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Last Post 10/12/2009 7:00 AM by jdacree

Carrier certification

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jdacree

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Posts:161

10/11/2009 3:45 PM
Would it be possible, or worth the effort to create a new topic for Adjusters, new or experienced, that are studying for carrier certification(s)? I have found a wealth of valuable comment scattered throughout these forums on various carrier certifications, but they are difficult to assemble in a manner that makes for productive studying. Or is there a methodolgy contained within this journal application to move, or cut and copy into a centralized file information of this nature? I currently have just been adding these good threads to my topics so that I can find them again. If there is a way to centralize, I would be glad to move mine and continue to move those comments to that area as I find them. Thanks Jim Acree Stupidity is the art of not trying to learn Ignorance is the lack of opportunity to learn I am ignorant

jdacree

Member
Posts:161

10/12/2009 6:56 AM
A property insurance policy provision that authorizes the insurer to make a loss payment to a person (loss payee) other than the insured to the extent that the loss payee has an insurable interest in the property. Such as a contractor in process of repairs or completion and possibly a Public Adjuster, provided both have loss payee contracts signed and witnessed/notarized. This is to provide protection for anyone who has a signed contract of adhesion, thus having an insurable interest in the property. This, of course, is up to the carrier to determine insurable interest and whether to place a loss payee on an instrument of payment. Copy paste from Tom Toll Commericial Policies. Jim Acree Stupidity is the art of not trying to learn Ignorance is the lack of opportunity to learn I am ignorant

jdacree

Member
Posts:161

10/12/2009 7:00 AM
The answer to the Loss Payee Question , is who ,what is a loss payee. A Loss Payee is someone who is not an insured or a mortgagee who has secured a document from the insured to pay proceeds direct to loss payee from an insured loss for work or services already performed. ie: glass contractor, board up, electrician, A/C contractor, fire department. This information would not be on the dec. sheet, but should be known to the adjuster who probably authorized the charges. Copy paste frro Ray Hall Commericial Policies Jim Acree Stupidity is the art of not trying to learn Ignorance is the lack of opportunity to learn I am ignorant

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