GA| Bulletin 25-08, issued by the Iowa Insurance Division, explains how licensed public and independent adjusters in Iowa can satisfy the new financial responsibility requirements under SF 619 / Iowa Code § 522C.7, outlining acceptable forms, filing expectations, exemptions, and the bulletin’s June 30, 2026 sunset date.
Acceptable financial responsibility
- Surety Bond
- Professional liability / E&O
- Irrevocable letter of credit
Proof, recordkeeping, and enforcement
- Adjusters wishing to keep a previously filed bond may do so by maintaining continuous compliance; those switching to another option should follow Division instructions on the Division’s website.
- Licensees must keep current evidence of their bond or qualifying coverage and provide it on request; lapses or failure to maintain continuous responsibility will result in license inactivation until acceptable proof is submitted and approved.
- Noncompliance may also be treated as an unfair method of competition or unfair or deceptive act or practice.
Staff adjusters, appraisers, umpires
- Staff adjusters are not required to comply with § 522C.7 but must follow all other provisions of Iowa Code chapter 522C.
- Licensed appraisers and umpires under chapter 522F have no § 522C.7 financial responsibility requirement.