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Study: State insurance licensing reciprocity benefits everyone

Source: insurancebusinessmag.com

A new study has found that the current system of licensing regulations for independent claims adjusters is causing more harm than help for the industry.

The study, entitled “Breaking Down Barriers” by Pacific Research Institute, found that the average claims adjuster holds between 10 and 12 different state licenses. This can set them back as much as $1,000 each. The study pointed out that these “costly, burdensome state requirements” make it more difficult for adjusters to operate across states, while driving up costs for consumers and limiting the opportunities for new adjusters.

At present, 34 states require independent adjusters to hold a license, the Association of Claims Professionals (ACP) reported.

Source: insurancebusinessmag.com 


Florida Hurricane Michael Claims Data

Source: Florida Office of Insurance Regulation

The Florida Office of Insurance Regulation is reporting a total of 78,688 claims as of October 18, 2018 with Total Estimated Insured Losses at $835,868,692.  See the report for additional details.

State Farm® to Conduct Drone Damage Assessment Flights Following Hurricane Michael

Source: State Farm 10-16 Press Release

It was less than one month ago when Hurricane Florence struck North and South Carolina. State Farm was the first and only insurance company to receive an FAA waiver allowing Claims pilots to operate drones beyond visual line of sight and over people for damage assessment. Drone flights were coordinated with the FAA and Mid-Atlantic Aviation Partnership (MAAP) at Virginia Tech as part of the Integration Pilot Program for large-scale damage assessment in Virginia and South Carolina.

CSU team decreases forecast, now calls for near-average 2018 Atlantic hurricane season

Source: Colorado State University

Colorado State University hurricane researchers have decreased their forecast from their early April prediction and now call for a near-average Atlantic hurricane season. The primary reason for this decrease is anomalous cooling in the tropical Atlantic.

The weak La Niña that occurred this past winter has dissipated, and there is the potential that a weak El Niño could develop by the peak of the Atlantic hurricane season (August-October). However, the forecast team believes that neutral ENSO (El Niño-Southern Oscillation) conditions are the most likely scenario for this year’s season. El Niño tends to increase upper-level westerly winds across the Caribbean into the tropical Atlantic, tearing apart hurricanes as they try to form.

The tropical Atlantic has anomalously cooled over the past two months and is now colder than normal. In addition to providing less fuel for tropical cyclone formation and intensification, cooler tropical Atlantic sea surface temperatures are associated with a more stable atmosphere as well as drier air, both of which suppress organized thunderstorm activity necessary for hurricane development. The far North Atlantic also remains colder than normal, potentially indicative of a negative phase of the Atlantic Multi-decadal Oscillation.

The above is from the article.  Click the title to read more.

 

 


FAQ

Listed below are some links to other blog post and articles on other sites.

Dimechimes ClaimSmentor Adjuster Information Blog 
 Organization Chart for the Claims Handling Blame Game- A Humorous Graph -A Serious Look at Claim Bad Faith Issues
 On the page the above link takes you to you will find links to some of her other articles at the end of the above article.
  

WHAT MAKES A GREAT CAT ADJUSTER?
Article written by John Postava
On the Ryze Claim Solutions webite

You can find additional post from John and Dimechimes in the CADO forums, they have made many post over the years contributing to the community by sharing their knowledge and experiance.

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