Property Claims Regulator – What They Do

This professional is the person who processes insurance claims to determine whether the insured qualifies for a payment. Many property claims appraisers work for insurance companies, and there will be those who investigate claims related to homes, businesses, vehicles, and other insured properties. To begin the process, the assessor will speak with the claimant to determine the cause of the damage. When a legitimate insurance claim is made, the adjuster must calculate the cost of replacing or repairing the damaged property.

There aren’t many university courses specifically designed for those who want to enter this field. When an insurance company hires a new property claims appraiser, they will usually look for people with prior experience in the insurance industry or with a legal work history. Working hours are often irregular. One of the reasons this is so is because they need to investigate if an accident does happen, it can happen at any time of the day or night.

In an insurance agency, they are called staff adjusters. They will meet with the person making the claim, along with any witnesses, to find out the cause of the damage. If a report has been submitted, the regulator may also obtain a police report to help verify the claim. For injury claims, they may also request medical records to substantiate the claim. Another responsibility of the property claims adjuster is to determine whether the insurer has a liability to pay compensation. After the investigation is complete, the adjuster will negotiate with the plaintiff until both parties reach a satisfactory agreement.

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Some property claims adjusters also work independently for insurance companies on a contract basis, but are considered self-employed. Often times an insurance company does not require the services of an adjuster full time, so they hire someone when needed. It’s cheaper to hire them when needed. When the self-employed adjuster will defend the interests of the party hiring them. They usually work for several clients over a long period of time.

If you are an individual or business, you can hire an independent property claims adjuster to help represent your cases to insurance companies. Self-employed people will do the same job as those employed by an insurance agent, with the only difference being that they look for evidence supporting the plaintiff who hired them. It is their job to prove and disprove the claim. The independent adjuster usually gets a percentage of the insurance deal.

About Lily Hammond

I have been working as an insurance consultant in my own insurance agency since 1998. Because I've been doing this for so long, I know every detail and I'm here to help you. You can find my e-mail address and work phone on the contact page.

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