before signing or require settlement checks payable only to themselves. You have at least five business days to cancel in writing without cause or penalty. After timely cancellation, the adjuster must return anything you transferred within 15 business days.

Stronger safeguards for policyholders’ claim money

Beginning July 1, 2025, public adjusters must obtain and maintain a bond or irrevocable letter of credit of at least $50,000. This security supports recovery for covered legal claims; it is not a guaranteed $50,000 payment to each client. Ending the security requires at least 30 days’ written notice to the licensee. If it ends or becomes impaired, the license automatically ends and must be surrendered promptly. Adjusters must deposit client claim funds into separate, noninterest-bearing trust accounts by the close of the second business day after receipt. The accounts must be at Mississippi-licensed financial institutions, with itemized records and no mixing with the adjuster’s own money. Funds must be disbursed within 30 calendar days of an invoice, after the insured or claimant approves the completed work.

Public adjusters face new licensing standards

Beginning July 1, 2025, licensing rules cover people paid to handle policyholders’ claims under their own property insurance. Lawyers are excluded unless they advertise or present themselves as public adjusters. Individual applicants must be at least 21, meet residency and experience or training rules, and show trustworthy character. They must pass the required exam unless exempt, pay fees, and have no disqualifying acts. Adjuster businesses must file truthful applications, meet Mississippi home-state eligibility rules, name a licensed compliance lead, and pay the privilege tax. Out-of-state applicants need a current home-state license in good standing, an application, and required fees. Their home state must license Mississippi residents on the same basis. The commissioner can verify qualifications, request supporting records, and enforce licensing standards.

Sponsors & Cosponsors

Sponsor

  • Jerry R. Turner

    Republican • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 288 • No: 35

House vote • 3/31/2025

Conference Report Adopted

Yes: 108 • No: 3 • Other: 3

Senate vote • 3/29/2025

Conference Report Adopted

Yes: 31 • No: 14

Senate vote • 3/6/2025

Passed As Amended

Yes: 31 • No: 18 • Other: 1

House vote • 2/10/2025

Passed

Yes: 118 • No: 0

Actions Timeline

  1. Approved by Governor

    4/17/2025legislature

  2. Enrolled Bill Signed

    4/3/2025Senate

  3. Enrolled Bill Signed

    4/2/2025House

  4. Conference Report Adopted

    3/31/2025House

  5. Conference Report Adopted

    3/29/2025Senate

  6. Conference Report Filed

    3/28/2025Senate

  7. Conference Report Filed

    3/28/2025House

  8. Conferees Named Michel,McMahan,Blackmon

    3/17/2025Senate

  9. Conferees Named Turner,Arnold,Hines

    3/12/2025House

  10. Decline to Concur/Invite Conf

    3/12/2025House

  11. Returned For Concurrence

    3/7/2025Senate

  12. Passed As Amended

    3/6/2025Senate

  13. Amended

    3/6/2025Senate

  14. Title Suff Do Pass As Amended

    3/4/2025Senate

  15. Referred To Insurance

    2/17/2025Senate

  16. Transmitted To Senate

    2/11/2025House

  17. Passed

    2/10/2025House

  18. Committee Substitute Adopted

    2/10/2025House

  19. Title Suff Do Pass Comm Sub

    2/4/2025House

  20. Referred To Insurance

    1/20/2025House

Bill Text

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