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Headlines, News and Other Information
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Thursday, September 28, 2006 |
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| Comments |
 By
G. Buzzard @
Monday, October 02, 2006 11:01 PM
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The insurers are now playing games with public adjusters to try and scare them out of the industry, they just do not like insureds having any assistance at all. A public adjuster wrote a kitchen fire claim for $15,000 and the insured decided to agree to a lower settlement of $7,000. The insurance company had their SIU dept file a fraud case against the adjuster for "inflating the claim". I see deflation of the claim here, the public adjuster wrote a proper detailed estimate reflecting all the damage, the insurer cut the estimate and offered half what they owed. The insured was worn down and decided to settle rather then fight for what they were rightfully owed. The insurer profited $8,000 and then filed a fraud case. This should be a bad faith case against the insurer for deflation of the claim - defrauding the insured out of their rightfull claim settlement. A kitchen fire not only damaged the cabinets but would have smoked up the entire home causing soot / smoke damage throughout the home. All the necessary cleaning of building and contents items - $15,000 is low, the public adjuster should have written around $25,000 - $30,000 on that loss depending on the size of the home.
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By
RCoyle @
Tuesday, October 03, 2006 9:59 PM
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I wish I could decide what is owed on claims without looking at the damage. I'd be making some big, big $$ wouldn't I?
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By
oldsquid @
Saturday, October 07, 2006 3:41 PM
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That would be great - especially if I couldn't even read the article. $700.00 damage, not $7,000.00
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By
mdc @
Sunday, October 08, 2006 11:00 PM
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I have worked claims in Pennsylvania for over 10 years and have settled hundreds of claims with public adjusters. Yes, the PA does overwrite the damages and a good claims adjuster gets the claim settled for reality based damages. Unfortunately its is a game and we don't want to admit it. PA's file suit against the carriers all the time because they do not feel that they are getting paid enough (Paid enough means getting more than what the damages are valued at, along with their commission/percentage).
Maybe it is about time the carriers fire back and hold the PA's accountable for what they write.
Don't you think that when an insured hires a PA, that they hire th PA to get them more for the incurred damages.
The insured hired the PA to "advise and assist" in this matter and should also be accountable for the PA's actions.
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By
Dennis @
Wednesday, April 09, 2008 11:26 PM
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insurance companies are the real ones that are doing wrong. If you have never had a claim before u would never know how insurance companies try to nickel and dime u. public adjusters are doing a job to serve the public for there right. I never get why adjusters get such a bad rep when both doctors and lawyers also seek to profit off of a loss. U think doctors would be happy if everyone in the world was never sick? yaa OK good one. public adjusters are hired to get the homeowner paid adequetly> if there were no PA;s then it would be a one sided estimate and a one sided opinion. now how fair is that? you are an asset to an insurance company until you have a loss. once you have a loss then you are a liability. i have had 2 claims, one with out a pa then one with. I would always use a PA. I have to go on with my life and my job, and my paperwork needs to be handled, and what I learned was how can i know how much is enough. I didn't realize until I had to take 20,000 out of my pocket due to insufficient settlement. OPEN YOUR EYES PEOPLE INSURANCE COMPANIES ARE THE RICHEST COMPANIES IN THE WORLD!!!y jip urlsef of what you are entitled to!
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