Florida offers three different adjuster licenses of all lines and the qualifications for each are also different. A 6-20 Company All Lines license is reserved for those who are already employed by insurance companies.
An All Lines Florida 5-20 Independent Adjuster license is available to those who are not employees of the insurance company. These applicants plan to work on behalf of insurance companies through independent adjusting firms. A 3-20 Public Adjuster represents the property owner against insurance companies, and the qualifications for this license are different from the first two categories.
Do you have any experience in the insurance profession adjusting claims? Do you have any experience in the construction industry? Are you an employee of an insurance company that will be employed as an adjuster? If your answer to these questions is ‘no’, you may want to consider the 5-20 standalone license.
The 5-20 Independent Adjuster license is available to those wishing to enter the profession who have no experience and who are looking for their first job in the profession. This license is granted when the applicant applies for the license with the Department of Financial Services. , submit fingerprints and complete an approved designation, such as the Accredited Claims Adjuster Designation with the University of Central Florida continuing education department, or take and pass the state exam.
An approved designation exempts the applicant from the state exam. If the 5-20 license is subsequently contracted by an insurance company, the 5-20 Independent license will become a 6-20 Business license.
For those who are already employed by an insurance company, apply for the Florida 6-20 Company license and follow the same procedures as outlined for the 5-20. the new adjuster and is paid while being trained.
PUBLIC ADJUSTERS
Do you have experience adjusting claims? Do you have experience in the construction or building sector? Are you trained in negotiations? If your answer to these questions is “yes”, then you may want to consider becoming a public adjuster. An applicant for the public adjuster trainee license must currently take and pass only the ACA (Accredited Claims Adjuster Designation), no other designation is accepted.
An application for a temporary public adjuster trainee license must be filed with the state, along with fingerprints and a $50,000 bond; The state exam must be taken and passed. A 12-month apprenticeship must then be completed under the direction of a licensed public adjuster before the 3-20 license is issued.
Because the state exam for the Florida Public Adjuster license is challenging, it is recommended that you take an exam review course before taking the exam. Don’t expect to earn any substantial income during the apprenticeship period.
Public adjusters work on a contingency fee (a percentage of the claim) and the job is much like running a small business. Public Adjusters are responsible for attracting clients, advertising, maintaining an office, and generating their own income.
Florida law regarding the practice of Public Adjustment has changed substantially in recent years and an applicant should be familiar with these changes as the law affects everything from the questions asked on the state exam, to references, applications and the amount of fees that may be charged on any claim.
So which license is right for you? The appraiser profession is booming, even during the recent economic downturn. Be realistic in your assessment of your own background and skills and choose the license that is right for you.
