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 integrated into Rule 69B-220.201, might lead to severe moral violations. These violations might put your license in danger.
A public adjuster not too long ago 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 beneath the authority of this rule. The reply is “sure.” This requirement is just not 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 getting ready and submitting a written estimate of loss, adjusters should observe these key necessities:
- Use an digital estimating program to organize all estimates. This program should present unit-cost pricing that displays present market situations and is up to date month-to-month.
- If the software program’s default estimate is modified in any means, the adjuster should present a variation report or different documentation that explains the adjustments.
- Each modification have to be justified with supporting market knowledge. This documentation have to be detailed sufficient for a reviewer to know and confirm the need and accuracy of every change.
- Revised estimates should clearly present what has modified. They have to clarify why the adjustments had been made and establish the individual answerable for making them.
- All variations of the estimate, together with unique and revised variations, have to be retained as required by regulation.
This Is Not Simply an Emergency Rule Anymore
Many adjusters might imagine 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 beneath 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 is just not a minor error. It’s thought-about a breach of moral obligation. Florida’s Division of Monetary Providers 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’s not definitely worth the danger. This rule applies to insurance coverage firm adjusters and unbiased adjusters as effectively.
Respect the Rule, Shield Your Profession
This rule is just not 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’s the time to make adjustments. Evaluate your practices. Prepare your workforce. Ensure each estimate you submit can stand up to scrutiny.
Your license and your fame depend upon it.
Thought For The Day
“If you’re screwing up and no one says something to you anymore, meaning they’ve given up.”
—Randy Pausch