Ray Hall Senior Member Posts:2443  
| 06/22/2010 4:53 PM |
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I have been seeing more and more of these post since 2005. Its a good place to make a decent living, but not 100% of the people who try succeed. The present system is a vendor(contractor) stands between you and the insurance company who is the person that needs your work product. You will need about 60 days training to do a passable job. many people have gone further with less, but they got over their head and had someone to pull them out. All the people or rather closed mouth about who they work for and how they got the job, for reasons you have seen in your other jobs that are very competitive. Most of us have an opine it takes five years of training by an insurance company as an annual salary person, with a car, gas card, small expense account, all the files you can juggle in one day and all the ice water you can drink + 2 weeks vacation after one year and other perks around $28,000 to start and the brightest at about $55,000 at the end of five years. About the only thing that your old job, that you bring to the table would be residence l construction . Contract and tort law would be a plus, A BBA. MBA, CPA would be a real plus. All the rest can be learned. A person that is very very computer savey is a big plus.
When you get your license all this really means is: You have enough want too, to get a license, as the vendors will not talk to you until you get a license. If you get put on during a major catastrophe this is some common law defense they can plead if you are sued. He/she had a license. The problem with this is the other side will call someone like me to discredit you. an adjusters license in TX. or Florida license does make this person qualified, and its a question the jury will decide.
Try to train yourself in some manner by reading, practice, apprentice, helper, part of a team, Do you have $125.00 per day for 60 days training ? You have some common law liability exposure to each person, you introduce your self to as "your insurance adjuster". This is 480 hours total or 12 weeks @40 hrs. Please try to get some OTJ now and do not expect pay. You should pay the other person.
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Ray HallSenior Member Posts:2443
| 06/22/2010 5:17 PM |
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On Monday morning the TV attorneys in the gulf coast of Tx. started the new adds that 9/13/2010 was the dead line for filing Ike claims (suits) These old Ike claims are being settled for more than $100,000 each after suit is filed and the first notice is the lawsuit. The TX supreme court has now ruled 22 month after Ike you have waived your right to demand appraisal if the demand is not made at the time the insured does not agree with the first offer. ( How does the adjuster know the insured does not agree, unless you ask;" are you completey happy with this first settlement offer". If the suit papers are the first notice that the carrier has this file is in the hands of a TV lawyer who brought suit for 3 times the policy limits. the carrier has waived the demand for appraisal if its not made in writing in 6 days after the service. More reopens this year, and all the years to come. The lawyers on both sides get richer and the top adjusters will have year around work, just on reopens. Are you qualified? hmmm.
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| 06/25/2010 12:50 PM |
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Dear Ray:
Thank you, for the advice regarding what one needs to sacrifice in order to become an adjuster. Maybe you are right; a new individual should pay $125 dollars a day to some one who’s been processing claims for 10 years. I would pay someone to teach me these skills hands on; processing claims from start to finish. I have 15 years of construction experience, I have completed several reputable adjuster courses, I’m licensed in 6 tier one states. I practice on my own Xactimate program.
Unfortunately it seems these step are not sufficient enough for a carrier.
My question is this; what would an adjuster be willing to sacrifice to in order to have an apprentice/contractor who has 15 years experience rebuilding homes, who has a credible track record, who knows building components, who’s willing to wade through mud to hold a tape measure, who’s willing to pay their own overhead expense, who’s also willing to leave their family back at home in order to get their foot in the adjusting door.
Who has the patience to learn, listen and help!
There are thousands of Adjusting schools willing to take your money with just a promise to teach you the right things. There are many contractors who think they can become an adjuster because they know building components. Trust is a huge issue in trying to start any career. I believe an experienced adjuster and an experienced contractor working together would learn from each other and in turn make a successful adjusting team.
Continued Success,
Respectfully,
Bill Ferrie |
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claims_ray Member Posts:293
| 06/26/2010 4:12 PM |
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What does the WORKING ADJUSTER have to gain from this alliance? The adjuster is already employed as an adjuster and can only be delayed in their process with explanations of procedures. The benifit to an experienced contractor looking to break into adjusting is obvious.
There may be a benefit to an adjuster with a small knowledge of building procedures but probably not to an adjuster that has been working for more than 10yrs or has handled thousands to tens of thousands of claims. Is the benefit greater than the time lost from explaination? This is something that each would need to decide for themselves but for some to berate adjusters on this forum for placing a dollar amount on their time and experience is BS. I mean schools place costs on teaching why can't an adjuster performing the same task in a field environment instead of a classroom?
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carribbeandreams2004 Guest Posts:7
| 07/12/2010 2:52 AM |
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I am going to become a liability adjuster. Why? Because I got 20 years of policy experience and do NOT have to learn too many new things. I already know coverage. Now I just need to know that part of the law required for me to do my job. Plus if I canot get an adjuster job I will just go work as a paralegal for a plaintiff's attorney. Screw waiting 5 years for a property adjuster job.
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Ray HallSenior Member Posts:2443
| 07/13/2010 6:45 PM |
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Nothing wrong with working for a plaintiff attorney, you will have to work for an IA that has lots of auto crash biz. Try to get on with the truck accident chasers, this is a good stepping stone.
