"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.
You've heard public
adjusters say that they see it all the time.
Claims
adjusters are often among the first on the scene after a catastrophe strikes and play an invaluable role in getting claims processed, people settled and repairs underway.
This is just a sampling of the details that
adjusters and SIU investigators routinely examine to discern the possibility of workers comp claims fraud.
Auto claims
adjusters experience work-related emotional stress due to the nature of their work.
Hail losses from specialty providers ran just over $20,000, almost twice as high as the estimates submitted by staff
adjusters, independent
adjusters and mitigation providers.
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.enpublishing.co.uk
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.
Arkansas is one of the few states that don't allow public
adjusters, and the insurance industry in Arkansas wants to keep it that way.
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 representation.
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.
