Search
 

The Insurance Claims Adjuster's ‘Black Box’

Every profession has some motto and a few secrets hidden in a special place. For physicians, the essence of the Hippocratic Oath is Do no harm. Their black box is likely a black bag with a stethoscope and other tools. For attorneys, the motto may be Litigate the issue! and...

By Ken Brownlee, CPCU | Updated on November 24, 2014

Every profession has some motto and a few secrets hidden in a special place. For physicians, the essence of the Hippocratic Oath is “Do no harm.” Their black box is likely a black bag with a stethoscope and other tools. For attorneys, the motto may be “Litigate the issue!” and the black box is a case for briefs. We adjusters also have a black box, but it’s most often in our head. Our tools are the policy, other contracts, a recorder, a camera, maybe a tape measure, a smart phone and a computer. It is what is in that black box that gives adjusters a basic understanding of what we do: it consists of six words and our motto is: “Never assume!”

Six words can adjust any type of claim: property, casualty, marine or life, and health insurance. Investigate, evaluate, and negotiate (or resolve) are the first three words. The next three are: Coverage, liability, and damages. These must be done in the proper order: Investigate the coverage first, and negotiate the damages last. The contents of this little black box will keep the adjuster out of trouble.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.