"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 crunch.
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.
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 or managers.
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.
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.
