• EIA

Insurance Agents aren't Claims Adjusters

There is a misconception in the general public around the role of the insurance agents and claim adjusters.


Many believe that their agent can get a claim paid that isn't covered by the policy. Or, that the agent can get them paid more for a claim that is covered by the policy. Both of these are incorrect.


Insurance Agent/Producer


  • Works for the Agency

  • An insurance agent's role is to consult with the client on the types of coverages available and discuss with the client the trade offs of risk vs. cost to cover that risk


Insurance Claims Adjuster


  • Works for or is contracted by the insurance company

  • A claims adjuster's role is to determine if the claim is covered under the insurance policy and if so, how much it should be covered for


Conclusion


As you can see from the above, there is a division of duties in the insurance world to have the person who is compensated on volume (agent/producer) not be the person who determines if a claim is paid (Claims Adjuster). For this main reason plus more, the agent does not have authority to determine if a claim is covered or for how much.


0 views

EIA offers insurance products and services through its licensed insurance agency Entrepreneur Insurance Agency, LLC. EIA is not an insurance company, but acts as a producer for certain insurance companies. EIA is paid commissions and may receive other compensation for its services. The compensation received by EIA and its independent producers may vary by insurance company. Not all insurance products and services are available in all states. Rates are subject to change.

Answer Financial® Inc. offers insurance products and services through its insurance agency licensed affiliate Insurance Answer Center, LLC (California License # 0B99714); in New York as Insurance Answer Center, LLC, an Insurance Agency; in Michigan as Insurance Answer Center, LLC, an Insurance Agency; and in Missouri as Answer Financial. Answer Financial affiliated agencies are not insurance companies, but act as agents for certain insurance companies. Answer Financial’s affiliate Right Answer Insurance Agency, LLC (CA License #0H52358) operates as an insurance broker in California and an agent in all other states. Answer Financial is paid commissions and may receive other performance-based compensation for its services. The compensation received by Answer Financial and its employees may vary by insurance company. Not all insurance products and services are available in all states. Rates are subject to change.

  • Facebook

©2019 by Entrepreneur Insurance Agency