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New Workers' Compensation Adjuster License Required

Bulletin
Friday, July 1, 1994
Insurance Bulletin #105

BULLETIN 105

New Workers' Compensation Adjusters License Required

July 1, 1994

Below is a summary of the new requirements set forth by the 1994 Vermont legislature amending Title 8 V.S.A. section 4803. The law took effect July 1, 1994.The entire text of the law should be consulted to insure compliance.

The law requires the following:

1) Effective July 1, 1994 all adjusters who adjust workers' compensation claims must have a temporary workers' compensation license if they are not already licensed as a workers' compensation adjuster.

2) As of January 1, 1996 all adjusters who adjust workers' compensation claims must hold a workers' compensation adjusters license and all temporary licenses expire.

3) Every adjuster who adjusts workers' compensation claims must take and pass the Vermont workers' compensation adjuster examination. All adjusters granted a temporary workers' compensation license must take and pass the Vermont workers' compensation examination prior to January 1, 1996 in order to continue their workers' compensation license.

4) The Commissioner shall set forth educational and training programs required for licensure. All Resident and Non-Resident Property and Casualty Adjusters Currently Licensed could in the past handle workers' compensation claims under their adjuster license. Effective July 1, 1994 Property and Casualty Adjusters Can No Longer Adjust Claims for Workers' Compensation without obtaining a temporary workers' compensation license from The Department. All Resident and Non-Resident Workers' Compensation Adjusters Currently Licensed do not have to apply for the temporary workers' compensation license. All Non-Resident Workers' Compensation Adjusters who received the workers' compensation license through reciprocity by taking an examination in their home state must take and pass the Vermont workers' compensation examination prior to January 1, 1996 and meet the continuing education and training requirements set forth under Title 8 V.S.A. section 4803(3)(e) in order to continue with their workers' compensation license after January 1, 1996. All Adjusters Currently Licensed for property and casualty who do not wish to handle workers' compensation claims can continue with their current adjuster license and nothing additional will be required of those individuals. All Workers' Compensation Adjusters will be required to meet the continuing education requirements as set forth under Title 8 V.S.A. section 4803(3)(e). The Department will be issuing a future bulletin describing the continuing education and training requirements for licensure as a workers' compensation adjuster.

TRANSITIONAL PROVISIONS

Adjusters licensed on or after the effective date of this act on written request to the Commissioner of Banking, Insurance, and Securities, shall be granted a temporary workers' compensation adjuster license. All temporary licenses shall expire on January 1, 1996.No temporary license may be issued or remain valid after the date designated for those licenses to expire. Requirements to Apply for the Temporary Workers' Compensation Adjuster License:

$30.00 -- Application fee.

$30.00 -- License fee (retaliatory to the state of the individual).

Adjusters with a temporary license will have to renew their license by March 31, 1995. However, adjusters should take notice that temporary licenses expire January 1, 1996 and not March 31, the traditional expiration date of all licenses. The Department will send out additional information in 1995 regarding the expiration of temporary licenses and the renewal process and dates for 1996.

Elizabeth R. Costle

COMMISSIONER OF BANKING AND INSURANCE