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SFAA Objects to Proposed Montana Rules Eliminating Aggregate Liability Provision for Public Adjuster

Tuesday, February 27, 2018  
SFAA Objects to Proposed Montana Rules Eliminating Aggregate Liability Provision for Public Adjusters’ Bond 

SFAA advised against a proposed rule from the Montana Commissioner of Securities and Insurance that would delete a provision limiting the surety’s aggregate liability to the bond amount for the bond required from public adjusters. SFAA noted that the proposed rules could affect the bond’s availability by increasing the surety’s financial exposure. The proposed rules state that the intent of the changes is to remove superfluous language without changing the meaning of the rule. Our comments noted that eliminating the limit on the surety’s aggregate liability could result in a material, unintended change as the statute does not limit the surety’s aggregate liability.

Members should visit Government Relations / General Info (Members) for more information.



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