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Last Post 10/06/2011 2:33 PM by  olderthendirt
Did I mess up?
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R_Smith
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10/05/2011 10:41 AM
Interesting change in facts. The adjusters that work this extraordinary event did so for 3-4 months and made a killing. But when the vendor noticed the fee bills, they rescinded the agreement and put a more appropriate compensation schedule (which is the norm in the industry). Does this mean the adjusters didn't turn in fee bills for 3-4 months or was the vendor not paying attention for the 3-4 months?

From my experience, when an IA has an extraordinary fee bill, usually the first one, the company questions it and adjusts their agreement immediately if the work load & product do not support the payment amount. I have seen fee bills in the $30-$50K range and defended them to the carrier successfully. I have also seen where carriers pull all claims meeting certain criteria because they "could" generate a fee bill that would be considered extraordinary based on the work performed. This would have been the case on the slab claims in Mississippi.

I believe we have not received the true facts and any further discussion would be a waste of time without the facts. I will say most adjusters have problems netting $100K a year consistently and that anyone considering this industry research their decision objectively. There are adjusters (several post here regularly) that work constantly and do very well financially. They have identified their niche and have the appropriate contacts to ensure their success.
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Atfulldraw
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10/05/2011 11:00 AM
It's impossible to pay your bills in this industry.

You just don't understand net, net.
Rod
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Leland
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10/05/2011 11:32 AM
I might have the best story of the least amount of work for the largest fee bill.

On Ike my boss got a claim for a cigarette distributor that had wet cigarettes. They leased the warehouse so the only loss was BPP. The SOL was almost one line:

damaged cigarettes $450,000.00

no salvage/no subro/no co-insurance. Maybe some extra money for disposal.

Due to my sales experience my training kicked in and I asked him to assign the loss to me. I gave him several compelling, well thought out reasons. He ignored me.
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Leland
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10/05/2011 7:30 PM
I do not want to be the last word on the subject so will someone please post a story on the WORST fee bill for the MOST amount of work. (Then maybe we can average the two to give a realistic portrayal to newcomers....)
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CatAdjusterX
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10/05/2011 8:26 PM
Posted By OkcLarryD on 05 Oct 2011 09:04 AM
Robby,

You lost me when you took the Lord's name in vain....................


Well Larry, All I have to say to you is........you are gosh darn correct and I should NOT EVER take his name in vain and for that I am truly sorry to you and the man upstairs.
 

"A good leader leads..... ..... but a great leader is followed !!" CatAdjusterX@gmail.com
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CatAdjusterX
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10/05/2011 8:29 PM
Posted By Jud G. on 05 Oct 2011 12:40 AM

Your comment about me trying to be queen bee in the CADO forums and posting on CADO 24 hrs. a day shows exactly how little you know about me. 

I agree.  He forgot that you've got to sleep too.  I think he meant 18 hrs.

Oh.



 

"A good leader leads..... ..... but a great leader is followed !!" CatAdjusterX@gmail.com
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HuskerCat
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10/05/2011 9:07 PM

Now then, this is more like it!!  Reminds me of the entertaining quarrels in past years, but I don't think I'll participate.  Age and patience have set in, as Stormcrow (aka the Dirty One) has lend credence to.  Do what we do, as can as we can, and live with it.  There's no need to be on the one-up on 'ya type of talk, because at the end of the day.....the big earners are also the big spenders.  It will catch up, and maybe already has for some.

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CatAdjusterX
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10/05/2011 9:15 PM
Posted By Leland on 05 Oct 2011 07:30 PM
I do not want to be the last word on the subject so will someone please post a story on the WORST fee bill for the MOST amount of work. (Then maybe we can average the two to give a realistic portrayal to newcomers....)

Whilst not a herculian effort, I wrote a 34k and change estimate and submitted a roughly 1,175.00 fee bill only to find out a few days later it was an erronious assignment and had already been inspected (twice)written and closed with payment from another IA firm. As such, instead of approx. $700.00 I was only able to re submit  a bill for 70.00 for an erroneous assignment but being #3, I got zero zip nada

 

 

 

 

 

 

 

 

"A good leader leads..... ..... but a great leader is followed !!" CatAdjusterX@gmail.com
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CatAdjusterX
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10/05/2011 10:04 PM
Posted By Tex Walker on 05 Oct 2011 09:09 AM
Robby, what do you mean by this comment ? " As long as there are people like you that spin bogus tales of excellence and non stop work " I think everyone here knows and can validate that what I'm saying is true and there are people that do really well like me in this business or obviously they would have found their fortune somewhere else.

I think your comments clearly state your insecurities and inadequacies, as you seem to be the dense one here. I dont have a clue who you are, but you sure make it easy to paint a self portrait on who you are.

So continue to do what you do and they way you do it, because obviously it's not working for you since you have to be combative with others and how others make it look so easy !

Take the path of least resistance in life, you might like it :)


Tex, nothing in my responses indicates anything about me being bitter of others making more than me, that was NEVER the issue. The issue was and is and always will be about giving prospective adjusters real world information and facts to make an educated decision, PERIOD!!!! Uneducated and undertrained rookie adjusters are saturating our industry and have done much damage to the industry through monumental mistakes, driving fee schedules way down and are PARTLY responsible for the rise of the Public adjuster and plaintiff attorneys over the last 5 to 10 years. Many of these folks are buying into the dog and pony shows that many(not all) of the vendors who promote their 3 day licensing courses about BIG money and claims of adjuster shortages. In Texas alone there are close to 45,000 licensed adjusters and I would say probably half of those if not more have never adjusted claim 1. This year was great for new adjusters but even that was less than 7,000 working adjusters(new and old hands).

If these new folks were given a realistic view of our craft, a good portion would probably decide against entering the fray . That would drastically reduce the numbers coming in and by default the ones who do choose to enter our industry would know that the big money is the fruits of experienced adjusters who have paid their dues and taken their lumps and in most cases that kind of money will not be realized as a rookie adjuster
 

Tex, that is the ONLY reason for my responses in this thread. Oh, by the way, the path of least resistance is not always the right path my friend . 

In closing, there is a great difference between combative and passion

"A good leader leads..... ..... but a great leader is followed !!" CatAdjusterX@gmail.com
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CatAdjusterX
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10/05/2011 10:06 PM
Posted By Mike Kunze on 05 Oct 2011 09:07 PM

Now then, this is more like it!!  Reminds me of the entertaining quarrels in past years, but I don't think I'll participate.  Age and patience have set in, as Stormcrow (aka the Dirty One) has lend credence to.  Do what we do, as can as we can, and live with it.  There's no need to be on the one-up on 'ya type of talk, because at the end of the day.....the big earners are also the big spenders.  It will catch up, and maybe already has for some.


Well said !
 

"A good leader leads..... ..... but a great leader is followed !!" CatAdjusterX@gmail.com
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olderthendirt
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10/06/2011 2:33 PM
These boards have been way to dull lately. The most excitement is when we get yet another post from a new adjuster ready to leave his little kids for months to make millions. This business has always had its share of people willing to brag about how many files they close an hour, how much they make and how grate they art.
We all work at different sppeds and if you turn in a decent product, following the guidelines for the cat you are on (not were on), you can make a decent $$$$. IF THERE IS WORK. Every once and a while someone wins the lottery. (I keep hoping). So far it seems the only lottery I may win is being the oldest poster, if I live long enough.
Life is like a sewer, what you get out of it depends on what you put in it
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