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In this insightful episode of The Art of Adjusting®, hosts Chantal Roberts and William Auten are joined by David Princeton, principal consultant at Advocate Claim Service, to discuss the complex roles of public adjusters in the insurance industry. They explore the profession’s intricacies, emphasizing the crucial roles of transparency and ethical standards.

David clarifies the often misunderstood position of public adjusters, addressing the stigma of their perceived opposition to carrier adjusters. He highlights a shared goal among all adjusters: to settle claims fairly and uphold high ethical standards, fostering collaboration across the industry.

The conversation covers 'direct physical loss' in insurance policies, its impact on actual and consequential damages, and the importance of accurate documentation to avoid estimate inflation. They also examine the concept of indemnity, focusing on depreciating electronic items, and David introduces a historical perspective on replacement cost policies versus Actual Cash Value, setting the stage for future in-depth discussions.

The trio discusses the challenges of estimating repair and replacement costs, emphasizing the need for clear communication between field and desk adjusters to bridge interpretation gaps and prevent estimation extremes.

They conclude by discussing strategies to manage resistance and gamesmanship in post-disaster restorations, stressing transparency and ethical practices. David commits to further exploring historical insurance valuation cases, and Chantal plans to feature his insights in her risk management class.

This episode not only highlights the essential roles and responsibilities within the insurance claims industry but also emphasizes the importance of collaboration and ethical conduct for effective and fair outcomes.

Our guest's information:

David R. Princeton, CPCU, AMIM, AIC, CSRP
Principal Consultant
Advocate Claim Service, LLC.
(414)841-6462
David@AdvocateClaimService.com
www.AdvocateClaimService.com

For more insights, you might consider a career in liability adjusting or if you're searching for reliable adjusting services, visit Auten Claims Management.

To explore more about Chantal Roberts and her contributions to the industry, visit CMR Consulting.

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