Property Adjusting

 

Who Should Attend

• Entry-level adjusters and claim service representatives who will be assigned property losses involving Homeowner, Dwelling, Fire, and Condominium policies.
• Individuals with limited experience who will become catastrophe adjusters handling weather-related property losses resulting from hail, wind and/or water damage

Prerequisite

Attendees must be capable of operating personal computers and be able to navigate Windows-based programs.

Course Content

This course is designed for entry-level and experienced students who must be able to understand and apply ISO™* policy language from the Homeowners, Dwelling and Fire policies as they relate to investigating and handling property claims. The course includes the application of construction estimating concepts to residential building damages. Estimates are generated on the latest versions of available electronic estimating systems. This intensive three-week course is a policy coverage course, a property adjusting course, and a scoping and estimating course.

Strong emphasis is placed on learning the ISO™* Homeowners (HO3) policy. Throughout the course, coverage application and structural estimating are integrated using workshops and claim "scenarios" to challenge the students to apply what they learn.

The student will learn to prepare damage estimates, on their choice of electronic estimating systems, practice reporting and produce Statements of Loss just as they would in the "real world" of property claims adjusting. Arson, fraud, documentation techniques, reporting formats and good faith handling are also emphasized.

Special Feature

• Many projects and workshops are assigned to identify and analyze various coverage and loss conditions.
• Integration of coverage knowledge with the ability to prepare electronic estimates, Reports and Statements of Loss.

*Used with permission Insurance Services Office, Inc.

Course Benefits

Upon successful completion the student will have the skills to analyze and apply property coverages, be able to investigate the cause of loss, prepare an electronic estimate, prepare a Report and a Statement of Loss and negotiate and settle property losses.

Syllabus

Insurance Basics

• Insurance Principles
• Policy Structure
• Provisions Common to Property Policies

Contracts

• Elements of a Legal Contract
• Distinct Characteristics of an Insurance Agreement
• Ten Rules for Interpreting policies

Property Coverages

• Dwelling and Contents
• Building and personal Property
• Time Element/Loss of Use
• Additional and Extended Coveraes
• Selected Endorsements

Causes of Loss

• All Risks vs. Named Perils
• Analysis of Specific Perils
• Court Cases

Adjusting Losses

• Duties After a Loss
• Determining Value and Loss
• Apportionment of Losses
• Coverage Problems
• Negotiation and Settlement
• Subrogation/Dispute Resolution

Investigation

• Theft/Fraud Indicators
• Photos & Diagrams

Projects

• Workshops on Coverage
• Loss Scenarios
• Testing and Evaluation

Reporting

• Documentation of Events
• Captioned Reports
• Statement of Loss Format

Good Faith Claims Handling

• Avoiding Bad Faith

Structural Estimating Introduction

• Definitions, Estimating, Scoping
• Diagramming, Trades, Tools

Rough Carpentry

• Floors, Walls, Roofs

Interior

• Plaster, Drywall, Ceilings, Paneling
  

Millwork

• Stairs, Trim, Cabinets, Countertops

Doors, Windows, Glass

• Types and Materials

Flooring

• Wood, Tile, Vinyl, Carpet

Decorating

• Paint, Wallpaper
• Restoration, Deodorizing

Exterior

• Siding, Trim, Soffits
• Guttering, Fences

Roofing

• Roof Styles, Materials
• Measurements

Masonry

• Concrete, Block, Brick
• Chimneys, Stucco

HVAC

• Types, Insulation, Ductwork

Plumbing

• Rough and Finish
• Water Heaters
• Supply, Containment, Drain

Electrical

• Service, Fixtures

Damages

• Estimating exercises that cover damages resulting from fire, water, wind, hail, hurricanes, collision and ensuing losses, including mold.

This course uses the latest versions of:

• M&SB™
• PowerClaim™
• Simsol™
• Xactimate™

Dates

Vale East (PA)	Vale Central (TX)	Vale West (CA)
2008 -$2495	2008 -$2495	2008 -$2495
Mar 3-21	Feb 4-22	Apr 21-May 9
Jun 9-27	Apr 21-May 9	Nov 3-21
Aug 11-29	Jul 7-25
Oct 13-31	Nov 3-21

 

© 2008 Vale National Training Center, Inc.