Tue UNrrep STATES VIRGIN ISLANDS

Orricr or tire LIZUTENANT GOVERNOR



KENNETH E. MAPP



LizuTENANT GOVERNOR



October 20, 1995



THE HONORABLE ROY L. SCHNEIDER

Governor



United States Virgin Islands

Government House, Charlotte Amalie

St. Thomas, U.S. Virgin Islands 00802



Dear Governor Schneider:



Transmitted herewith are Rules and Regulations promulgated with regard to the

maximum fee which may be charged residential insureds by public adjusters. In light

of the fact that numerous public adjusters have been licensed in the Territory in the

wake of Hurricane Marilyn, these regulations are deemed in the public interest and for

the protection of policyholders in the Territory.



Commercial insureds are not included in this regulation since they are well equipped

to negotiate their business affairs. However, due to the compelling circumstances of

this matter and in the interest of our residents, it is urged that these regulations

become effective October 1, 1995. This is critical since some public adjusters have

been successful in coercing some residents into paying them as much as 14% of

insurance proceeds received. ;



If you have any questions or comments, please advise.



Sincerely



K ETH E. MAPP

Lieutenant Governor



Konorns Ganz No. 18 > GHARLOTTE AMALIE « ST. THOMAS, VIRGIN ISLANDS 00802 ¢ (BOO) 774-2091 + Fax (600) 774-G953

1131 Kino Streer, Surtr 101 + GHRISTIANSTED « St. GROIX. VIRGIN ISLANDS 00820-4070 « (800) 773-6440 « Fax (600) 772-0830



|



Pursuant to the p



owers vested in me by Section 11 of the Revised Organic



| Act of 1954, as amended, and Title 3, Chapter 3



5, Virgin Islands Code, the above



| Rules and Regulations are hereby approved.



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| Dated: / Sess:



YL. SCHNEIDER



Governor



United States Virgin Islands



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