"While the new regulation requires a favorable endorsement from APAC and PILA, the Insurance Commission, as the ultimate decision-making authority for approving an adjuster
's license, may direct the issuance of the license even without the endorsement if we find that the non-endorsement unjustified," Funa said.
An insurance adjuster
works to investigate the facts of a loss when a claim is involved.
An anticipated rise in natural catastrophes also will add to the claims adjuster
Given the 67 red flags, it would be impossible for a claims adjuster
to instantly calculate these warning signs in varied combinations to know that one claim has a higher probability of being fraudulent than another claim.
Many states require adjusters
to be licensed in order to practice there.
Once the adjuster
addresses all of the new claims, he or she can then move on to other assignments such as: writing reports, attending appointments and interviews with claimants and witnesses, inspecting the car in question, and additional research such as looking at police reports.
Founded in 1951, the National Association of Public Insurance Adjusters
advocates for public adjuster
education and a high standard of professional conduct and ethics.
The new law will prohibit a contractor from also serving as an adjuster
on an insurance claim without disclosing the relationship between them.
A public adjuster
acts on behalf of the insured in negotiating or settling a property claim for compensation.
As a former claims adjuster
that worked with major carriers from the 1970s through the 1990s, I fully agree with Liles that most bad faith situations in which insurance carriers find themselves are problems that were created by the carriers' own policies or adjusters
A BILL THAT WOULD ALLOW property owners to hire their own insurance adjuster
on Tuesday will again be discussed in the Arkansas Senate Committee on Insurance & Commerce.
They allow an insurance company's adjuster
to measure the loss, as opposed to taking advantage of their right to make their own claim.
State auditors concluded that policyholders who hire public adjusters
wound up waiting longer to resolve their claims, with figures ranging from 132 to 296 days longer than claims without public adjuster
The bill makes other changes in the law affecting public adjusters
: prohibiting them and public adjuster
apprentices from paying fees for referrals of business to the public adjuster
; requiring public adjuster
apprentices to obtain the Accredited Claims Adjuster
designation prior to applying for a license as a public adjuster
apprentice; limiting the number of active public adjuster
apprentices employed by a public adjusting firm to 12 and the number of apprentices supervised by a public adjuster
to 3; and requiring OPPAGA to do a study on public adjusters
and to report to the presiding officers, Governor, Chief Financial Officer, & Insurance Commissioner by February 1, 2010.