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Independent adjusters usually work on a fee schedule, meaning the amount of the claim payout directly impacts how much they earn — they are typically hired by corporations.
An independent adjuster is contracted by an insurance company to assess and investigate claims. Independent adjusters are expected to operate impartially to recommend a settlement.
Public adjuster: One whose business is the adjustment of claims for insurance, employed, not regularly for full-time by one person or company, but by members of the public as their need of an adjuster arises. [6] A public adjuster is hired by the insured only and can only represent the interest of the insured, not the insurance company. A ...
Farmers Insurance has more than 48,000 exclusive and independent agents and approximately 21,000 employees. Farmers is the trade name for three reciprocal exchanges , Farmers, Fire, and Truck, each managed by Farmers Group, Inc. as attorney-in-fact on behalf of their respective policyholders. [ 3 ]
This is an accepted version of this page This is the latest accepted revision, reviewed on 8 January 2025. Equitable transfer of the risk of a loss, from one entity to another in exchange for payment "Insure" redirects here. Not to be confused with Ensure. For other uses, see Insurance (disambiguation). An advertisement for a fire insurance company Norwich Union, showing the amount of assets ...
Independent agents are independent contractors for the insurance companies they represent. Several companies may authorize the agent to sell for them, but the agent remains an independent businessperson. While the agent collects commissions, they do not collect a salary from the companies they represent. On average, independent agents work with ...
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