Welcome to Dimechimes Corporation Adjuster Information Blog

July 26, 2007

Welcome to the newer version of our blog! We will post updates to claim data from new significant storms, updates to job opportunities, and updates to information independent adjusters, claim representatives, cat adjusters, and claim managers need to know about developments in the claim adjusting community.

We have moved to a new blog site which allows us to have pre approval on comments posted to maintain the professional intention of our blog for members on our rosters and firms using our services.

We hope you visit us often!

Best Regards,

Deborah K Moroy, AIC,IIA

President/Founder

Dimechimes Corporation Claim Staffing and Recruiting

Proud sponsor of ClaimSmentor

Advertisements

Catastrophe Adjuster resumes- the requirements to get noticed do differ!

July 26, 2007

We are quickly approaching the peak hurricane season. We talk to many adjusters about their resumes when they call to find out how they can get noticed with the thousands of adjusters who have entered this field due to the strong hurricane seasons in 04/05.

Here is a link to our published article in the June 2006 issue of Claims Magazine regarding Catastrophe adjuster resumes with some suggestions for enhancing your resume. Many career websites tell you that your resume will only get a 20 second overview before HR personnel determine if they want to continue reading and considering you as a viable candidate:

http://cms.nationalunderwriter.com/cms/Claims/Monthly%20Issues/Issues/2006/06/rn1?origin=chan
nels-Catastrophe

Here is also a current list shown on our Opportunities page with a list of important information you need to be sure is included as commonly asked for by most adjusting firms looking for quality candidates:

http://www.dimechimes.com/Opportunities.html


Opportunities to work Citizens Insurance of FL claims

July 26, 2007

We continue to receive many inquiries from adjusters about the opportunities available to work claims for 1 of the 45 Independent adjusting firms selected to work claims for Citizens Insurance of Florida.

Due to the number of requests, we have spent months following the topics to provide you links to information you should know to work the claims. We now have a list of the 45 vendors, the 103 page RFP the vendors had to use for operating standards to handle the claims with the amendments, the links to the 2007 Claim Procedure guide, links to the Citizens of FL Task force website and videos of task force committee meetings, Citizens Board meetings and links to the 45 vendors websites and have uploaded each of the Citizens pre-orientation meeting ads by selected firms  we could locate as well as informational emails put out by many of the adjusting firms involved. If you need the details so you have the whole picture (not just information shared by your vendor), visit ClaimSmentor for links to more information.

This independent reference material includes links to so many good news articles on issues you will be facing working in Florida should a hurricane be suffered by our residents again this year. We as adjusters well know that the Florida financial insurance crisis will increase the stress of the policyholders we serve and you should be aware of the many issues they are reading about.

Many adjusters do not know where to locate this information and the reference links you need are all located and provided for you. This will serve as a great field resource when you are out working assignments. Other important information you should view includes Citizens Fee schedules, the fines to be imposed for adjuster infractions of time service guidelines, and contact information for Citizens personnel should you have difficulty recovering your fee payments from firms as some have experienced in prior seasons. That is a whole new topic in and of itself we’ll address in another posting. This reference material is independent research- we are not affiliated with the task force or Citizens of Fl. We are simply a claim staffing firm and also citizens of the state of FL very concerned and proactive in our followup on claim handling issues adjusters are facing.

We are going to continue to follow the developments in training options for you and additional reference material.


How much income can I make as an adjuster?

July 26, 2007

  Web Tag: Insurance Adjuster Pay

We often receive the question from new adjusters about the amount of income a staff adjuster or an independent adjuster or a catastrophe adjuster can make. Many forums say this topic is taboo to speak about it on public forums.

Here are many articles found on public websites for your informational purposes for those of you exploring careers in this profession.

I’ll be posting in this blog later about pros and cons of staff adjusting versus being an independent adjuster. I continue to be amazed teaching online classes on ClaimSmentor how many adjusters have misconceptions about the freedom associated with being an independent because they really have no experience yet with the expectations of carriers for independent adjusters handling their claims….so check back often for updates on many topics!

This first article is by National Underwriter Claims Magazine now managing Editor, Eric Gilkey “Overwork/Underpaid”:

http://www.claimsmag.com/cms/Claims/Monthly%20Issues/Issues/2006/10/Features/…

Here is also the latest Bureau of Labor statistics report on Adjuster pay:http://www.bls.gov/oco/pdf/ocos125.pdf

Here is one more salary link for you:

http://www.umsl.edu/services/govdocs/ooh20022003/ocos125.htm

Here you will find a link to an interesting formula used by an adjusting firm for figuring independent pay! Let us know how accurate you think this could be!

http://www.imsclaims.com/compensation.htm

**************

**Update 8/14/07- Here’s another site with adjuster income projections:

http://adjusterstraining.com/library/IncomeProjections.pdf

Make sure you also review our 8/14/07 blog on Adjuster fees in the News for deductions from this gross income type of a listing.

*********** 

It is very hard to pinpoint an “average” salary or compensation for an independent adjuster. There are many many variables such as the number of files assigned, the tight zoning of assignments in a territory or much travel involved between appointments, the fee schedules of the carriers and the fee split with the adjusting firm. Also, variables exist as to which expense items independent adjusting firms take a fee split on such as mileage, photos, tolls, and other items from the gross fee schedule billings. The net income to an  independent adjuster also varies greatly based on their temporary housing expenses at a cat site, gas expenses depending on travel from home and then site to site,etc..so there is no cut and dry answer but hopefully these well researched articles may give you some indication. Be leary of the ads and rumors you hear about those earning high dollars. While there certainly are those who do earn those figures based on years of expertise, there is no guarantee of such income. All independents can vouch for that after the slow 2006 storm season!