FLORIDA PUBLIC ADJUSTER REPRESENTATION RESULTS IN LARGER PROPERTY CLAIM SETTLEMENTS
OPPAGA REPORT
OPPAGA Releases Public Adjuster Report
Florida’s Office of Program Policy Analysis & Government Accountability has released Report No. 10-06 relating to the regulation of public adjusters in Florida. The report notes that, Public Adjuster Representation in Citizens Property Insurance Increases Payments to Citizens’ Policyholders.
Policyholders with public adjuster representation typically received higher settlements than those without public adjusters. Policyholders that filed catastrophe claims in 2008 and 2009 generally received larger insurance settlements than policyholders that did not hire these persons. The typical payment to a policyholder represented by a public adjuster was $22,266 for claims filed in 2008 and 2009 related to the 2004 hurricanes (see Exhibit Above). In contrast, policyholders who did not use a public adjuster received typical payments of $18,659. The difference in payments was larger for claims related to 2005 hurricanes, with public adjuster claims resulting in payments that were 747% higher.
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