Indiana § 27-1-27-1 - Definitions

§ 27-1-27-1. Definitions

Sec. 1. (a) The definitions set forth in this section apply throughout this chapter.

(b) "Contract" refers to a contract between a public adjuster and an insured under which:

(1) the public adjuster agrees to provide services for the insured in the adjustment of an insurance claim; and

(2) the insured agrees to compensate the public adjuster for those services.

(c) "Firm" includes any corporation, partnership, association, joint stock company, or individual.

(d) "Independent adjuster" has the meaning set forth in IC 27-1-28-6.

(e) "Insured" means a person covered by an insurance policy.

(f) "Person" means an individual, a corporation, a limited liability company, a partnership, or any other legal entity.

(g) "Public adjuster" includes the following:

(1) A person that, for compensation or reward, renders advice or assistance to an insured in the adjustment of a claim or claims for loss or damages under any policy of insurance covering real or personal property.

(2) A person that advertises, solicits business, or holds itself out to the public as an adjuster of claims described in subdivision (1).

(h) The term "public adjuster" does not include the following:

(1) An attorney at law admitted to practice in Indiana who adjusts insurance losses in the course of the practice of the attorney's profession.

(2) An officer, regular salaried employee, or other representative of:

(A) an insurer; or

(B) an attorney in fact of any reciprocal insurer or Lloyd's underwriter licensed to do business in Indiana;

who adjusts losses arising under an employer's or principal's own policies.

(3) An adjustment bureau or association owned and maintained by insurers to adjust or investigate losses of the insurers, or any regular salaried employee who devotes substantially all the employee's time to the business of an adjustment bureau or association described in this subdivision.

(4) Any of the following:

(A) A licensed insurance producer.

(B) An authorized insurer.

(C) An officer or employee of an authorized insurer who adjusts losses for the insurer.

(D) An insurance producer or representative of a farm mutual insurance company operating under IC 27-5.1.

(5) Any independent adjuster representing an insurer.

As added by P.L.257-1983, SEC.1. Amended by P.L.129-2003, SEC.6; P.L.178-2003, SEC.28; P.L.226-2023, SEC.3.