Adjuster


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Adjuster

A person who investigates a claim on an insurance policy. That is, an adjuster observes any damage, consults police reports and/or hospital records, and generally ensures that an event occurred the way it was said to have occurred. Adjusters may work for a policyholder (in which case they have an incentive to see a claim paid), an insurance company (in which case they have an incentive to see a claim denied), or some other interested party.
References in periodicals archive ?
Not only will you reduce your workload, this will make you a better adjuster.
The Public Adjusting industry worked closely with Senator Jeff Klein, Counsel to Governor Cuomo and representatives of the Department of Financial Services to draft language that had the best hope of protecting consumers from conflicts of interests that could arise if an unscrupulous adjuster conspires with a contractor they control to take advantage of a fire victim by unfairly profiting from the loss while doing substandard repairs.
The notification came following inquiries regarding use of public adjusters to negotiate fees, said the Oklahoma Insurance Department.
The Florida public adjusters at The Public Adjusters say the majority of property owners they work with every day are unaware they even have any responsibilities under their insurance policy.
The public adjusters can work with the insurance company and their adjuster and give the consumer some confidence that they're being treated fairly," which might avoid a lawsuit, he said.
A contractor can clean the smoke off of the surface of the sheetrock, but a public adjuster will point out to the insurance company that the smoke odor will never come out of the insulation of the sheetrock, and therefore the sheetrock needs to be replaced.
Citizens' officials do not dispute the findings of the audit, but warn that the audit was based on raw data that does not give a clear indication of exactly when the public adjuster was hired by the policyholder.
The bill also imposes a 72-hour waiting period after the occurrence of an event that may be the subject of a claim during which a public adjuster may not solicit business either by phone or face-to-face, or enter into a contract with any insured or claimant.
By helping the adjuster set and maintain adequate claim reserves, you can minimize expenses and reduce the time you spend on each case, increasing your productivity.
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