A bill for an act relating to investigations of insurance fraud related to adjusters, appraisers, and umpires, and license and financial responsibility requirements for adjusters, and including effective date provisions.

This bill updates Iowa's licensing and financial requirements for insurance adjusters. It requires adjusters to secure a minimum $50,000 surety bond before licensure, which must cover damages from their fraudulent, negligent, or deceptive actions affecting policyholders. The bond cannot be terminated without 30 days' written notice to the insurance division, and an adjuster's license becomes inactive if this requirement is violated. The bill also clarifies investigation authority for insurance fraud involving adjusters, appraisers, and umpires, and eliminates a separate license requirement for insurance producers appointed by insurers with claim authority.