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Last Post 01/05/2010 4:46 PM by  Medulus
One of my mentee,s
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Ray Hall
Posts:2443


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12/23/2009 6:59 PM

    Got a Merry Christmas phone call from a man I met in 2004. He was a natural winner. Retired Lt. Commander Navy Pilot. Will work close to 1000 losses this year for SF/Renfro

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    Olegred
    Advanced Member
    Advanced Member
    Posts:363


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    12/24/2009 10:40 PM
    He's legging behind.
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    Ray Hall
    Posts:2443


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    12/26/2009 11:18 AM

    Thats the only good story I have. I have been a mentor to about 60 people since 2004 and only 3 are making a modest living out of catastrophe adjusting. Remember it takes thousands and thousands of claims to get every one with a license working and these type storms. They do not come along very often. If you do not work wind/hail roofs claims EVER year you will starve out.

    If you do not work for one of the State Farm, Allstate, Farmers, USAA vendors you will starve UNLESS you have carrier experience and have contacts as a storm adjuster.   My .02 after watching the cat. business for 50 years.

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    Bobabooey
    Member
    Member
    Posts:140


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    12/28/2009 10:37 AM
    Ray, I know you could write an entire book on the question I am going to ask you. But, what are the most significant changes you have seen in this business in your long career?
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    Ray Hall
    Posts:2443


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    12/28/2009 2:57 PM

    I will try to answer this question by talking only about catastrophe adjusting claims  First major change in the last fify years is the vendor system. A person who works catastrophe claims should never work for a vendor that does not pay 2 times a month on good closed files turning in by cut off  date. Read the contract "before you go". I would also not go unless the vendor provided GL & E & O. (allow the vendor to subtract cost from your %)  About 1%.

    Best changes I have seen in fifty years.

    1.Diagrams of roofs and rooms with measurenets to stop this argument. The standard birdseye measurement with waste factor allowed.

    2.Software programs with unit prices as accurate as possible for the Zip Code.

    3.The vendor system insulates the carrier from labor problems and overhead

    4.Allows millions of claims to settled in the fastest possible time frame, good image for insurance carriers.

    5 Allows people with very short training time to do a passing job as "temporary adjusters"

    6. Allows "stick to the wall losses to closed with a payment of the adjusters estimate.

    7.Allows clean up crews to rework and settle number 6 above.

    Areas of improvement that can be made by carriers.

    1. Sorm losses are paid and closed without an agreement on the scope or amount of cost for repairs with the insured or contractor.

    2.Inexperienced people who are over their head.

    3. Tag team adjusters.

    4 Intentional over scope(payment) of some losses for several reasons.

    5.Not enough attention to getting the actual damage cost as accurate as possible to reduce hazard insurance cost.

    6. Seek out the % of "crooks" in the vendor and street adjuster community and eliminate.

    7. Have overhead and profit in the unit price and do not allow any other other allowance to GC's UNLESS the entire estimate is on cost plus O & H.This will stop all the . when to's and class action lawsuits. Auto's have been repaired on flat rate prices for the last 50 years.

     

     

     

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    Olegred
    Advanced Member
    Advanced Member
    Posts:363


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    12/30/2009 11:00 AM
    tag team adjusters - what are those?
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    Ray Hall
    Posts:2443


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    12/30/2009 1:11 PM

    This would be a good time for people like Olegred to share what they do to "make it" in the first 18 months. I recall my first 18 months as a catastrophe adjuster full time in 1994 was also very good. I had been on storm duty many times as a staff and IA before 1994, but had never thought of the job as a life time job, still don,t for that matter, just something to get me over some hump in my life.

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    Ray Hall
    Posts:2443


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    12/30/2009 1:50 PM
    This is something that I have been thinking about for about 5 years. FICUS TREE. I think we all realize it does not take much training to estimate storm damage. We also realize a Texas license can be obtained on line or in a class that last about 30 hours.

    Some carriers are going this way and more will go this way IF the carriers can reduce cost per file to close a cat. file AND close more files faster in a more uniform template. I can train a limit of15 people in 5 days with a place to sleep, eat for $100.00 per day or a total of $500. I will take a note for $250.00 and $250 up front. The experienced adjusters will pay me an additional $500.00 when they ask these FICUS to deploy to a storm site with a TX. License and 5 days scoping actual buildings for wind and/or flood damage. I have actual dwellings in Liberty County, TX to inspect, photo, scope and estimate.

    Traders Training System- TX. Ce credits applied for.rhtayhall@gmail,com
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    jamiewisecup
    Guest
    Guest
    Posts:5


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    01/04/2010 9:19 PM

    Hi Ray,

    I am curious as to what you mean by the experienced adjuster will pay 500.00 when deployed. Do you mean when your trainees are set up with them an an actual storm?

    I am not exactly inexperienced but have tons to learn still. I am located near Lake Livingston, where in Liberty county are you?

    JamieWisecup

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    Medulus
    Moderator
    Senior Member
    Senior Member
    Posts:786


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    01/05/2010 4:46 PM
    Oh, no! Jamie, please don't tell me you just asked Ray to explain the FICUS tree!
    Steve Ebner CPCU AIC AMIM

    "With great power comes great responsibility." (Stanley Martin Lieber, Amazing Fantasy # 15 August 1962)
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