An independent adjuster shall have the powers granted by its principal to investigate, report upon, adjust and settle claims on behalf of an insurer or self insurer and have additional powers as to claims and losses as may be conferred by the principal. A staff adjuster shall have only such powers with respect to claims and losses as granted by the adjuster's employer or affiliates of the adjuster's employer. A temporary adjuster shall, as to claims and losses, have the powers of the employer, subject to extension or limitation by contract.
History: Laws 1984, ch. 127, § 236; 2007, ch. 282, § 9.
ANNOTATIONSCross references. — For settlements, releases and statements of injured patients, see 41-1-1, 41-1-2 NMSA 1978.
The 2007 amendment, effective June 15, 2007, provided that an independent adjuster has the powers granted by its principal to investigate and report on claims.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 44 Am. Jur. 2d Insurance § 1702.
Activities of insurance adjusters as unauthorized practice of law, 29 A.L.R.4th 1156.
Liability of independent or public insurance adjuster to insured for conduct in adjusting claim, 50 A.L.R.4th 900.