Why Hire A Public Adjuster

Public adjusters are hired when the policyholder is unable to resolve a claim and requires assistance with the process of determining the exact nature of the loss or any violations found. Sometimes, this can occur after the policy has been issued and the policyholder has obtained insurance coverage. Once the public adjuster is engaged and receives all the information related to the loss, he or she will then need to determine the probable loss and approximate dollar amount of loss. We will come back to this point later. Once the claim is adjudicated and settled, the public adjuster is then responsible for forwarding the claim information to the insurance company.

When we discuss public adjusters that are hired to help settle insurance claims, we are talking about actuaries that are called in to settle insurance claims on your behalf. Public adjusters are hired when the policyholder is unable to resolve a claim and requires assistance with the process of determining the exact nature of the loss or any violations found. Sometimes, this can occur after the policy has been issued and the policyholder has obtained insurance coverage. Once the public adjuster is engaged and receives all the information related to the loss, he or she will then need to determine the probable loss and approximate dollar amount of loss. We will come back to this point later. Once the claim is adjudicated and settled, the public adjuster is then responsible for forwarding the claim information to the insurance company.

What the Public Adjuster is responsible for when dealing with the insurance companies involves settling the claims. The Public Adjuster is a neutral party that is hired by the insurance company to assist with the settlement process. This is often an invaluable service to the policyholder who is unable to resolve the claim on his or her own. Sometimes, the Public Adjuster is also a casualty adjuster who receives the claim information from the insurance company and is then responsible for determining the actual loss, the amount of loss, and any violations found on the claim.

The Public Adjuster also receives claims settlement requirements from the insurance company. Often, the Public Adjuster is also a party to settlement discussions, however, they are not bound by the agreement. The Public Adjuster is also asked to submit a final report to the insurance company on the claims experience.

The Public Adjuster’s role as an independent party is important to the insurance company, this role should reflect a sense of professionalism. The Insurance adjuster’s role has always been a somewhat aloof one, as well representing the insurance company’s best interests, however, the Public Adjuster is asking to bring that role into the real world.

The Public Adjuster’s role as a third party “settlement broker” is a great idea that many policyholders and their agents are embracing, as a benefit, they are receiving settlement provisions that usually protect their cash flow.

The insurance company needs to be in the solution. The insurance company’s role includes providing the Public Adjuster with policy information needed for the resolution of the claim. In the event of a settlement, the insurance company has already been sued many times for fraudulent activity, they are aware of the risk and are aware of the public adjustments that the public adjuster can provide. That is why the Public Adjuster is asked to submit a final report and is asked to work with the insurance company on a claim settlement plan.