1. After a disaster, insureds have hundreds or even thousands of questions and worries. In a large-scale disaster, many of your local customers will be coming to YOU for answers. You may find yourself answering the phone every few minutes to address more questions and to resolve their fears. As an agent you will find it necessary to read the policy and then get back to the insured with their answers. You may find yourself at odds with the insurer if you add your own opinion or interpretation of the policy language and it differs from the insurer’s. This is an area where a public adjuster can add value since they will be the ones working directly with the insured and the insurer to address all coverage issues.

2. Customers who have suffered a loss are very emotional and upset. You will likely be the first one to receive a call informing you of their loss. Your customer will be in need of some immediate assistance and resources. Some of the things they will need are emergency services and temporary housing. Customers will also ask you to report their claim for them and will inquire as to the entire process. It is likely they will ask for a copy of their policy with a full explanation of their coverages. This is an important process that can be handled by a public insurance adjuster.

3. For the insured who experiences a disaster, working with numerous company adjusters, independent adjusters and contractors can be cumbersome, time-consuming and sometimes may even be infuriating. However, you as an independent agent want to stay neutral – you don’t want your customers yelling at you for decisions the insurer may be making and you certainly do not want your insurance company clients upset with you either. This can be a very challenging position to find yourself in. This is another reason why it makes sense to engage a public insurance adjuster – they are outside of the decision making process and will be an advocate for the insured.

4. Our experience in adjusting large losses and large scale disasters has shown there are a large number of insureds that are under-insured. This is usually the result of the insured shopping for the lowest rates and ending up with inadequate coverage limits. If your insured finds themselves under-insured, the natural thing for them to do is to point their finger at their agent and accuse them of not properly insuring them. Sometimes, a very skilled and astute public adjuster can find additional coverage within the policy to minimize the impact. When selling a policy I recommend the agent spend additional time with the insured to fully explain the coverages that may quickly reach or exceed limits in case of a large loss – such as personal property with the sublimits; additional structures; landscaping; and building code upgrade to name a few. A good public adjuster will look for all coverages within the policy with a goal of minimizing the effect of an under-insured situation.

5. During the entire claim process it is common for the insurer and insured to have differing opinions on a variety of issues. A professional public insurance adjuster will relieve the burden from the agent by answering and explaining coverages, processes, values and options available to them. In addition, the public adjuster will be able to obtain a value of the loss that is independent from the insurer’s. The goal of the public insurance adjuster is to pursue all coverage the insured is entitled to under the policy. Our experience has shown this is not always the same goal the insurer has. A professional public insurance adjuster can be a strong advocate for the insured and will work with the agent, insured and the insurer to resolve the claim expeditiously for its full value.

6. Remember a professional public insurance adjuster is the only adjuster that can represent the insured. The company adjuster and independent adjuster are only authorized to work for the insurer. If the customer does not engage a public insurance adjuster, then they will find themselves without their own representation – or will rely upon their agent to perform that work and you will quickly discover you have a second full-time job. It is an arduous and tenacious task to juggle all elements of a claim and one that should really be performed by someone that does this on a full-time basis.

If you help your customer pick a claims professional who understands the insurance claims business, adheres to a Professional Code of Ethics and has an excellent reputation, you will have done a great service for them.

Guidelines for How to Pick the Right Public Adjuster:

- They should be licensed in the state the loss occurs in

- A member of the National Association of Public Insurance Adjusters (NAPIA)

- Experienced with a range of disasters and has worked with many insurance companies

- Local knowledge of contractors, repair and remediation prices, building codes, etc.

- Knowledge of your insurance company – its top adjusters and claims handling processes and policies

- References from satisfied customers

http://www.qualityclaims.com

Ron Reitz is president of San Diego-based Quality Claims Management Corp., a nationally licensed public insurance adjuster, providing hazard claim recovery services to investors, mortgage servicers, homeowners and businesses. Earlier, he pioneered the national hazard insurance claims business of GMAC-RFC (now GMAC-ResCap). A CPPA (Certified Professional Public Adjuster), Mr. Reitz is Past President of the California Association of Public Insurance Adjusters as well as an Officer of the National Association of Public Insurance Adjusters (He will be President in 2012).

Advice on Personal Insurance & Commercial Insurance. Copyright ©. All Rights Reserved.

