Hawaii Public Adjuster Bond
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How much does a $10,000 public adjuster bond cost in Hawaii?
Hawaii public adjuster bonds are issued without underwriting and cost $100 for one-year of bond coverage. Simply click Buy Now to visit our secure bond checkout where you can purchase your bond online instantly. In just a few minutes, you can be on your way to becoming bonded as a public insurance adjuster in Hawaii.
Why do I need this bond?
Hawaii public adjusters must submit a $10,000 surety bond to the Licensing Branch of the Hawaii Insurance Division before receiving their license. The bond is issued in favor of the state and guarantees that the principal—the adjuster—will abide by all rules and regulations established by Hawaii’s revised statutes.
If any entity is harmed due to the adjuster’s failure to comply with state rules and regulations, a claim may be filed against the bond. At this point, the surety may pay out up to the full amount of the bond to settle the claim. It then becomes the adjuster’s responsibility to reimburse the surety for all money paid out.
What’s the fine print?
Hawaii public adjuster bonds are issued for one-year terms and must be renewed annually for as long as the individual wishes to keep their license active. However, the surety may cancel the bond for any reason by providing the Licensing Branch with 60 days’ advance notice.
How to become a public adjuster in Hawaii
Along with the submission of a surety bond, the Licensing Branch also requires public adjusters to meet the following criteria:
- Minimum 18 years of age
- Complete adjuster application
- Provide branch with information regarding applicant’s identity, personal history, experience, business records, full set of records
- Domiciled in Hawaii or state permitting residents of Hawaii to act as adjuster in another state
- Passes examination required under 431:9-206.
- Pay license fees required by 431:7-101.
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