Effective July 15, 2010, independent adjusters, staff adjusters, and apprentice adjusters will no longer be required to file proof of financial responsibility with the Department of Insurance (DOI). Independent, staff and apprentice adjusters must continue to maintain a level of financial responsibility to protect the consumer. Additionally, resident public adjusters will be required to increase their minimum limit of $1,000 surety bond or cash bond to a minimum limit of $20,000 surety bond or cash bond. Resident public adjusters must continue to file proof of coverage with DOI.
Effective July 15, 2010, crop agents will be required to hold a Kentucky adjuster license to adjust crop claims.
Twenty-four hours of continuing education will be required for all Kentucky resident independent and public adjusters who have held a license for at least one year. The continuing education compliance period is every two years, and is based on the licensee’s birth year whether born in an even-numbered year or odd-numbered year. The first compliance due date under this new requirement will be July 31, 2012.
To ensure compliance with the continuing education requirement, please see details below:
- Who is subject to this change? All licensed Kentucky resident independent and public adjusters. Licensees may use their eServices account to verify their residency. https://insurance.ky.gov/Eservices/ A resident licensee may have a place of residence or a principal place of business in Kentucky. However, some licensees have chosen Kentucky as an alternative home state, based on the fact that their resident state does not issue an adjuster license. Those individuals are considered Kentucky residents and are required to comply with continuing education.
- Will I be notified by DOI? Licensees will be mailed an initial continuing education / license renewal notification at least 45 days prior to their compliance due date. A second email reminder alert is sent on the first day of the licensee’s birth month, if continuing education and license renewal are not yet complete. It is critical that you keep current addresses, phone numbers and an email address on file with DOI to receive important notifications and future alerts. This information may be updated through your eServices account.
- How many continuing education hours are required? A total of 24 hours is required per compliance period, and three hours must be in a course concentration of ethics.
- When should I begin taking Kentucky-approved continuing education courses? Resident independent and public adjusters may begin taking continuing education courses on or after July 15, 2010, to receive credit that will be filed with the Department of Insurance.
- How do I find a class to take? Licensees will only receive continuing education credit from Kentucky-approved continuing education providers. A listing of providers and courses may be found at this link: http://insurance.ky.gov/CE/. Under the Continuing Education section, select “view active independent providers.”
- Can I take online courses? Courses may be taken as classroom, correspondence, online self-study, or any combination thereof.
Ref: http://insurance.ky.gov/Documents/AdjLicLegisChanges060710.pdf