have to work irregular hours in order to accommodate the heavy work load.
In event of a large storm, there often aren't enough adjusters
in the state to handle the volume of losses.
The new law is designed to require disclosure of any relationships or referral fees between the adjusters
and the contractor to avoid any inappropriate conflicts of interest.
Global Banking News-June 19, 2013--Ceiling on fees for public adjuster
in Oklahoma(C)2013 ENPublishing - http://www.
In order to better understand your insurance policy, The Public Adjusters
suggest policy holders research their policy so they completely understand what their insurance company is responsible for when awarding claims for property damage.
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.
We don't think there is a need in Arkansas to have public adjusters
," said Will Rijksen, vice president of public affairs for the American Insurance Association in Washington, D.
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.
For non-catastrophic claims, auditors concluded that policyholders who use public adjusters
received a settlement typically worth $9,379 compared to $1,391 for those who did not use one.
Florida citizens reportedly were subjected to a range of improper and unethical conduct, including adjusters
operating without a license; others who abandoned claims; still others who charged excessive fees; and even adjusters
who offered "commissions"--such as wide-screen televisions--to homeowners who hired them to challenge their insurers.
The insurance industry fails to agree on whether there is a day-to-day shortage of claim adjusters
rarely meet claimants face-to-face or personally investigate accident scenes.