Regulatory Compliance Consulting Firm

Independent Adjuster – Homestate Designation

A homestate is defined as the principal place of business or the residence of an individual.  Since all states do not license Independent Adjusters, some Independent Adjusters will need to designate a homestate if the state they reside in or their principal place of business operates in does not issue an Independent Adjuster license.  Several of the states that do issue Independent Adjuster licenses have recently updated their requirements for licensing and renewing Independent Adjusters without a traditional resident state.  These states are adopting the NAIC guidelines that require individuals without a resident state to officially designate a homestate. This information should be on file with the Department of Insurance for the chosen Designated Homestate and reflected on the national producer database.

 

For any questions regarding how to confirm your license is compliant or for assistance to make the necessary changes, please contact Westmont Associates.

Contact Westmont Associates, Inc.

Westmont Associates, Inc. tracks developments affecting the insurance industry, in addition to our other services.  If you have any questions, please contact us.

 

 info@westmontlaw.com | (856) 216-0220 | www.westmontlaw.com

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Phone: 856-216-0220
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