Which category of adjuster is required to hold a license from the Maryland Insurance Administration under Insurance Article Title 10, Subtitle 4?
A. Staff adjusters employed directly by an insurance company
B. Independent adjusters retained by an insurer to investigate claims on the insurer's behalf
C. Public adjusters, who are hired and paid by the policyholder to represent the insured's interests in a claim
D. No adjusters of any kind are required to be licensed in Maryland
Source: Md. Code, Ins. § 10-403
Why does an adjuster who works for an insurance company adjusting claims on the insurer's behalf typically fall outside Maryland's public adjuster licensing requirement?
A. Because Maryland exempts all adjusters from licensing regardless of who they represent
B. Because § 10-402 limits the subtitle's scope to adjusters representing policyholders for compensation, excluding adjusters employed by or representing insurers
C. Because insurer-side adjusters must instead hold a producer license
D. Because insurer-side adjusters are regulated exclusively by federal law, not state law
Source: Md. Code, Ins. § 10-402
What must a Maryland public adjuster contract contain, at minimum, under § 10-411?
A. Only the adjuster's name and a handshake agreement on fee
B. The adjuster's name, business address, license number, a description of services, and the fee or compensation arrangement, with the document titled 'Public Adjuster Contract'
C. A blanket assignment of the entire insurance policy's benefits to the adjuster with no fee disclosure
D. Nothing specific; Maryland leaves contract contents entirely to the parties' discretion
Source: Md. Code, Ins. § 10-411
As of the 2024 amendment effective October 1, 2024, how many business days does an insured have to rescind a signed public adjuster contract in Maryland?
A. 3 business days
B. 5 business days
C. 10 business days
D. 30 business days
Source: Md. Code, Ins. § 10-411 (as amended by 2024 Ch. 826, H.B. 36, eff. Oct. 1, 2024)
If a public adjuster's fee under a Maryland contract is based on a percentage share of the insurance settlement, what must the contract specify?
A. Nothing further, since percentage-based fees are self-explanatory
B. The exact percentage to be paid, clearly stated in the contract
C. Only a maximum dollar cap, with the percentage left undisclosed
D. The percentage may be disclosed verbally instead of in writing
Source: Md. Code, Ins. § 10-411