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| 08/04/2010 5:03 PM |
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I went to work for an independent adjuster when I was starting my junior year in college. He owned a very small company and he was a magmificent teacher. I scheduled my classes in the morning and reported to him after lunch. He would take the time to explain the facts in each file, coverage and coverage issues, etc. It was a combination of W.C., auto liab. and phys. dam., G.L., contractual issues, risk transfer, how to take a statement, how to deal with lawyers, etc. It took me another 2 1/2 yrs. to graduate but I had learned so much that I was hired by a major company before I had graduated. I was so far ahead of my peers that I was given more money and complex files. I eventually moved into marketing and risk management. If I had it to do over again, I wouldn't change a thing!
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Ray HallSenior Member Posts:2443
| 08/05/2010 12:21 AM |
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Barneym, I admire your taking the right approach to become a professional adjuster. I would like another person to cover my back and would you please reply. Could you have learned dwelling property windstorm losses only in less than two weeks, really more like 40 hours of class room for license, scoping and writing estimates on a complex estimating program. And what was your first program.
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| 08/05/2010 11:09 AM |
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Ray:
I am 73 years old. Fortunately, I am still of sound mind and health. I have never had retirement in my vocabulary. Somehow the Good Lord instilled in me a strong work ethic. When I began my adjusting in college, it was in the days well before there were such things as 'Learning Centers". adult education, programs, etc. Insurance companies did not have classroom programs to train adjusters. It was more of OJT. You were fortunate if you could identify a "Mentor" and learn from "him". And I do mean "him", since there were no female claims people. Unfortunately, I was never trained in property adjusting. I did some work for an independent in New Orleans following hurricane "Betsy" in 1965. Back then. it was really more a process of moving as quickly as possible from one claim to the next. As I recall, the system I used was 1- verify coverage, 2- inspect the damage, 3- Estimate the damage (never climbed a roof), 4- write a check if it was within my authority (or recommend payment if it was above). In the following years, I developed an interest in ocean marine, cargo, aviation, energy, and construction. I became an agent/ broker and wrote much business in Louisiana and Mississippi. I assisted my clients by being personally involved in their claims. Today, I have an insurance recruiting practice but have an emotional desire to be involved in the BP claims process. I know a lot about business interruption as well as the various types of coverages that have been triggered by the disaster. Unfortunately, my lack of property adjusting may be working against me. I am signed up to take a 2 day Xactimate couse in a couple of weeks. Could use some advice in connection with my comments. |
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Ray HallSenior Member Posts:2443
| 08/05/2010 4:32 PM |
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Barney drine up to Coventon with your background, you shoulod be the last one to go. You dont need xmate. You are working 3rf party liability claims , just like onld BI claims. I wish I knew some one at Worley. It may be late in the game, but its only half time now and the defense is rested if you know what I mean.We know a lot of the good old brokers. like Southern Marine and Avaition, Cravens Dargan, The small office down in the french quarter. man that wasw the good olod says for me. kasted 4 years O &G claims in the USA, and this country boy would fly into town. i was in NOLA for 7 months on Betsy. I made Timberline a million or more buy taking off the slate on the old tenant houses and taking it over to St. Charles. No kickbacks "thats what 3 D was called back in 1965 , looked good also. look me up we could talk for days, but trat me with respect as I could be your older brother.
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| 08/05/2010 6:33 PM |
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Ray:
Sent my info. to Worley weeks ago. Nothing. Even included a cover letter to Mr. Worley. Sounds like you know the N.O. scene very well. I placed some business with Sou. Marine and Cravens. Been a long time ago. Did a lot in the London market. Was elected an underwriting member of Lloyds. More pomp than circumstance! Sure do miss the energy and marine side. Nothing like an unregulated environment. After insuring offshore helicopters for many years, I'd never get on one of them! Too bad we're in different cities. We could share a lot of war stories. Maybe too many! |
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Ray HallSenior Member Posts:2443
| 08/15/2010 12:47 AM |
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WBW is a new vendor in Houston. It stands for" Warm Bodies When you need them". I have trained about50 to measure roofs. I will send them to you for $100.00 per head. No I just made this up, but don,t steal this one from me, I filed the copy right tonight.
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Ray HallSenior Member Posts:2443
| 08/16/2010 9:49 AM |
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I have been hard on schools, vendors and carriers. I will try to keep this very simple. What is a good cat. adjuster? Well it seems to be a person who responds quickly and and can work16-18 hours per day for weeks on end that can close storm related damages to buildings and the contents of buildings that are covered by storm insurance. This is really what the insurance companies need when they call a non employee out to work for a 3rd party vendor. "the vendor system". Assume you have an adjusters license that can be easly obtained. This does say you have the skills to do the required job that the insurance carriers demand. Estimating programs have reduced the long detail estimates to several or more pages. You should be able to do this work if you know something about platform construction, and you can purchase these books for less than $20.00 at a big box home supply store.
About 5 or more estimating programs are used . Just learn one at a time, BUT learn it very well. How do you get deployed in a time of a major disaster in the USA. ? Many opines. I will not say you have to have years of experience, IF you can do the following hypo estimate on your own house with your own H0-3 (iso) latest addition as the policy form.
Make a copy of your deck sheet and enter all the info into an estimating program. The date of loss is the day you complete the "sample of your work" The cause of loss is Tornado. The amount of loss is "total to insurance on A, B and C coverage and 4 months on D. coverage ". The deductible is your policy, the policy # and so forth. Work this up it may take hours, days or weeks and then send it to the vendors who require certain software and say. " Put me in coach"
I have ask many people who want to be an adjuster do this. Take this test at you own pace and send it out to hundreds of vendors, this is how to break into this business.
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