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Home / Insurance / Why Are Property Insurance Claims Underpaid and Independent Disaster Adjusters Leaving the Field? | Property Insurance Protection Law Blog

Why Are Property Insurance Claims Underpaid and Independent Disaster Adjusters Leaving the Field? | Property Insurance Protection Law Blog



The answer to this post is very complex. But I want to post an edited example that shows how claims handling by independent adjusters seems more concerned with satisfying the insurance company’s bottom line rather than properly adjusting the claim as required by law:

IN Do Independent Property Claims Adjusters Need More Legal Protection From Unethical Trustees? I noticed:

The property insurance industry is increasingly turning to independent adjusters rather than corporate adjusters. The number of independent adjusters calling, texting and literally confessing to me about unethical behavior has exploded in recent years. My thinking is that insurance companies hire independent adjusters and then put financial pressure on those entities to reduce claims. Insurance companies trying to meet their financial requirements will simply hire a competitor of the independent adjuster if these numbers are not met. These independent adjusters, in turn, allow their adjusters to place more emphasis on closing claims for less than what is owed—regulatory ethics requirements and good faith treatment be damned.

I think it’s important to remember that most states consider a property insurance claim to be one that involves the public trust.

When ethical adjusters cannot say that a damaged roof needs to be replaced because an insurance company has set unfair parameters for that decision, some adjusters will quit. When ethical adjusters cannot say that a damaged roof needs to be replaced and they are not fully paid for their independent remodeling work because the insurance company wants to underpay the policyholder and the independent adjuster, many more adjusters will quit.

Today’s thought

It is during our darkest moments that we must focus to see the light.

– Aristotle


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