Illinois, Indiana join other states in enacting public adjuster reforms
Illinois, Indiana join other states in enacting public adjuster reforms | Insurance Business America
Insurance News
Illinois, Indiana join other states in enacting public adjuster reforms
Reforms aimed at protecting consumers from bad actors
Insurance News
By
Mika Pangilinan
Illinois and Indiana have joined the growing list of states that are enacting public adjuster reform legislation.
The Illinois public adjuster bill (SB 1495) passed both houses of the legislature last week and will now move on to the governor. Meanwhile, Indiana Governor Eric Holcomb has recently signed HB 1329, which increases data transparency and allows an insured to void or rescind a contract with a public adjuster.
These bills follow similar moves in other states, building on the work that the American Property Casualty Insurance Association (APCIA) has done with industry partners and lawmakers.
“This is a continuation of APCIA work with lawmakers to protect consumers from being re-victimized by bad actors who sometimes target storm victims in the aftermath of disasters,” said Ronald Jackson, vice president, state government relations southeast region for the APCIA.
Earlier this year, Kentucky enacted HB 232, which revised provisions governing the licensing of public adjusters and regulated the fees they can charge.
Similarly, Georgia established a regulatory framework for public adjusters through HB 254. This year, the state also passed HB 222, which revised requirements for public adjuster contracts to ensure no conflicts of interest.
In addition to its public adjuster reform legislation, Indiana has also introduced legislation related to delivery network companies (DNCs) and third-party litigation funding.
HB 1125 establishes insurance requirements for DNCs to help close potential insurance gaps for delivery drivers. Meanwhile, HB 1124 requires that third-party litigation funding agreements be disclosed during civil proceedings, encouraging transparency and preventing potential conflicts of interest.
Brooke Kelley, assistant vice president of state government relations for APCIA, has praised Indiana’s actions, stating that the state has struck the right balance between consumer protections and informed insurance decisions.
“The legislature and Gov. Holcomb’s actions keep Indiana moving in a positive direction by striking the right balance of consumer protections with making informed insurance decisions while protecting the proprietary information of an insurer,” Kelley said.
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