To not be fooled by his insurance company
By: Cyprien L. Gary, excerpt from The Daily novelist, electronic ...
The complexity of procedures to obtain and enjoy an insurance policy makes skeptical candidates for insurance that requires ignorance, do not enjoy the maximum benefit of an insurance policy. This has caused the mid-20th century, the emergence of a new profession, public adjusters whose mission is to support and represent the insured with international insurance companies. Present in Haiti after the disaster of Jan. 12, Matt Martinez, public adjuster working for the agency "Adjusters International, presents the profession and its journey.
Haiti: When we lost everything, there is insurance. In a world constantly threatened by natural disasters and accidents, insurance services are the last resort owners or entrepreneurs wanting to get away from misfortune. Haiti, land at high risk of natural and other disasters, is nevertheless a country where the percentage of companies and the insured property is close to negligible.
The lack of information provided about clauses in contracts between them and prevents their insurance company insured to get the most from their insurance policy. For, not only beating the specificities and the terms of a policy, policyholders are not sure what to claim from their insurers. It is at this crossroads that the presence of a public adjuster is mandatory, says Matt Martinez, public adjuster working "Adjusters International, a visit to Haiti after the disaster of 12 January.
What is an adjuster?
As insurance companies have agents to represent them, policyholders have adjusters who represent the face of insurance companies. The insurance claims are complicated, "says Matt Martinez. From reading the insurance policy to its understanding, to process claims for premiums, the public adjuster and sometimes accompanies starts in place of the insured to help analyze the police, document damage and file claims in a format compliant insurance.
This speeds up the process and get the most out of the insurance premium, as both parties (and the insured) have their respective representatives who speak the same language and share common knowledge in the field of insurance.
In other words, the adjusters are there to help clients to analyze the insurance policy itself, to consult their insurance policies and any other relevant document, helping to determine the levels of loss and maximum amount they can recover from insurers.
"They have the experience and know-how all the more necessary that the insured are generally not well informed about the content of the clauses of a contract of insurance. What prevents them from benefiting the most from their police, "said Matt Martion.
Thus, the presence of a fitter, the customer can talk as equals with their insurance company. They are there to make the balance between the two parties. This is not insurance it is up to document the loss of the customer. This work is for the adjuster, who helped the owner of the insurance policy, prepares documents for solid and convincing to have a better presentation of losses to the extent possible, make the most of the premium .
While the role of the broker agent is to enable the potential insured to choose the appropriate insurance policy to their needs. He can guide, inform and advise the insured even take the insurance that must be compared with the risk of disaster. Continue>
Citing the need for a policy holder to inform the content of his contract, the representative of Adjusters International has suggested that "if the owner of the policy does not inquire or not trying to learn to understand and ask questions before you sign, it is a disadvantage compared to the company. The insurance company is primarily a business for profit and whose main objective is to make profits. Nobody gonna get her something he has not called. "
Haiti specificities
Mr. Martinez said that one of the main observations he made about the disaster of January 12 is that the customers thought it was enough to take out an insurance policy for the amount of a loan without considering the value of property. He also noted that policies were not updated regularly and did not take into account the value of properties.
According to him, the insured must learn more about their police. "They do not read that when there is a problem. They must analyze and apply questions, "advises Matt Martinez, who believes the public should learn from this situation and try to be better informed in future. About
elements which must be reduced in the case of a policy, the expert explains: Generally, when people cover a good 50%, they still think that if they go with the company after a disaster, they will get for example $ 500 000 for police coverage of $ 1 million. This is not the case. Instead of $ 500 000 250 000 you, who represent half the risk premium covered.
other hand, Haiti, the first 20% are not covered by insurance companies in case of natural disaster. To this must be added the 2% deductible coverage. A total of 22% which is deductible from the local insurance premium, which never covers 100%. After Haiti, Matt Martinez noted the case of Mexico as other countries where insurance companies do not play 100% coverage. Mexican insurance, in turn, deduct 10% of premiums for coverage, the expert of Adjusters International.
In the case of these two countries, Matt Martinez believes that insurers offer bonuses that they can cover, but generally do not take into account the value of the property itself. So that in most cases, the property is underinsured.
The adjuster's interest to help the insured make the most of his insurance, since his income depends on the amount that will permit the customer to recover from the insurance company.
Both the accountant is essential in managing a company's financial and legal obstacles in the justice system, as the fitter is essential for the insured argued the expert, whose experience in the field are numerous. Adjusters International has had experiences in the Caribbean including the Cayman Islands, Jamaica, St. Thomas, Mexico, after disasters.
Established in 1964 in New York, the agency has represented policyholders in New Orleans, where she was hired by the port of that city after Hurricane Katrina, in New York after Sept. 11, in Kuwait after the war 1991, etc.. She used to work for insurance holders in major disasters worldwide, allowing them to recover billions of dollars.
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