Independent Adjusters Needed

To The Editor:

The June 17 letter by Victor Beard, president of Property Adjustments Ltd., discussing the coverage dispute over the stolen fish sign raised by Bruce Hillman in his April 29 “FC&S Answer” column is right on target. A sign having collectible value would be covered under the businessowners personal property.

Mr. Beards response illustrates the importance of using independent adjusters when warranted, something many carriers now seem loathe to do, instead relying on a troop of largely inadequately trained telephone adjusters.

An independent adjuster with experience in antiques or collectibles replacement would have quickly analyzed this loss, estimated a replacement cost for the sign, given recommendations to the carrier, and saved a lot of bad feelings on the part of the insured.

The insurance industry continues its “penny-wise, pound foolish” approach to managing claims by refusing referrals to independent adjusters, minimizing in-house training programs, and underpaying claims staff.

Nancy Germond
Risk & Claim Manager
Missouri Automobile Dealers Assn.
Workers' Compensation Fund
Jefferson City, Mo.

Reproduced from National Underwriter Property & Casualty/Risk & Benefits Management Edition, August 12, 2002. Copyright 2002 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.

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