N.J. Admin. Code § 11:1-37.7

Current through Register Vol. 56, No. 21, November 4, 2024

Section 11:1-37.7 - Temporary sublicensee

(a) In the event of a catastrophic loss occurrence, a licensed public adjuster may apply to the Commissioner for the issuance of a temporary sublicense for an individual temporarily hired or retained to act as a public adjuster.

1. The licensed public adjuster shall sponsor the temporary sublicensee who shall be its agent and work under its direct supervision.

2. The sponsoring public adjuster shall bear the full responsibility for the actions of its temporary sublicensee undertaken in the course of acting as a public adjuster.

3. The sponsoring public adjuster shall ensure that the temporary sublicensee complies with the Act and this subchapter.

(b) Upon the submission of a properly executed application and the fee required in accordance with 11:1-37.1 8, the Commissioner may issue a temporary sublicense which may be valid for an initial period not to exceed 90 days from the date of the declaration of the catastrophic loss occurrence. In order to evaluate the adequacy and competency of the temporary sublicensee, the following information shall be filed with the Commissioner:

1. Proof of licensing in another state or proof of five years employment experience as a public adjuster in any state; and

2. Evidence that the individual is covered by a bond in accordance with 11:1-37.9.

(c) At the discretion of the Commissioner, a temporary sublicense may be renewed for one additional 90-day period upon the submission to the Commissioner of the fee required in accordance with 11:1-37.1 8. The Commissioner shall consider:

1. The nature, duration and/or continuation of the catastrophic loss occurrence;

2. The continued need for temporary sublicensees; and

3. The conduct of the particular temporary sublicensee.

(d) A temporary sublicense shall only be valid for the duration required by the specific catastrophic loss occurrence for which the temporary sublicensee has been issued or as determined by the Commissioner, but in no event for a period longer than that designated in the license.

N.J. Admin. Code § 11:1-37.7