by CPAC | Oct 8, 2018 | Education
Historical development of insurance – Britannica Online Encyclopedia Insurance in some form is as old as a historical society. So-called bottomry contracts were known to merchants of Babylon as early as 4000–3000 BCE. Bottomry was also practiced by the Hindus in...
by CPAC | Aug 30, 2018 | Education
The Office of General Counsel issued the following informal opinion on February 5, 2007, representing the position of the New York State Insurance Department. Re: Public Adjusters and Compensation for Work Referrals Question Presented: May a public adjuster compensate...
by CPAC | Apr 20, 2018 | Education
FIRST CLAIM REPORT BY A PUBLIC ADJUSTER — A public adjuster will have an error free advantage if they report your claim. They will begin with a clean slate by having an opportunity to interview all named insureds, parties with an interest and witnesses in order...
by CPAC | Apr 17, 2018 | Education
Public adjusters represent you for a percentage of your claim settlements, typically 10%, which is paid upon the settlement any element of your claims. CPAC is paid from the proceeds of your settlement checks, which by New York State Insurance law and regulations...
by CPAC | Mar 8, 2018 | Education
It is the policyholder and NOT the insurance carrier who is responsible to prepare and present loss evaluations. Don’t be fooled into believing that your carrier’s decision to send their insurance adjuster is in your best interest. Although a carrier is...
by CPAC | Jan 25, 2018 | Education
WHAT YOU SHOULD KNOW. Reporting a freeze claim opens a policyholder up to multiple carrier questions, which incorrectly answered could void an insurance claim. Insurance carriers have shifted the responsibility of freeze up damages to policyholders using many...