Even outside of the annual Hurricane and wildfire seasons, natural disasters, accidents and unfortunate events occur on a daily basis. Many of these catastrophic events result in damage to the mortgagor’s property. The mortgagor often elects to have professional representation and hires a public insurance adjuster. The adjuster contacts the mortgagee to inform them they have been hired by the mortgagor to resolve the insurance claim on their behalf.

Many mortgage servicers do not fully understand the role of a public adjuster. This article provides some basic information and answers a few common questions.

There are three types of insurance adjusters:

1) Company Adjuster – Works in-house for an insurance company and only represents the interests of the insurer.

2) Independent Adjuster – Performs field work and investigates claims for an insurer.

3) Public Insurance Adjuster – The only type of adjuster licensed to work solely on behalf of the insured.

A public insurance adjuster will review all policies in effect to evaluate coverages and calculate the amount of loss. The claim will be presented to the insurer and eventually settled. Sometimes there is a difference of opinion between the insurer and the insured on the claim amount owed. The public adjuster will strongly advocate for the insured.

How does the PA interact with the mortgage servicer?

Since the insured has certain duties under the terms of the policy, they often rely on a public adjuster to assist them in identifying and completing those duties. For example, the insured must notify their mortgage servicer of their loss and will be required by the servicer to complete certain forms and provide claim-related documents.

When loss drafts are issued for building damage, the name of the insured/borrower, the PA and mortgagee should be included. The public adjuster and the borrower will endorse the checks and forward them to the servicer. The servicer then places the insurance proceeds into a restricted escrow account. Funds will be released from the account based on the loan status and specific language in the Deed of Trust.

Most often the PA will charge a percentage of the claim amount and will expect to be paid their percentage from each check that is issued. This is where some of the challenges may arise.

Additional tips:

1) In order for the insured (borrower) to retain a public adjuster they must sign a contract with the public adjuster and it should spell out any fees being charged. Servicers should obtain a copy of this agreement as well as a document, signed by the insured (their borrower), authorizing the public adjuster to communicate with the servicer. It should spell out the nature of their relationship and what types of information the public adjuster can obtain (if any) about the loan.

2) While dealing with damages to their property, many borrowers will experience a temporary inability to pay their mortgage. This is an excellent opportunity to refer the insured to the servicer’s loss mitigation unit to assist the borrower during this period.

3) How does the public adjuster get paid if the servicer does not release the proceeds?

a. It is the insured’s obligation to pay the public adjuster. They can pay them from other proceeds – such as from the personal property claim.

b. Servicers should obtain authorization from the insured before making any payments to the public adjuster.

c. Courts have held that a PA has an equitable lien on the insurance proceeds for their fee. If a borrower retains a PA and then eventually loses their property to foreclosure, the mortgagee is still obligated to pay the public adjuster’s fees.

4) What if the proceeds are not sufficient to repair the property?

a. Is the PA pursuing additional proceeds?

b. What is the reason for the difference?

c. Is the PA contemplating referring the claim to an appraiser (for an independent valuation of the claim)?

d. Has counsel been retained?

5) Be on the lookout for PAs that are heavily involved in the repair process. In some states, if a public adjuster has handled a claim on a property they are prohibited from also repairing the same property, or having a financial interest in the repair, due to a conflict of interest. The servicer should make sure the property is inspected at each stage of repair, and ensure that the borrower documents their satisfaction with the repairs, to prevent problems down the road.

6) What if the public adjuster refuses to endorse the settlement check and send it to the mortgagee?

a. The mortgagee should be in direct communication with the insured and public adjuster. If necessary, the mortgagee can ask the insurer to interplead the funds and ask the court to assist in resolution.

7) Is the mortgagee advised to cooperate with the public adjuster? Yes.

a. As the representative of the borrower, the adjuster is the most knowledgeable about the claim and in the best position to keep the mortgagee informed.

b. If the mortgagee finds the public adjuster to be non-cooperative or hostile they can reach out to the borrower to resolve whatever issue is at hand.

Who regulates public adjusters?

a. Public Insurance Adjusters are currently regulated in 46 states by each state’s Department of Insurance – or its equivalent. There are only a handful of states that do not require licensing.

b. Some states have fee caps regulating the amount a PA can charge for their services. You may want to make sure your borrower is aware of this.

c. As of the date of this article, three states, Alabama, Arkansas and Alaska, do not allow PAs to charge any fees and do not recognize PAs.

