Public Adjusters – Apartment Assoc. of Greater Dallas

Apartment Association of Greater Dallas owners and management companies in the process of dealing with insurance claims in the aftermath of hail and windstorms in the Dallas/Fort Worth area may choose to work with a public insurance adjuster.

Do you need a public adjuster?

  • Are you dealing with a hail/wind storm insurance claim seeking an advocate who represents your interests, NOT the insurance company?
  • Do you have no time, expertise or desire to deal with the burden of an insurance claim?
  • Are you concerned your insurance claim is being underpaid, delayed or denied?

What does a public adjuster do for an Apartment owner or management company?

A public adjuster is an advocate who exclusively represents the interests of the policyholder (not the insurance company) in appraising and negotiating an insurance claim. Public adjusters can legally represent the rights of the insured during an insurance claim process. Their main responsibilities include visiting the site of the loss to analyze damages, making sure the loss is documented, prepare damage estimates, review your Apartment insurance policy for coverage, determinate current replacement costs, determine values for setting covered damages, evaluate business interruption losses, determine building code upgrades, interpret policy, negotiate a settlement with the insurance company on behalf of the insured, handle paperwork required by the insurance company and re-open a claim and negotiate for a higher settlement if a discrepancy is found after a claim has been settled.

>>READ ARTICLE FROM ROOFLINES MAGAZINE<<

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Report Contractors & Roofers Negotiating Insurance Claims to TDI Fraud Dept.

TDI Urges Consumers to Report Roofers & Contractors Negotiating Claims Without a License

Kudos to the Texas Department of Insurance (TDI) Commissioner for issuing bulletin B-0017-12. Insurers, agents, adjusters, and consumers are urged to report contractors, roofing companies, individuals and entities not licensed by TDI for advertising or performing acts that require them to hold a public insurance adjuster license to the TDI Fraud Unit (1-800-252-3439) The Insurance Code provides for both civil and criminal penalties for violating this licensing requirement as unlicensed persons are not permitted to negotiate insurance claims or perform the acts of a public insurance adjuster.

Only licensed public adjusters should be negotiating any type of insurance claim. If you’re in need of an experienced and certified public adjuster, you can always trust the experts at Insurance Claim Recovery Support. Our team only represents you, not your insurance company. We will fight to get you the fair settlement that you deserve so you can get back to your normal life. With ICRS, you can stop worrying about working with an unexperienced adjuster and know we’re getting you what you’re owed. Contact ICRS today at 832-725-2878 and we’ll get you back to business.

Read more about the TDI’s work here:

Kudos to Dave Lieber and TDI Fraud Unit!

Insurance Companies Maximize Profits To Industry By Shorting Customers

Insurance Companies Boost Their Profits by Low-Balling Consumers

WASHINGTON — Unlike many other businesses, the insurance industry is bound by law to act in good faith with its customers. Because of their protective role in the lives of ordinary citizens, insurers have long operated as semi-public trusts. But since the mid-1990s, a new profit-hungry model, combined with weak regulation, has upended that ancient social contract.

“Claims has been converted into a money-making process,” said Russ Roberts, a New Mexico-based management consultant and former business professor at Northwestern University who has studied the insurance industry’s evolution from a service business to a profit-driven machine.

The change started when consulting giant McKinsey & Company sold Allstate and other leading insurance companies on a new system to boost the bottom line: Rather than adjusting claims the traditional way, which gave claims managers wide latitude to serve customers, insurers embraced a computer-driven method that produced purposefully low offers to claimants.

Those who took the low-ball offers received prompt service, while those who didn’t had their claims delayed and potentially were reduced to bringing expensive lawsuits to fight for their benefits. As former Allstate agent Shannon Kmatz told the American Association for Justice, the trial lawyers’ lobby, the strategy was to make claims “so expensive and so time-consuming that lawyers would start refusing to help clients.” The strategy was dubbed “Good Hands or Boxing Gloves” by the consultants, riffing on Allstate’s advertising slogan.

McKinsey’s strategy put profits above all. One slide in the McKinsey presentation illustrated this philosophy by painting the insurance business as a zero-sum game: “Improving Allstate’s casualty economics will have a negative economic impact on some medical providers, plaintiff attorneys, and claimants. … Allstate gains — others must lose.” Allstate has certainly gained: It made $4.6 billion in profits in 2007, double its earnings in the 1990s. The stunning increase, said Russ Roberts, came through “driving down loss values to an average of 30 percent below the actual market cost” — that is, paying dramatically less on claims.

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Did your insurance company give you a low-ball offer on a property damage claim? Whether you filed for a business interruption loss, a fire damage loss, or more, ICRS will help you get the settlement you’re owed.’

 

Thinking about filing a bad faith claim with your insurance company? Read more below!

Insurance Claim Damage Appraisal, Breach of Contract and Bad Faith: Is There a Connection?

Wall Street Journal Recommends Small Business Owners Hire a Public Adjuster To Assist With Claims

Expect Delays with Claims – Hire A Public Adjuster

The WSJ recommends that small business owners hire a public adjuster to assist with claims.

If you are filing a claim under your homeowner’s policy because of Hurricane Irene or another loss, brace yourself: On major claims, it could take months to get through the whole process.  Depending on the type and severity of your loss, there may be an on-site inspection, such as to confirm the degree of water damage. If your home is unlivable, you may receive one initial check to cover temporary living expenses and then other checks down the line, says Paul Stachura, chief claims and risk-services officer for Fireman’s Fund Insurance. Keep track of expenses, such as hotel and meal costs, and save your receipts, says Joe Kovar, a certified public accountant in Danville, Calif. If you have a small business, consider hiring a public insurance adjuster to assess the damage and organize your claim, which might include inventory and repair costs.

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Data breaches are becoming more and more common. Read about the Target data breach and cyber insurance here:

 

Winter Storm Related Loss Estimates in Texas Reaching to $100M

Loss Estimates from Winter Storm Related Weather Already Hit $51 Million in February

Preliminary estimates of insured losses from recent winter storms in Texas range between $51 million and $100 million statewide according to two insurance industry trade groups.

Southwestern Insurance Information Service said estimated preliminary statewide losses from winter storm related weather like high winds and freezing temperatures during the first few days of February had reached $51 million, cautioning that the number is likely to rise. The Insurance Council of Texas estimated insured losses from 15,000 claims so far statewide would exceed $100 million.

The winter storm that pushed through Texas on Feb. 1 brought damaging winds to the Hill Country, frigid temperatures statewide, and snow and ice in many areas of the state.

“Most of the damage will be the result of roof damage from strong winds and bursting pipes resulting in water entering a home or business. There will be some claims for vehicle damage but the majority of the claims will be to homes and businesses,” said Jerry Johns, president of SIIS.

According to Mark Hanna with the Insurance Council of Texas, approximately 1,000 wind-related claims had been reported in the Texas Hill Country as early as Feb. 2. Hanna said losses occurred in all areas of the state. Particularly hard hit was El Paso, Hanna said, which experienced a record low of zero degrees Fahrenheit.

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Interested in learning more about Texas weather? Read more below!

Tremendous tornado damage as twisters and hail tear through areas near Dallas