If the insurer, not later than five (5) business days after the date on which the loss is reported to the insurer, either pays or commits in writing to pay the Insured the policy limit(s) of the insurance policy, the Public Adjuster shall not receive a commission consisting of a percentage of the total amount paid by an insurer to resolve a claim, and shall be entitled only to reasonable compensation from the Insured for service provided by the Public Adjuster on behalf of the Insured, based on the time spent on a claim and expenses incurred by the Public Adjuster, until the claim is paid or the Insured receives a written commitment to pay from the insurer. Such fees shall not exceed 10% of the amount of the insurance settlement claim paid by the insurer as provided for in paragraph 3.c. above.

The text asserts Sufficient Conditions for the truth of:

The Public Adjuster is entitled only to reasonable compensation from the Insured for services provided based on time spent on the claim and expenses incurred by the Public Adjuster, until the claim is paid or the Insured receives a written commitment to pay from the insurer. ▼

 

The text asserts Necessary Conditions for the truth of:

The Public Adjuster receives a commission consisting of a percentage of the total amount paid by the insurer to resolve the claim. ▼

 

The fees paid to the Public Adjuster exceed 10% of the amount of the insurance settlement claim paid by the insurer. ▼