Cap on Public Adjusters Fees Lifted

In Florida Legislation, Florida Property Insurance, Insurance law, Insurance News, News Article on May 17, 2013 at 1:32

Florida lawmakers have repealed a 10 percent cap on fees paid to public adjusters who handle claims from the state-backed property insurer. The new law will certainly impact new claims, new lawsuits and the upcoming storm season in numerous ways. One specific instance is that this new law requires public adjusters to meet with the insurer and try to settle the claim as opposed to refusing to meet the insurer and forcing the claim into court.

According to Claims Journal, “The Department of Financial Services currently licenses some 33,000 resident adjusters and 51,500 non-resident adjusters. Out of those, there are roughly 15,000 independent adjusters who live in the state and 16,000 who do business in the state but resided elsewhere.”   There’s a significant population that this impacts. 

  1. So amazed with your post and would it be okay if I ask a question? Adjusters-Public Thank you very much, I greatly appreciate your post!

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