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Legal Memorandum: Definition of an Adjuster in VI

Issue: What is the definition of an adjuster under Virgin Islands law?

Area of Law: Insurance Law
Keywords: Adjuster; Compensation or commission; Insurance contracts
Jurisdiction: Virgin Islands
Cited Cases: None
Cited Statutes: 22 V.I. Code Ann. § 751(a)
Date: 05/01/2005

The term “adjuster” is defined by 22 V.I. Code Ann. § 751(a), which states:

§ 751.  Definitions

 

(a) “Adjuster” means any person who, for compensation as an independent contractor or as an employee of an independent contractor, or for fee or commission, investigates or reports to his principal relative to claims arising under insurance contracts, on behalf solely of either the insurer or the insured.  An attorney at law who adjusts insurance losses from time to time incidental to the practice of his profession, or an adjuster of marine losses, is not deemed to be an “adjuster” for the purposes of this chapter.

 

(1) “Independent adjuster” means such an adjuster representing the interests of the insurer.

 

(2) “Public adjuster” means an adjuster employed by and representing solely the financial interests of the insured named in the policy. 

 

Id.  The statute contains no language limiting or altering an adjuster’s duties at common law. 

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