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Essential coverages for your clients and your business
Get protected against employment-related issues
All Standard plan benefits and:
*plus Workers Compensation
Due to the nature of this industry, adjusters may work long hours, including nights and weekends, depending on the needs of their clients. Adjusters also have the potential to face many hazards depending on the type of adjustments they are making. For example, property claim adjusters may be required to operate heavy ladders and perform various physically demanding tasks in order to investigate damaged property. As such, some adjusters must take additional measures in order to ensure they are protected. Insurance providers understand this need and subsequently offer several possible coverage options.
Errors and Omissions (E&O) insurance offers invaluable protection for your business. For most businesses, accusations of negligence results in complicated legal battles, even if there was no mistake made. Possible mistakes change based on the industry, even to trained professionals with several years of experience. This is why E&O insurance is important.
As claims adjustors, you have your customers' data saved. Your device could get lost or stolen and the customer's personal information breached. Cyber Liability covers the liability of data breach where the customer's personal information, like credit card numbers and social security numbers, is exposed or stolen by a hacker or criminals that have gained access to these data.
Bonds provide financial guarantees, ensuring that contracts are completed in a three-party contract. The obligee requires the principal to purchase a bond to avoid financial loss. The principal, business owner, purchases a bond to guarantee quality work. The surety issues the bond to guarantee the principal’s performance of the task in question.
General Liability is the most basic insurance, protecting any business and its employees from accidents and other mishaps. Property Damage covers damage or destruction to the property where you are working. Bodily Injury covers injury to someone while working, including medical care for the injured party and legal fees if proceedings are sought against your company.
Workers' Compensation covers injuries to everyone on the job, whether physically checking an insurance claim or in the office. Workers' Compensation also covers lost wages and medical treatment if an employee suffers a work-related injury or illness and is unable to work. As an employer, this is ideal as it can also protect you from employee lawsuits.
There are many policies to consider, including Business Owners Policy (BOP). BOP can include Property Insurance, Business Interruption and Liability. Property Insurance protects company property and contents. Business Interruption covers loss of income due to disaster that interrupts business operation. Liability covers legal responsibility of harm to others.
Insurance rates will vary depending on several different factors including location, business size, and type. You will be able to get a more accurate insurance quote by identifying the specific needs of your business with your insurance provider.
You’ll need this when:
You begin working as a claims adjuster. As an insurance professional assessing a variety of different types of claims, you may encounter several possible risks that may threaten your well-being and the financial wellbeing of your insurance business. Regardless of how carefully you work, there are always risks involved for any business.
For Example: If your property claims adjuster’s 50-pound ladder falls and breaks a customer’s window while investigating a claim, General Liability Insurance will cover the damage expenses and legal fees if the accident resulted in someone’s injury.
You’ll need this when you have employees on the company payroll. The laws differ from state to state, but usually coverage to protect the welfare of your team is required by law. Regardless of your state’s laws, Workers Compensation is good to have, as an employee-related lawsuit could harm your reputation and put your business at risk.
For example: If your employee is a claims adjuster working on a case related to a severe natural disaster, such as a tornado, and is injured by a falling piece of debris on the field, Workers Compensation can help cover his medical treatment and lost wages so that you won’t have to.
An insurance claims adjuster is a representative of an insurance company responsible for gathering the facts and reporting the details of claims by the insured. The facts gathered are then sent to the insurance company and then the insurance company will determine if the claim will be covered under the policy and how much the insurance company should pay for the loss.
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