Public adjusters and all property insurance coverage adjusters working in Florida have to take discover. Failure to adjust to the estimating requirements specified by Rule 69BER24-4, now completely included into Rule 69B-220.201, might end in critical moral violations. These violations might put your license in danger.
A public adjuster lately requested me whether or not it was essential to submit a variation report from Xactimate throughout a Residents massive loss declare. The request got here below the authority of this rule. The reply is “sure.” This requirement shouldn’t be elective and is now not restricted to emergency circumstances.
What Does the Rule Require?
The regulation started as Emergency Rule 69BER24-4. It has now been formally adopted into Florida’s moral code for all adjusters. When making ready and submitting a written estimate of loss, adjusters should comply with these key necessities:
- Use an digital estimating program to arrange all estimates. This program should present unit-cost pricing that displays present market circumstances and is up to date month-to-month.
- If the software program’s default estimate is modified in any approach, the adjuster should present a variation report or different documentation that explains the adjustments.
- Each modification should be justified with supporting market knowledge. This documentation should be detailed sufficient for a reviewer to grasp and confirm the need and accuracy of every change.
- Revised estimates should clearly present what has modified. They need to clarify why the adjustments have been made and establish the particular person chargeable for making them.
- All variations of the estimate, together with unique and revised variations, should be retained as required by legislation.
This Is Not Simply an Emergency Rule Anymore
Many adjusters might consider this rule was momentary and solely utilized throughout an emergency. That’s now not the case. The necessities have now been completely built-in into Florida’s moral requirements below Rule 69B-220.201. They’re in full impact and apply to all adjusters and apprentices.
Why This Issues: Your License Is On the Line
Violating these necessities shouldn’t be a minor error. It’s thought-about a breach of moral obligation. Florida’s Division of Monetary Companies expects adjusters to guard the general public belief and act with honesty and transparency. Adjusters who fail to adjust to the rule might face administrative complaints, investigations, license suspension or revocation, and civil penalties.
Public adjusters and apprentices ought to perceive that omitting a variation report or making undocumented adjustments to an estimate might result in disciplinary motion. This contains attainable lack of licensure. It isn’t well worth the threat. This rule applies to insurance coverage firm adjusters and impartial adjusters as effectively.
Respect the Rule, Defend Your Profession
This rule shouldn’t be about forms. It’s about skilled integrity. Florida regulators are setting increased expectations for transparency and accuracy within the estimating course of. Each adjuster should meet these expectations.
In case your present workflow contains undocumented estimate adjustments or casual changes, now could be the time to make adjustments. Assessment your practices. Practice your crew. Ensure that each estimate you submit can stand up to scrutiny.
Your license and your popularity depend upon it.
Thought For The Day
“Once you’re screwing up and no one says something to you anymore, which means they’ve given up.”
—Randy Pausch
