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I think we're all trying to be a litle bit more helpful now, but it's tough not to make a lil' biti of fun some time too, OK?

O&P, E&O, ALLthoseO's....geez, it took me a while to get this right.  Anyway, there is a whole bunch on the archives about E&O.

The trend for inside adjusters will cut very deep into the warm body in the field needed to be the "adjuster". New people should market themselves as inspectors/photographers ,FICUS  to describe what they do in the settlement process; as the settlement is going back inside.

Four reasons for me to think they way I think. Auto liability claims very seldom have an outside adjuster involved. Outside people but not outside adjusters.

Non cat. property claims/losses . A small % have a staff adjuster inspect the loss.A complex or large loss will be assigned to an IA as it takes a lot of time away from the inside person. A very large % of the small to medium losses will have a select contractor do the only inspections. Many carriers now will require a 3rd party construction consultant on any loss of 75 to 100 K

The third is the real kicker. Too much liability for the actions of stormers who are over their head. Do it just like the NFIP program does: do not give the inspectors (FICUS) any authority to make any scope or coverage decisions, just send in the forms as requested!

We are in agreement on good outside adjusters Tom, just not as many as we have now.

If you work for a vendor that allows you to get paid on a 1099 basis, expect to not only carry your own E&O, but General Liability (GL) and your own Workers Compensation (WC) coverages as well.

One vendor I worked for in the past allowed their adjusters to get paid on a 1099 basis as long as they had their own E&O coverage- GL and WC were not required.  I am surprised since they would suffer quite a penalty if (actually a matter of when) an adjuster fell of the ladder and filed a WC claim on the vendor's WC policy.  I realize that the 1099 agreement implies a Subcontractor agreement.  However, if the injury is severe enough, you will get into a legal battle over express vs. implied ("Oh...I thought I was covered under your WC insurance").  And in America, the one with the most money usually loses.  If a vendor allows you to get paid on 1099 basis, expect them to require all three of the coverages just mentioned.

Ray, in reference to your comment above, I'm not sure how a vendor's pay structure (1099 or W4) reflects on their reputation.  Please elaborate.

Bud,

It looks like you've taken all the right steps and also have a pretty good support group to help you out.  We (well, maybe me & one other guy) may have been a little rough on you for what was probably just a mistake on your part when you brought up the subect of ins for E&O, when you said O&P.

Obviously, you knew the difference...but just had a little brain fart like most of us do from time to time.  Good luck in your ventures!!! 

Bud: You  will do just fine with your support group and carpenter background.

A catastrophe claim is not complicated from a coverage standpoint. If you have a Homeowners  3 claim all direct damage from wind is covered. No surface water (fallout from rain) and no flood (by definition) is covered. Under the broad coverage of the 3 wind driven rain to the building is covered; BUT not to the contents, UNLESS the rain comes through an opening in the roof or wall.

Trees and plants are not covered property for windstorm.  Several more land mines, but these are the real biggies.

You are now on WOW.

You can tell from all my post that the expense of insurance coverage should be on the master who gets 40%

Bud,

I don't know why you feel the need to attack me? I gave you some very good advice.

Everything in my post was truthful. I stand by by my original assessment.

Anyone in construction for 27 years should know what O&P is-not to be confused with O&E (E&O).

As far as questioning me having taken an Ethics Class. I assume you are stating that I am unethical. Everything I have said is legal and truthful. I don't think you know the definition of ethics.

my uncle has been an adjuster for over 30 yrs and having several friends that are either IAs or associated with insurance/catastrophes that have talked with me over the YEARS about adjusting

With a support staff like this you should be well connected and be able to catch a storm without any problem. I don't understand why you are not asking your staff these dumb questions.

to learn from proffesionals (excluding you of course).

Are you saying I am not a proffesional (professional)  or that you can't learn from me?

I gave you some good advice and told you what you are up against out here in the real world. That was before I knew what a strong support staff you had. It may be different for you because you are so connected.

One thing you do need to do before becoming a proffesional adjuster is learn how to spell it.

Get a dictionary.

This will be my first post and it is just because I come here to read and learn, instead of spouting off and showing my ignorance.    Larry, what you did was not give advise it was insulting just by your opening statement.  If someone ask a question you do not like just hit the back button and go to the next post.  Bud, good luck and all the best to you.

Alright those of you with nothing better to do spell check me and check for fragmented sentences.

Robert  Hill