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Independent adjusters are assigned when an insurance company chooses to contract with them, but your policy provider may also have in-house adjusters who can be assigned to a claim.
The distinction between independent contractor and employee is an important one in the United States, as the costs for business owners to maintain employees are significantly higher than the costs associated with hiring independent contractors, due to federal and state requirements for employers to pay FICA (Social Security and Medicare taxes) and unemployment taxes on received income for ...
Similar to a company adjuster, an independent adjuster works on behalf of the insurance company, but unlike company adjusters, they are not employees of the company.
Casualty General Adjuster: CGA Certified Claims Adjuster: CCA Certified Claims Professional: CCP Certified Claims Professional Candidate: CCPc Chartered Property Casualty Underwiter: CPCU Chartered Property Casualty Underwriter candidate: CPCUc Certied Forensic Litigation Consultant: CFLC Certified General Adjuster: CrtGA Certified Mold ...
be a licensed agent, broker, adjuster, or solicitor, or; have at least two years of full-time experience in the insurance industry or as a risk management practitioner, or; have served as a full-time insurance faculty member at an accredited college or university; As of December 2012, there were 30,986 active CIC designees.
This term is also now commonly used in commercial general liability (CGL) policies or so called "casualty" business. In these instances, the liability policies are written with a large (in excess of $50,000) self-insured retention (SIR) that operates somewhat like a deductible, but rather than being paid at the end of a claim (when a loss payment is made to a claimant), the money is paid up ...
The Certified Financial Planner (CFP) designation is a certification mark for financial planners conferred by the CFP Board of Standards. To receive authorization to use the designation, the candidate must meet education, examination, experience and ethics requirements, and pay an ongoing certification fee.
The IIABA has spent more than $1 million in 2010 in lobbying efforts on federal crop insurance, insurance licensing reform, and other insurance issues. [2]The IIABA supported the National Association of Registered Agents and Brokers Reform Act of 2013 (H.R. 1155; 113th Congress), a bill which would reduce the regulatory costs of complying with multiple states' requirements for insurance ...