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Article: Some things adjusters do ought to be a crime. (Property).
- Article from:
- Risk & Insurance
- Article date:
- February 1, 2003
- Author:
CopyrightCOPYRIGHT 2003 Axon Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Disputes between policyholders and insurance company claims departments are nothing new, but sometimes the only thing you can say about the position an adjuster takes is, "There oughta be a law."
Take, for example, an employee dishonesty claim for less than half the policy limit. A lone employee embezzled money from the employer over a period of five years. The total amount was less than half the policy limit, and the same insurance company provided coverage for the entire time. The risk manager expected the insurance company to cut a check for the whole amount, and that seems like a reasonable expectation.
The claims adjuster took a different position, ...