A public adjuster is an insurance
claims
adjuster who is an advocate for the
policyholder in appraising and
negotiating a first party
insurance claim.[1]
Aside from attorneys and the
broker of
record, public adjusters licensed by
state departments of insurance are the
only type of claims adjuster that can
legally represent the rights of an
insured during a property insurance
claim process. A public adjuster will
offer the most benefit when it is clear
that the insurer will pay the claim and
the only issue is the proper
identification and valuation of the
loss. Most public adjusters charge a
percentage of the settlement (with the
percentage being lower for larger losses
(over $250,000)), with the average
charge being between 8% to 12.5%,[2]
although some states cap the fee[3].
Primarily they appraise the damage,
prepare an estimate and other claim
documentation, read the policy of
insurance to determine coverages, and
negotiate with the insurance company's
adjuster.[4]
There are three classes of insurance
claims adjusters: staff adjusters
(employed by an insurance company or
self-insured entity), independent
adjusters (independent contractors hired
by the insurance company) and public
adjusters (employed by the
policyholder). "Company" or
"independent" adjusters can only legally
represent the rights of an insurance
company.[5]
Outside the United States, adjusters are
commonly called (or translated into
English as) "insurance loss assessors"
(or simply "loss assessors") and staff
adjusters or independent adjusters are
called or translated as "insurance loss
adjusters" (or simply "loss
adjusters").[6]
(from Wikipedia
)