Will Public Adjusters Thrive Amidst the 15% Fee Cap Proposal by NAIC? - Public Adjuster Basics

Public Adjusters, listen up! In this special edition of the Commercial Claim Show, we dive into a blog article written by Anthony Diulio, an attorney for Wheeler Diulio and Barnabe, addressing a major concern for the public adjusting community.

The National Association of Insurance Commissioners (NAIC) and the National Coalition of Insurance Regulators are advocating for a national bill to cap public adjuster fees at 15%. The catch? This cap would only apply after the contract is signed. Join us as we dissect the implications of this proposal and its potential effects on public adjusters, homeowners, and the industry at large.

Key Points Discussed:

How the 15% fee cap proposal aligns with the NAIC and NAPIA.

The impact on public adjusting firms, particularly those handling smaller claims.

Statistics reveal that 92% of insurance claims are under $25,000.

The potential consequences of leaving homeowners without professional representation for smaller losses.

Arguments against the flat fee cap and the call for reasonable fee regulation.

Are you a public adjuster, insurance professional, or homeowner?

Share your thoughts in the comments below. Do you agree or disagree with the proposed 15% fee cap? Let's engage in a conversation about the future of public adjusting and the potential impacts on the industry.

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ANTHONY DIULIO'S BLOG - https://wdblegal.com/2023/11/napia-aligns-with-insurance-companies-on-restricting-public-adjusters-fees/

https://content.naic.org/sites/default/files/inline-files/Public%20Adjuster%20Model%20Comments%2011.10.23.pdf

#PublicAdjuster #InsuranceClaim #Homeowners #Policyholders #PublicAdjusting #InsuranceUpdate #insuranceindustry

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