Ethics And Ethics Training At Work » Work Ethics Training

Breaches in ethical and moral behavior are all too common when large sums of money are at stake and the industry of insurance claims adjusting is certainly no exception. Claims adjusters, more than many other professionals, will almost continuously face temptations of greed. Why does this happen?

An insurance adjuster, particularly an independent insurance adjuster, has a surprising amount of power to wield. When a claim is filed, the adjuster may dictate in large part the speed by which the claim will be processed and the final settlement amount. In the case of a small automobile claim, this may be less the case as a dented fender and broken headlight leave little wriggle room for malfeasance. However, in the case of a medium to large loss residential or commercial property claim, the possibilities for abuse become far greater. $15,000 can literally be added or subtracted from a claim with a few keystrokes and it is here that adjusters can run into trouble. Take for example the recent fraud attempt in Beaumont, Texas.

A hotel manager was arrested for offering $20,000 cash in exchange for a $125,000 insurance claim check on a loss of only $18,000 after Hurricane Humberto. The man in this case was turned in by his adjuster but one can imagine some less ethical claims personnel taking the money and putting in an imaginative claim for $125,000. Claim inflation is probably the single greatest temptation an adjuster will face and not merely from the perspective of taking a cut of the final payment from the claimant. Because adjusters are typically paid a percentage of the final claim amount, there is always a temptation to bump the claim up another notch to get to that next percentage level. However, the two are in effect the same and must be avoided altogether. An adjuster who repeatedly pads claims, in addition to committing a crime, will eventually be an adjuster out of work. Fraudulent claim activity is being investigated and prosecuted like never before.

Strength of moral character is an important trait for any professional but particularly for those who hold the power to give and take away - a power given to claims adjusters.

ABOUT THE AUTHOR: In addition to his work as a catastrophic claims adjuster, Daniel Kerr acted as the V.P. of Operations for one of the most successful adjuster training companies in the country - helping to grow the business into the most recognized brand in the industry.

As well as his blog Well-Adjusted Mr. Kerr currently co-owns and operates AdjusterPro, a rapidly growing business dedicated to providing the finest resources available to aspiring claims adjusters. AdjusterPro is a certified educational provider for the Texas Department of Insurance and will be offering adjuster licensing, software training, and continuing education courses this fall. For free consultation on advancing your insurance adjuster career or to find out more about how to become an insurance adjuster call AdjusterPro directly at 214-606-8370.

Source: www.isnare.com