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 ?
Individuals wanting to become insurance claims investigators will now need an endorsement coming from either the Association of Philippine Adjustment Companies (APAC) or Philippine Institute of Loss Adjusters (PILA), the government regulator said.
If the insured believes that the adjuster's estimate is low, they can talk to a contractor and submit their own estimates.
Insurers are now filling the claims adjuster talent gap with temporary or interim staff and calling on retirees during peak catastrophe seasons.
Using cognitive computing - in this case natural language processing - a claimant who says he "smokes weed every day" or "is on methodone," which is recorded in the adjuster's unstructured notes, could be flagged as having a potential "substance abuse problem," even though these three words do not appear in either the structured or unstructured notes.
Prioritizing: As an auto claims adjuster, you can ease some of the burden by prioritizing the most urgent matters and setting a realistic goal of how many activities you can complete in a day.
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.
My client had $50k in UM coverage and told the adjuster that she was still treating; the adjuster had no idea of the adverse drivers' coverage, but still decided to ask the insured to sign a UM release.
Joiner said having a public adjuster, though, could reduce the number of lawsuits.
Trey Stone, CEO of Houston-based Guardian Equity Management, which owns and operates 3,500 apartments, says he hires a public adjuster for every claim that he estimates to be $50,000 or more, but says smaller owners may want to hire one for claims as small as $ 10,000.
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.
* Hurricane Katrina stretched the adjuster pool to its limits, and put a spotlight on the differences between adjusters employed by insurance companies versus independent adjusting firms.