Adjuster's Ethical SItuation
-Adjuster make frequent decisions involving larger amounts of money
-Adjusters should always determine a fair and equitable settlement that abides by the insurance contract
Inducement
An action, item, or promise made to someone to motivate them toward certain ...
Adjuster Pro Section-6 WITH
100% CORRECT ANSWERS 2024
Adjuster's Ethical SItuation - answer -Adjuster
make frequent decisions involving larger amounts
of money
-Adjusters should always determine a fair and
equitable settlement that abides by the insurance
contract
Inducement - answer An action, item, or promise
made to someone to motivate them toward certain
desired actions
Consequences for Accepting Inducements - answer
-Losing license
-Reputation Loss
-Lawsuits
-Jail time
Kickbacks - answer Money or favors offered to the
adjuster in exchange for referring business to
specific repair shops or contractors
,Settlement Padding - answer Increasing the
settlement amount dishonestly in order to increase
commissions
Misappropriating Salvaged Property - answer
Adjusters must never misappropriate salvaged
property for their own use or the use of others
Adjuster Code of Ethics - answer 1. Disclosure
2. Equal Treatment
3. Avoid Prejudice
4. Truthfulness
5. Integrity
6. Diligence and Dispatch
7. Reporting Violations
8. Elderly Claimants
9. Attorneys
10. Witnesses
11. Right to Attorney
12. Traumatized Claimants
13. Advising of Rights
14. Release Forms
15. Competence
, Adjuster Code Rule #1 Disclosure - answer
Adjusters shall disclose all direct or indirect
financial interest they have in adjusting a claim
Adjuster Code Rule #2 Equal Treatment - answer -
An adjuster shall treat all claimants equally
-Do not favor your nice clients
-Do not disfavor your rude clients
Adjuster Code Rule #3 Avoid Prejudice - answer
Adjusters must never be prejudiced in their
investigations, adjustments, or settlements
Adjuster Code Rule #4 Truthfulness - answer An
adjuster shall make truthful and unbiased reports
of the facts after making a complete investigation
Adjuster Code Rule #5 Honesty and Integrity -
answer An adjuster shall handle every adjustment
and settlement with honest and integrity
Adjuster Code Rule #6 Diligence and Dispatch -
answer An adjuster should act with speed and care
in completing the adjusting process
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