Rules and Regulations Public adjuster 5 cap
aunt THE UNITED STATES VIRGIN IsLaNDS a Vf MWS \ Orricgr OF THE LIEUTENANT GOVERNOR KENNETH E. MAPP LIEUTENANT GOVERNOR October 20, 1995 THE HONORABLE ROY L. SCHNEIDER Governor United States Virgin Islands Government House, Charlotte Amalie St. Thomas, U.S. Virgin Islands 00802 Dear Governor Schneider: Transmitted herewith are Rules and Regulations promulgated with regard to the maximum fee which may be charged residential insureds by public adjusters. In light of the fact that numerous public adjusters have been licensed in the Territory in the wake of Hurricane Marilyn, these regulations are deemed in the public interest and for the protection of policyholders in the Territory. Commercial insureds are not included in this regulation since they are well equipped to negotiate their business affairs. However, due to the compelling circumstances of this matter and in the interest of our residents, it is urged that these regulations become effective October 1, 1995. …
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aunt THE UNITED STATES VIRGIN IsLaNDS a Vf MWS \ Orricgr OF THE LIEUTENANT GOVERNOR KENNETH E. MAPP LIEUTENANT GOVERNOR October 20, 1995 THE HONORABLE ROY L. SCHNEIDER Governor United States Virgin Islands Government House, Charlotte Amalie St. Thomas, U.S. Virgin Islands 00802 Dear Governor Schneider: Transmitted herewith are Rules and Regulations promulgated with regard to the maximum fee which may be charged residential insureds by public adjusters. In light of the fact that numerous public adjusters have been licensed in the Territory in the wake of Hurricane Marilyn, these regulations are deemed in the public interest and for the protection of policyholders in the Territory. Commercial insureds are not included in this regulation since they are well equipped to negotiate their business affairs. However, due to the compelling circumstances of this matter and in the interest of our residents, it is urged that these regulations become effective October 1, 1995. This is critical since some public adjusters have been successful in coercing some residents into paying them as much as 14% of insurance proceeds received. ? if you have any questions or comments, please advise. Sincerely, K ETH E. MAPP Lieutenant Governor Konoens Gane No. 18+ CHARLOTTE AMALIE « ST. THOMAS, VIRGIN ISLANDS 00002 « (800) 774-2001 = Fax (g00) 774-G963 1131 Kino Street, Surrz 101 + CHRISTIANSTED + ST. Grorx, VIRGIN ISLANDS 00820-4070 « (800) 773-6440 » Fax (900) 773-0390 | Pursuant to the powers vested in me by Section 11 of the Revised Organic | Act of 1954, as amended, and Title 3, Chapter 35, Virgin Islands Code, the above Rules and Regulations are hereby approved. a Dated: / é HOY L. HNEIDER Governor | k t United States Virgin Islands t | 1] lj | | ir suit] 44 rit oy !