9) What are some of the things a servicer can do to check the background of the PA?

a. Licensing status can be verified on most state’s Department of Insurance website, in the state where the loss occurred in. This verification is made easier by asking the public adjuster for their license number.

b. Servicers can determine if the PA belongs to any professional trade association. The most reputable and oldest trade association is the National Association of Public Insurance Adjusters NAPIA has a strict Code of Ethics that members must comply with. Additionally, NAPIA has minimum educational requirements that must be met.

Public Adjusters provide valuable services by assisting the insured in correctly valuing, adjusting and settling their claim. As the only licensed advocates of the insured, they should be considered a valuable resource in time of need. Maximizing the insurance settlement benefits the mortgagee as well as the borrower. Like all professions, not all PAs are created equal. If you encounter a public adjuster that seems to be a problem consider contacting their state insurance regulatory authority for assistance.

Ron Reitz is president of San Diego-based Quality Claims Management Corp., a nationally licensed public insurance adjuster, providing hazard claim recovery services to investors, mortgage servicers, homeowners and businesses. Earlier, he pioneered the national hazard insurance claims business of GMAC-RFC (now GMAC-ResCap). He is the past president of the California Association of Public Insurance Adjusters and currently serves on the board of the National Association of Public Insurance Adjusters. Contact Quality Claims Management at (866) 45-1183 or http://www.qualityclaims.com.

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WASHINGTON, DC, April 16, 2009 – The American Insurance Association (AIA) today expressed its strong opposition to H.B. 1657 which seeks to overturn a recent unanimous decision by the Texas Supreme Court. In 2008, the Texas Supreme Court held in Entergy v. Summers that a premises owner may provide workers’ compensation insurance for an entire jobsite, and therefore be protected from third-party lawsuits. H.B. 1657 would expose premises owners to third-party lawsuits, serve as a disincentive for jobsite owners to provide workers’ compensation insurance and will lead to increased litigation and construction costs.

“We are very concerned about this legislative attempt to overturn a well reasoned decision by the Texas Supreme Court,” said John Marlow, assistant vice president for AIA’s Southwest Region. “Under current law, injured workers are able to obtain fair compensation for a workplace injury from an employer who carries workers’ compensation coverage without proof of fault in a court of law. H.B. 1657 will force injured workers to go to court to prove fault for their injury before receiving appropriate compensation for medical care and lost wages,” Mr. Marlow said.

H.B. 1657 seeks to undermine the Texas workers’ compensation system by eliminating tort immunity for owners of a jobsite, currently accorded “statutory employer” status by virtue of the Entergy decision, and by fostering third-party lawsuits. Like many states at the turn of the 20th Century, Texas’ workers’ compensation laws were adopted to provide speedy and just compensation to injured workers because the reliance on a common law tort system was found to be an exceedingly inadequate method of resolving these claims. Texas is unique, however, in declining to make workers’ compensation a mandatory requirement for employers.

“If enacted, HB 1657 would generate more litigation while raising the cost of construction and create impediments to securing compensation for injured workers,” said Mr. Marlow. “Texas’ workers and the state’s workers’ compensation system will be best served if “statutory employer” provisions affirmed in the Entergy case remain in place,” concluded Mr. Marlow.

H.B. 1657 passed out of the House Business and Industry Committee on April 14, 2009 and is now pending before the House Calendars Committee. AIA has joined a broad coalition of the business community to urge committee members to not advance the bill further.

# # #

The American Insurance Association represents approx 350 major insurance companies of all lines of property and casualty insurance. Collectively they write $123+ billion in annual premiums. The association is based in Washington, D.C., with representatives in each state.

Advice on Personal Insurance & Commercial Insurance. Copyright ©. All Rights Reserved.

Then, in 2008, Taxes insurers were force to pay out on one of the most destructive hurricanes in state history, i.e. hurricane Ike hitting Galveston and Houston, the Texas Department of Insurance reported. The damage and insurance cost of this hurricane caused that insurance loss ratio to skyrocket to 127%. This ratio was also influenced by insurance costs of the hail storms in Northern Texas and Hurricane Dolly in Southern Texas, both 2008.

