SC Adjuster Prep Exam Fully Solved 100% 2024

3 types of adjusters - Answer Public, independent, staff What type of adjuster is employed by the insurance company? - Answer Staff What type of adjuster is contracted by the insured? - Answer Public What type of adjuster is contracted by the insurer? - Answer Independent Who does the Public Adjuster work for? - Answer The insured 4 components of the claim reporting process - Answer Claims investigation, evaluation, negotiation, disposal 3 types of reports an adjuster gives their management team - Answer Initial/first field, interim/status, full formal Insureds duties after a loss - Answer Immediate notice to insurer, minimize the loss, submit proof of loss, special requirements, production of books and records, abandonment 3 claim settlement options for property losses - Answer Clear liability, doubtful liability, no liability 2 components of a settlement - Answer Payment and discharge 3 elements of liability investigation process - Answer Verify coverage, determine liability, determine value of intangible damages 2 types of witnesses in a liability loss - Answer Ordinary and expert