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Quality Claims Management insurance professionals assist mortgagees by identifying covered property losses and expediting claim resolution. Quality Claims’ licensed Public Insurance Adjusters are the nation's leading coverage experts, able to maximize recoveries on each loss.
Team members have worked together for many years delivering unparalleled service to the parent company and third party clients. Working in-house for one of the nation’s largest mortgage companies has provided the team with a unique understanding of the servicers’ perspective and a focus on reducing loss severity.
Investors also win as Quality Claims helps manage loss ratios, thereby reducing the risk of rising insurance premiums.
 1. Evaluation of your rights and coverages under the insurance policy in effect.
2.Accurate identification of covered hazard losses on vacant properties.
3.All claim decisions made by licensed adjusters.
4.Reporting claims to the correct carrier on the policy at the date of loss.
5.Providing all necessary documentation to facilitate claim resolution.
6.Skilled negotiations and denial dispute to maximize recovery and accelerate timelines.
Clients can click here to access our online reporting system.
Compliance:
Currently, a majority of states require licensing as a Public Insurance Adjuster to represent the insured.
According to the National Association  of Insurance Commissioners (NAIC) :
“Public adjuster” means any person who, for compensation or any other thing of value on behalf of the insured:
(1) Acts or aids, solely in relation to first party claims arising under insurance contracts that insure the real or personal property of the insured, on behalf of an insured in negotiating for, or effecting the settlement of, a claim for loss or damage covered by an insurance contract;
(2) Advertises for employment as a public adjustor of insurance claims or solicits business or represents himself or herself to the public as an public adjuster of first party insurance claims for losses or damages arising out of policies of insurance that insure real or personal property; or
(3) Directly or indirectly solicits business, investigates or adjusts losses, or advises an insured about first party claims for losses or damages arising out of policies of insurance that insure real or personal property for another person engaged in the business of adjusting losses or damages covered by an insurance policy, for the insured.
What are the regulatory aspects of representing an insured mortgagee with their hazard claims?
According to the NAIC, in order to represent an insured one must be licensed as a public insurance adjuster.
As of October 2008, 43 states and the District of Columbia license public insurance adjusters. Most states require fingerprinting, licensing bonds, as well as the successful completion of an examination as well as continuing education requirements.
What are the different types of adjusters?
There are three types of adjusters:
Company Adjusters – Employed by the insurance company to represent the interests of the insurance company. Most states do not test or license company adjusters.
Independent Adjusters – Employed by an adjusting company to investigate a loss for the carrier, they are engaged by, and permitted only to represent, the interests of the insurance company. Some states require licensing of Independent Adjusting companies but typically not the individual adjuster. Independent Adjusters are not prohibited from having ownership interest in repair and salvage companies. This is a potential conflict of interest if the Independent Adjuster directs or influences the insured to hire certain companies to repair their damaged property. One could then ask, “how independent are they”?
Public Insurance Adjusters – The only adjusters qualified and authorized to represent the insured’s interest. They are not paid by the insurer, but rather are retained by the insured and represent the insured only. In California and many other states, Public Insurance Adjusters are not permitted to own any part of or participate in the repair of any assets for which they file a claim or represent the insured.
Are there any exceptions to licensing?
According to the NAIC there is an exception for an attorney-at-law admitted to practice in the state in which the loss occurred only when acting in his or her professional capacity as an attorney.
How much can a public adjuster charge for their services?
Most public adjusters charge a fee consisting of a percentage of the
claim proceeds. Certain states' regulations contain fee caps.
Currently, 10 states have permanent fee caps and an additional state enacts fee
caps for certain designated catastrophes.
QCMC complies with industry regulations and abides by all statutory fee limitations.
How do I choose a competent and qualified Public Adjuster?
The National Association of Public Insurance Adjusters is the industry’s trade group. All members must meet certain qualifications to be considered for membership including compliance with licensing regulations. All NAPIA members must adhere to the industry Code of Conduct as outlined in the Rules of Professional Conduct and Ethics.
NAPIA also has a Professional Education and Certification program administered through the American Institute for CPCU and the Insurance Institute of America (AICPCU/IIA). Click here to learm more.
It is recommended that when selecting a professional public adjuster that you research the qualifications of the firm as well as checking references.
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