The Dallas Morning News today highlights that the findings of the Texas Department of Insurance were released at a time when lawmakers are considering changes to the insurance regulatory system, which consumer groups say currently enables insurers to charge residents some of the highest premiums in the nation and allows insurers to reap hefty profits.

However, the Insurance Council of Texas points out, “We have our good years, and then we have our storm-plagued years. We can be thankful that Texas had a string of good years prior to 2008 so that the industry was able to meet its financial obligations in the aftermath of the weather-related catastrophes.”

Texas Watch contends that the loss figures may be overstated given that combined loss and expense ratios depict insurers with “bloated overhead expenses,” which can include large CEO salaries and agent commissions. Texas Insurance Commissioner Mike Geeslin says that the cumulative loss ratio between 2002 and 2008 was just above 58 percent, which is right in the middle of where insurers want to be in order to remain profitable.

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San Francisco, CA ~ Exigen Insurance Solutions, the IT 2.0 provider specializing in rapid implementation of new business initiatives and products for insurance, today announced it is one of seven vendors named to Forrester Research’s “Hot Insurance Tech Companies to Watch in 2009” report.*

“As the insurance industry transforms itself, Forrester has seen new solutions emerge to address the changing needs of insurance technologists and business leaders,” stated report author and Forrester senior analyst Ellen Carney. “These companies are noteworthy because of their inventive approaches and solutions that address new models for insurance IT operations; they offer a solution for an overlooked segment, or they offer technology innovations that drive insurer profitability.”

“Along with accelerating time to market (and revenue), Exigen’s agile SOA platform and forthcoming Insurance Technology Utility (ITU) also increases the efficiency of the insurer’s people and technology resources. Insurance employees and agents get a unified, role-based workspace that leverages all that data residing in multiple insurance silos,” wrote Carney.

“The Exigen Insurance team is very pleased to be named to Forrester’s 2009 Hot Insurance Tech Companies list because it recognizes our commitment to continuous product development using the most up-to-date technology innovation,’ said Gwen Spertell, chief executive officer, Exigen Insurance Solutions. “This approach assures our customers that they have best-of-breed tools to reduce overall IT costs, get products rapidly to market and deliver market-differentiating levels of customer and broker service.”

* A full copy of the report can be viewed or downloaded, when subscribing to our BeSafeInsure.com newsletter

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Farm Bureau Insurance presents awards to these top male and female athlete in each ODAC-sponsored sport, applauding the commitment and desire each has shown towards collegiate excellence. The program culminates each spring when the conference names its top male and female athlete.

“We believe true achievement involves success gained through hard work and education,” says Matt Smith, marketing director at Virginia Farm Bureau. “Those are bedrocks of a bright future and we are proud to help recognize the excellence of intelligent and talented young people through this partnership.”

The 2008-09 Fall sports winners have been selected. They are:

Rebecca Leedom, Virginia Wesleyan (Volleyball)
Anne Van Devender, Washington and Lee (Women’s Soccer)
Chris Thomas, Bridgewater (Men’s Soccer)
Nick Olivero, Catholic University (Football)
Kristina Landis, Eastern Mennonite (Field Hockey)
Becca Taylor, Washington and Lee (Women’s Cross Country)
Michael Welsh, Washington and Lee (Men’s Cross Country)

The sport awards are selected by the Sports Information Director of each member institution. In order to be eligible, the student-athlete must have a cumulative 3.2 grade point average and have reached sophomore athletic and academic standing at his/her institution.

“We are proud of the accomplishments of every one of our student-athletes,” says ODAC commissioner Brad Bankston. “It is especially gratifying to be able to recognize those who personify the definition of ‘student-athlete’ through these awards, and we are proud to be affiliated with Virginia Farm Bureau Insurance in this program.”

The ODAC Board of Directors created the sport-by-sport scholar-athlete awards prior to the start of the 2003-04 academic year. The conference sports information directors have selected these honors since their inception, maintaining an equitable balance of emphasis between athletic prowess and academic achievement. Inaugurated in 1984 and 1981, respectively, the Marjorie Berkley and Harry G. “Doc” Jopson Scholar-Athlete Awards are given each May to member college seniors and conference sport participants who exhibit the highest athletic, academic, and extracurricular achievements.

