Claims Adjuster - Classes

Classes

• Claim Service Representatives (employed by the Insurance Company, or Independent Adjusting Company).

In the two first instances, and the fourth, the adjuster operates on behalf of the insurer.

Adjusters may handle "property claims" involving damage to buildings and structures, or "liability claims" involving personal injuries or third-person property damage from liability situations, such as motor vehicle accidents, slip and falls, dog bites, or alleged negligent behavior. Some adjusters handle both types of claims and are known as "Multi-Line" adjusters. Also "All Lines Adjusters" may handle "any" type of claim already identified and also include Professional Liability, Hospital Professional Liability, Excess Liability, Physicians and Surgeons Liability, Aircraft Liability/Hull, Inland Marine, Ocean Marine, Boiler and Machinery, as well as various types of Bond Losses.

Public adjusters work exclusively for the policyholder. This means there should be no inherent conflict of interest when it comes to advocating on the policyholders behalf to the insurance company.

An independent adjuster could be working for multiple insurance companies or self-insured entities. If licensed by state authority they represent pinnacle of property loss knowledge in their field; whether it be residential, vehicular, marine, etc.

An adjuster will frequently verify that coverage applies through an insurance policy, investigate liability for the damages caused, and make compensation to the injured person based on their emotional or physical property damages.

Many homeowners reach a fair settlement with the staff or independent adjuster they are working with. In the event they are not, they can hire a public adjuster. Public adjusters claim that many homeowners do not collect all the money to which they are entitled due to a lack of familiarity with the claim process. The use of a public adjuster may mitigate this risk and could help put the policyholder on a more equal footing with the insurance companies, which increasingly use experts to support their side of a claim settlement. Public adjusters charge for their services, the standard rate is 10% of your claim settlement. For example, If you suffer a $250,000.00 fire loss, the public adjuster fee for assisting you would be $25,000.00 This $25,000.00 is taken out of your claim settlement. The objective of a claims adjuster should be to protect the insured against not only financial loss, but also the cost of recovering it.

Specific duties include:

• Responding to claims in a timely manner
• Filing paperwork
• Communicating with policy holders
• Investigate liability
• Assess damages
• Research, detail and substantiate each aspect of the claim, including building damage, contents, and extra living expense claims.
• Negotiate with product/service providers on time and cost of repairs for the purpose of making an offer of settlement to the insured.
• Ensuring accurate procedures
• Protect the interest of the insurance company the adjuster represents, when dealing with claimants.
• Computer Skills with a high degree of proficiency.

Some states now require public adjusters disclose to claimants whose interest specifically independent, staff and public adjuster represent, before they are retained by the policyholder. There is no such requirement at this time for insurance companies to do the same.

IEA conducts certified online classes for people. The Insurance Institute of America also provides training leading to Professional Designations. Some states accept the Associate of Claims designation, and will waive the licensing examination, and grant a license by the State Insurance Commission. Some Insurance Carriers, and Independent Adjusting Companies, provide in house training certified by the State Insurance Commission. The must be pre approved by the Licensing Division. An adjuster license is issued to those that pass the requirements.