A public adjuster is an independent claims handler/claims auditor who represents for the policyholder in negotiating and helping the insured/ insured’s insurance claim through the insurance company. These claims are usually filed by the client in the third party payer for example, the Canadian Pension Act (CPPA) or Insurance Companies Act (ICCA). The profession of a public adjuster has gained popularity over recent years. The main benefits include:

There are several advantages to being a public adjuster in Ontario. You can assist a client in filing large or multiple claims, which will ultimately increase your income and chances of receiving a larger claim settlement. Another benefit is the increased business from large water damage clean up firms. You will receive a percentage of the water damage costs which allows you to take on larger clients. You may also be eligible for a referral bonus for referring other policyholders to the water damage company.

Public adjusters must have specialized knowledge in a specific area such as insurance claims, occupational health and safety, building codes, flood and fire, electrical, natural disasters etc. You must be able to handle a variety of administrative and financial duties such as preparing estimates, negotiating with insurance companies, reviewing documents etc. Sometimes, you might have to work as many as 80 jobs simultaneously. In addition to the benefits received as the policyholder, hiring a public adjuster will also bring additional revenue to your firm. If you hire a qualified adjuster, then you will increase your chances of receiving a payout and have the added advantage of increased job security.

However there are several disadvantages of hiring a public adjuster involved in Claims related activities. One of the possible disadvantages is the increased administrative workload and the possibility of receiving less than the settlement entitlement. Also, it takes longer time to process large claims settlements when compared to small claims settlements.

If you are not a good negotiator then you can consider the services of a professional Claims Adjuster. These professionals are highly trained negotiators who are experienced in dealing with all sorts of insurance-related matters. In fact, they might even specialize in particular areas of coverage like flood damage, earthquake and workplace injuries etc. A Public Adjuster hired by a large law firm or a corporate insurance company can negotiate on behalf of the client and reduce the settlement claim to a much smaller sum. This might be possible only if the Public Adjuster has a good understanding of the technicalities of insurance related issues and laws.

If you are considering using the services of a claims adjuster, it is important that you do some research of your own. Even though the claims adjuster may be knowledgeable and experienced, it does not mean that they are infallible. Do not forget that there are many people in the insurance industry who are more experienced than them. You must make sure that you are dealing with an honest and hardworking adjuster. After all, this person will be representing your interests while working on your case.

National Fire Adjustment Co.

1100 S Service Rd #222,

Stoney Creek, ON L8E 0C5

+1-800-790-2622

nfaco.ca