| (a) Each public insurance adjuster, as a condition for being licensed, and each trainee as a condition for receiving a temporary training certificate and as a condition for continuing the license or training certificate in force, must maintain proof of financial responsibility by obtaining a surety bond in the principal sum of not less than $10,000 that covers all the required perils and losses set forth under Insurance Code Article 21.07-5 §6. (b) Each public insurance adjuster and trainee must obtain separate proof of financial responsibility and may not rely on the bond of any other public insurance adjuster or trainee to demonstrate proof of financial responsibility. |