In 2008, Bridgewater College’s Jeff Highfill and Washington and Lee University senior Nathaniel James shared the league’s top male student-athlete honor. The top female student-athlete was Lauren Askey, a Lynchburg College senior.

ODAC Purpose
Entering its 34th year, the Old Dominion Athletic Conference (ODAC) is one of the nation’s largest Division III conferences. The 14-member ODAC, including Catholic’s associate status, stands as the second-largest multi-sport NCAA Division III conference in the country behind the 15-member American Southwest Conference in Texas. Athletic opportunities at the Division III level provide positive educational outcomes and growth for participants, as well as other valuable benefits for member institutions and communities. The Old Dominion Athletic Conference (ODAC) exists to provide a framework for realizing these opportunities through athletic competition, guided by our commitment to shared values and bounded by the educational missions and institutional identities of the respective members. Together, member institutions strive to foster a climate of excellence and integrity in the conduct of their athletic programs. For more information about ODAC programs and members, please visit the ODAC on the web at www.odaconline.com .

About Farm Bureau Insurance
Virginia Farm Bureau Insurance is committed to providing products that best meet the insurance needs of Virginia’s families and small businesses. An organization with more than 148,000 members, served by more than 100 county offices throughout the Commonwealth, Farm Bureau Insurance also offers a wide range of financial planning products and services. FarmBureauAdvantage.com.

© copyright 2009 ~ BeSafeInsure.com – all rights reserved

Advice on Personal Insurance & Commercial Insurance. Copyright ©. All Rights Reserved.

First, Geico began to sell car insurance in the mid-1930s. The company offered quality insurance premiums to its customers, and by 1964 had sold over 1 million policies. Although the company took a downswing briefly in the 1970s, and slow but steady expansion during the next 20 years, today this company provides premium coverage to more auto owners in New York, Hawaii, and Maryland, as well as the District of Columbia, than any other company.

Today, Geico offers insurance policies for a wide variety of needs, including homeowner and rental policies, recreational vehicle and boat coverage, and life insurance coverage. All of these are easily available through the company’s well-designed, highly navigable website. Each type of coverage is clearly detailed and easily located.

This company also has an excellent reputation for customer service and satisfaction. In recent years, Geico was the recipient of the Webby Award, which offers international recognition to websites that provide exceptional customer satisfaction. Currently, it is rated as the top property casualty insurer and the most desired insurer by customers.

Another public service offered by Geico is the National Safety Belt Poster Contest. Elementary and secondary school students compete to illustrate the message that seat belts and safety seats are the most effective safety devices in cars. This commitment to saving lives through public service messages has also earned the company deserved customer recognition.

Geico has also made significant efforts to develop a fast, friendly customer claims service. Customer claims can be reported immediately after occurrence on the company website. Detailed instructions are available for the process. Customer information and claims service is also available by telephone.

Geico policy quotes can be accessed online through the company’s website, or through individual agents. The ease of navigation and coherence in design, however, make the website a very attractive alternative to spending time on the telephone talking to insurance agents. Just be prepared with the details of your coverage needs, and answer the questions as the website prompts.

One of the most affordable insurance alternatives on the market, a Geico car insurance quote can indeed save you money. Laugh at the commercials, but believe the cavemen and the lizard – this company is definitely worth considering if you are interested in saving money and enjoying high-quality car insurance.

By Adam Hefner

About the author

http://www.Auto-Insurance-101.info is a website fully dedicated to giving you the very best information regarding auto insurance. Whether you’re suffering from finding reasonable rates and you’d like to know your options with a Geico car Insurance quote, or you simply want to know the advantages of buying online car insurance, we’ve got you covered!

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State Farm wants you to take the time to prepare your family and home for the possibility of a tornado or severe storm. The best thing to do is arm yourself with information and develop a plan for when weather turns dangerous.

Tornado Preparedness

* Learn the warning signals used in your community. If a siren sounds, that means stay inside and take cover.
* Consider setting up a neighborhood information program through a club, church group or community group. Hold briefings on safety procedures. Set up a system to make sure senior citizens and shut-ins are alerted if there is a tornado warning.
* Put together an emergency storm kit including a portable radio, flashlight, batteries, bottled water and simple first-aid items.
* Conduct drills with your family in the home; make sure each member knows the correct procedures if they are at work or school when a tornado hits.
* Make a complete inventory of your possessions for insurance purposes.