Public adjusting, although extant in other provinces, is a critical and increasingly prevalent part of the claims process in Florida. New licensing rules and regulations have arisen for Florida public adjusters and the route to licensure is going to become quite tough in February
2009. Individuals interested in public adjusting in Florida should strongly consider obtaining their license before regulations make it prohibitively difficult to do so. Follow the following guidelines to become a licensed and compliant PA in Florida before February '09: What Public Adjusters Do Initially, let us be clear on what public adjusters do. According to Section 626.854 of Florida Statutes, a public adjuster is “any person, except an attorney, who, for cash or any thing of worth (which would include securing a contract for repairs):
1) Prepares, completes or files an insurance claim form for an insured. 2) Aids in any fashion on behalf of an insured in negotiating for or effecting the settlement of a claim. 3) Advertises or solicits for employment as an adjuster of such claims.”
Thus contractors that are trying to help policyholders with their claim may be doing so illegally. Individuals in violation are subject to arrest and may even be charged with third degree felony as prescribed by Section 626.8738 of Florida Statues. Obtaining the insurance adjuster license is the surest way of staying in conformity.
How exactly to Acquire the License With that in mind, Florida Department of Financial Services mandates that private adjuster pass the state adjuster examination before successfully applying for the 3-20 All-Lines PA license. This assessment can be tough with an exceptionally low percentage of unstudied test takers passing. Exam prep courses, designed particularly for passing the exam, can radically increase the chances of success. Contact the Florida Department of Monetary Services to schedule your exam. As soon as you have passed the state exam you will be able to successfully apply for some of the following licenses:
o 3-20 AllLines o 3-21 Motor Vehicle Physical Damage and Mechanical Breakdown o 3-24 Workers' Compensation o 3-40 Health o 3-44 Property and Casualty
Keeping your Permit in Conformity Public adjusters got to keep a 50k bond. In addition, 24 hours of Continuing Education with 2 hours of ethics are needed every two years. After February 2009, these rules may be subject to change so be sure check with the Florida Department of Monetary Services to stay present with PA compliance issues.
When residents or businesses file insurance claims, many of them don't comprehend the number of work required. This leaves the consumer with one of two alternatives: 1) Hire a public insurance adjuster, or 2) rely on their insurer's adjuster to right by them. Alternative two might be similar to letting your wife's lawyer make your decisions in a bitter divorce settlement. In the following paragraphs, we will explain why hiring a public adjuster is the better option.
What Does A Public Adjuster Do? These adjusters are professionals hired by a homeowner or business to assess and handle damages/losses that ought to be covered by an insurance policy. They manage the settlement of insurance claims on behalf of their clients to ensure appropriate reimbursement is received, and nothing is left unchecked. In addition, they're particularly useful when the insurance provider is disputing your claim. The main difference between a public adjuster and the adjuster that is supplied by your insurance carrier is where the loyalty lies. A company adjuster works for the insurance company to minimize payouts of insurance claims, or perhaps to refuse them as often as possible. In the other hand, public adjusters work on behalf of the policyholders and try to reach the maximum possible settlement for their clients
After thorough evaluation, variables are weighed against the assessed damage and a claim is formed. Since public adjusters go through the same training and licensing as company adjusters, they understand the vital issues these company workers will be searching for. In several cases, they're going to negotiate with the insurance company for a higher payout. Their work is generally over when the claim is settled, but public adjusters will also assist in refiling the claim if additional damages are discovered Get More Info.