Texas All-Lines Adjuster Exam Chapter 2 correctly answered 2024/2025

Texas All-Lines Adjuster Exam Chapter 2Insurance Adjuster - correct answer One who settles claims. This typically involves investigation of the loss and a determination of the extent of the damages and coverage Staff Adjuster - correct answer An insurance adjuster who is an employee of the insurance company Independent Adjuster - correct answer Adjuster who provides services on a contract basis to insurance companies. They typically receive their contracts from an adjusting firm. Public Adjuster - correct answer Adjuster who represents the interests of an insured in a property loss. They negotiate the settlement of such claims with the insurer's claims representative. The Adjustment Process - correct answer Begins when a policyholder or an agent reports a loss to the insurance company. 4 Steps of the Adjustment Process - correct answer 1. Initial Contact 2. Investigation 3. Documentation 4. Evaluation Compensatory Damages - correct answer Compensate, or repay, a claimant for the loss suffered including Special or General Damages Special Damages - correct answer consist of medical expenses and lost wages; sometimes called out-of-pocket expenses; an exact and verifiable figure General Damages - correct answer Do not directly relate to an expense or an amount of lost income. By paying, insurer is attempting to compensate the injured party for mental/physical distress. Examples include pain and suffering, loss of body part and disfigurement.