Most states have ethical regulations for all adjusters to follow. Florida’s ethical regulation starts off with this preamble which is similarly found in many other states:
The work of adjusting insurance claims engages the public trust. An adjuster shall put the duty for fair and honest treatment of the claimant above the adjuster’s own interests in every instance.
On my Tuesday at 2 yesterday, I listed a number of posts between adjusters showing many insurance companies have the investors best interests in mind rather than the claimants interests. I would suggest you may want to view that Facebook livestream, and here are five of the posts I showed in that broadcast which back up what is often going on in the field.
I am certain that Doug Quinn of the American Policyholders Association would like to get more examples where adjusters have their opinions of loss and estimates changed without their permission. Those actions may be more than just ethical but can lead to criminal consequences.
While most states have ethical rules about adjusters not suggesting that policyholders refrain from hiring an attorney, Florida’s ethical rule also applies to public adjusters:
An adjuster shall not advise a claimant to refrain from seeking legal advice, nor advise against the retention of counsel or the employment of a public adjuster to protect the claimant’s interest.
I suggest all adjusters read their Code of Ethics. I also suggest that we remember and take to heart in our actions that insurance is a business that involves the public trust.
Thought For The Day
Being a lawyer is not merely a vocation. It is a public trust, and each of us has an obligation to give back to our communities.