Report of losses

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  • (a) Every adjuster who investigates any fire loss claim under any insurance contract covering property located in the Virgin Islands shall promptly report to the Commissioner any facts or circumstances found and from which he believes fraud has been committed or attempted.

  • (b) Upon completing the adjustment of any fire loss requiring claim payments aggregating $500 or more, for damage to or destruction of property located in the Virgin Islands, under any policy or policies issued by an unauthorized insurer, an adjuster shall promptly report the details to the Commissioner, upon forms prescribed and furnished by the Commissioner. The report must state:

    • (1) the names of the insurers and insured involved,

    • (2) the amount of insurance on the property carried by each insurer,

    • (3) the amount of the claim and the amount paid by each insurer,

    • (4) the circumstances of the loss, and

    • (5) other information as the Commissioner requests.

  • (c) Upon the Commissioner’s request, each adjuster shall, in similar manner, report to the Commissioner relative to losses and claims investigated or adjusted, and arising under other insurance contracts issued by unauthorized insurers.


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