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Army Veteran Owned | Expert Surety Bonds Since 2004
Have a question? +1 815-826-6324 (815-8-BondAI) phil@AmericasSuretyBonds.com
Army Veteran Owned | Expert Surety Bonds Since 2004
The $50,000 bond is filed once on the Department's own form and then it stops being something you think about. It is not a deposit. You pay a premium instead of parking $50,000, and the executed DFS-H2-72 goes to the Bureau of Licensing with the rest of your 3-20 file. If you are still an apprentice, you need the same $50,000 bond now, not later.
Florida requires a $50,000 surety bond from every public adjuster applicant under Section 626.865(2), Florida Statutes, and the same $50,000 bond from every public adjuster apprentice under Section 626.8651. It is a flat figure with no tiers. The bond runs in favor of the Department of Financial Services, must be written on the Department's form DFS-H2-72, and must stay in effect for one year after the license expires or terminates. Nonresident public adjusters file it too, with no credit for a bond posted in a home state.
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The figure is $50,000 and it does not move. It does not scale with claim volume, firm size, or how long you have been adjusting. Section 626.865(2) sets it for the public adjuster license and Section 626.8651 sets the identical $50,000 for the public adjuster apprentice.
That second one is the part people miss. Plenty of applicants assume the bond arrives at the end, when the 3-20 license does. It does not. The apprentice appointment requires the $50,000 bond on file first, and the apprentice route is how most people reach a 3-20 in the first place, because Section 626.865(1)(e) requires six continuous months appointed as an apprentice, or six months as an appointed all-lines, independent or company adjuster, or six months licensed and appointed as a nonresident public adjuster.
Nobody adjusting claims for policyholders. There is no grandfather date, no experience waiver, no exemption for adjusters who have been doing this for decades. Section 626.865(3) says every applicant passes the public adjuster examination, including anyone seeking reinstatement or a new license after a prior license expired or was revoked, and the Department's own 3-20 checklist puts it plainly: there are no exemptions from the exam.
What is genuinely outside this bond is the other side of the claim. Company adjusters and independent adjusters working for carriers hold different licenses and do not file this bond. That distinction, not any grandfather clause, is the real exemption line.
Nonresidents get no break either. The 73-20 nonresident checklist requires the same original $50,000 bond on the Department's form. Continuing education completed in a reciprocal state can carry over. The bond cannot.
It is conditioned on faithful performance of your duties as a public adjuster. It is in favor of the Department and specifically authorizes recovery by the Department if the licensee is guilty of fraud or unfair practices. The aggregate liability of the surety for all such damages cannot exceed the amount of the bond, so $50,000 is the ceiling across every claim, not per claim.
Two dates catch people.
The bond must remain in effect for one year after the license expires or terminates. Surrendering your license does not end the bond.
And the bond cannot be terminated unless at least 30 days written notice is given to the licensee and filed with the Department. Form DFS-H2-72 carries the same 30 day mechanism, by registered mail, and the surety stays liable for anything that accrued before the cancellation took effect.
DFS-H2-72 is the Department's own Public Adjuster's Bond form, and the Department requires its form rather than a surety's generic paper. The obligee is the Department of Financial Services of the State of Florida. The principal's signature has to be witnessed, a certified copy of the power of attorney has to be attached, and a Florida licensed general lines agent representing the surety has to countersign it. The original goes to the Division of Insurance Agent and Agency Services, Bureau of Licensing, 200 East Gaines Street, Larson Building Room 419, Tallahassee, FL 32399-0319.
The 3-20 requires an appointment to be active and will expire if left unappointed for 48 months. The adjuster appointment fee under Section 624.501(12) is $60 for the original appointment and for each biennial renewal or continuation. Continuing education for the 3-20 is 24 hours due biennially by the end of the licensee's birth month, in courses designated CE3-20 and CE5-320.
No. It is $50,000 for everyone, set by Section 626.865(2) for the public adjuster license and by Section 626.8651 for the apprentice. There are no tiers and no reductions.
Yes, and this is the single most common surprise. The public adjuster apprentice appointment requires its own $50,000 surety bond on the Department's form. It is not deferred until you get the 3-20.
No. The nonresident 73-20 checklist requires an original $50,000 surety bond on a Department form regardless of your home state license. Continuing education completed in a reciprocal state can be accepted. The bond gets no such treatment.
Not immediately. The bond must remain in effect for one year after the license expires or terminates. Separately, the surety cannot terminate it without at least 30 days written notice given to the licensee and filed with the Department.
No. The Department's licensure checklists call for the bond form provided by the Department, which is DFS-H2-72. It also requires a witnessed principal signature, a certified copy of the power of attorney, and countersignature by a Florida licensed general lines agent representing the surety.
There is no set rate. Premium on a $50,000 license bond is determined by underwriting, primarily the applicant's personal credit and financial history, and secondarily the applicant's record in the business. Get an actual quote. Any page telling you a fixed percentage before looking at your file is guessing.
No. The exam and the six months of prior appointed adjusting experience under Section 626.865(1)(e) are separate prerequisites. Meeting them qualifies you to be licensed. The bond is still filed.
No. This bond belongs to public adjusters, who work for policyholders. Company adjusters and independent adjusters handling claims on behalf of insurers hold different licenses and do not file it.
The bond is a condition of licensure. Recovery under it is available to the Department if the licensee is guilty of fraud or unfair practices, and the surety's aggregate liability for all such damages is capped at the $50,000 face amount. Letting it lapse puts the license itself at issue, so replace it before the 30 day cancellation notice runs out.
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