Basic Ethics Rules For Insurance Adjusters
The insurance field requires filing claims, and there is always ethics involved in these cases.
An insurance adjuster is in charge of determining coverage for a claim, and this requires strict adherence to the highest ethical standards under an adjuster’s code of ethics and the National Association of Insurance Commissioners’ (NAIC) Unfair Claims Settlement Practices Act.
Above all, the work of adjusting insurance claims engages the public trust. Although the codes vary somewhat by state, the adjuster’s code of ethics adopted by Florida sums it all up: “An adjuster must put the duty for fair and honest treatment of the claimant above the adjuster’s own interests, in every instance.”
However, it can be hard to determine what constitutes ethical behavior. There are no clear-cut answers, as each situation is different.
Luckily, there are some standards of conduct in place to help guide you. What should insurance adjusters do? Here’s a brief look at the code of ethics for insurance adjusters:
- Disclose any financial interest in a matter
- Treat claimants equally and in accordance with the policy
- Never act in a manner prejudicial to the insured
- Make truthful and unbiased reports
- Act with honesty and integrity, without any bribes or remuneration
- Act with due diligence
- Deal carefully with elderly persons
- Interviewing witnesses fairly and objectively
- Not negotiate with third-party claimants represented by attorneys
- Not advise against seeking legal advice or representation
- Not interview people in stress or shock from a loss
- Advise insureds/claimants of all claims rights
- Promptly reporting improper conduct by other adjusters
Here are some other rules to keep in mind:
- An insurance adjuster, whether the person works independently or for an insurance company, must provide at least 48 hours notice to the claimant prior to scheduling an on-site inspection or a meeting with the claimant. The insured or claimant has the right to deny access to the property if at least 48 hours’ notice has not been provided.
- A public adjuster may not imply to any client that insurers or adjusters deprive claimants of their full rights under an insurance policy. It should not be alleged that public adjusters are unscrupulous, or that engaging a public adjuster will delay or have other adverse effects on the claim.
Insurance adjusters must keep in mind that every claim has the potential of raising ethical considerations. It is important for the adjuster to follow the proper ethical procedures for conducting an investigation. They must always ask themselves “Is this the right thing to do?”
As with most ethical decisions, the answer comes from an inner sense of right and wrong.
Keep Your License With Help From a Tampa Insurance Adjusters Licensing Lawyer
Insurance adjusters have to be fair and ethical at all times. They cannot be biased toward an insurance company or homeowner.
If you have engaged in criminal activity or have been deemed incompetent, your license could be at risk. Get the help you need from a Tampa insurance adjusters licensing lawyer from The Law Offices of David P. Rankin, P.A. I have the knowledge and experience to help you resolve a disciplinary matter in a timely manner. Schedule a consultation today by calling (813) 968-6633 or filling out the online form.
Source:
theclm.org/Magazine/articles/Ethical-Decision-Making-When-Conducting-and-Documenting-Investigations/935#:~:text=Treating%20claimants%20equally%20and%20in,and%20integrity%2C%20without%20improper%20remuneration
