Public Adjuster Contract Template for India

The Public Adjuster Contract is a crucial document used in the Indian insurance sector when a policyholder seeks professional assistance in handling insurance claims. This agreement establishes the terms under which a licensed public adjuster will represent the policyholder's interests in negotiating and settling insurance claims. The contract must comply with the Insurance Act, 1938, IRDAI regulations, and other relevant Indian laws governing insurance professionals. It typically includes detailed provisions about the adjuster's authority, fee structure, scope of services, and professional obligations. This document is essential for protecting both the adjuster's and client's interests while ensuring transparency and regulatory compliance in the claims adjustment process.

1. Parties: Identifies the public adjuster and the client, including their complete contact details and registration/license numbers

2. Background: Describes the context of the agreement, including the insurance claim event and the client's need for adjuster services

3. Definitions: Defines key terms used throughout the contract including 'Claim', 'Services', 'Fee', 'Insurance Policy', etc.

4. Scope of Services: Details the specific services to be provided by the public adjuster, including claim evaluation, documentation, negotiation with insurers

5. Authority and Authorization: Specifies the extent of authority granted to the adjuster to act on behalf of the client

6. Fees and Compensation: Details the fee structure, payment terms, and conditions for compensation

7. Duties and Responsibilities: Outlines specific obligations of both the adjuster and the client

8. Term and Termination: Specifies the duration of the agreement and conditions for termination

9. Confidentiality: Addresses the handling of confidential information and documents

10. Compliance with Laws: Confirms adherence to relevant insurance regulations and laws

11. Dispute Resolution: Specifies procedures for resolving disputes between parties

12. General Provisions: Includes standard contractual provisions like notices, amendments, governing law