GA Public Adjuster key terms

A person licensed to represent an insured policyholder in negotiating, presenting, and settling a first-party property claim against an insurer, and who is paid by the insured rather than the insurer.

An adjuster employed by or contracted to an insurer who investigates and settles claims on the insurer's behalf. This role is licensed under a separate adjuster classification from the public adjuster.

The credential issued by the Georgia Commissioner of Insurance authorizing a person to act as a public adjuster, obtained by meeting prelicensing, examination, and character requirements and maintained through renewal.

The formal notification an insurer or licensed public adjusting firm files with the state identifying a licensed individual as authorized to act under its authority. Appointment is separate from holding a license.

Required periodic instruction that a licensed public adjuster must complete to renew a license, covering topics such as policy coverage, claims practices, and Georgia insurance law and ethics.

The recurring process of paying fees and demonstrating completed continuing education so that an adjuster license remains active; failing to renew can result in a lapsed or expired license.

The Commissioner's withdrawal of a license, permanently ending the holder's authority to act in that capacity unless the decision is later overturned or the person is relicensed after a waiting period.

A temporary removal of an adjuster's authority to act, imposed for a defined period or until stated conditions are met, often following a regulatory violation or failure to comply with an order.

A monetary fine or other sanction the Commissioner may impose on a licensee after notice and an opportunity for hearing for violating insurance statutes or regulations.

A directive from the Commissioner requiring a person or entity to stop conducting unlicensed or unlawful insurance activity, enforceable through further penalties if ignored.

Acting as a public adjuster, soliciting claims, or negotiating settlements without a valid license, which exposes the person to fines, orders, and possible criminal consequences.

Directly contacting a policyholder to offer public adjusting services, especially during or soon after a loss. Georgia restricts the timing and manner of these contacts to protect consumers.

The legal obligation of a public adjuster to act in the insured's best interest, handling claim funds and information honestly and avoiding self-dealing or undisclosed conflicts of interest.

The written statement of how and how much a public adjuster will be paid, provided to the insured before signing an agreement so the client understands the fee arrangement.

A fee calculated as a percentage of the claim payment the insured recovers, payable only if the claim produces a settlement, with the percentage subject to statutory limits for certain losses.

The written agreement between an insured and a public adjuster authorizing representation, stating services, fees, duration, and the insured's right to cancel within the period allowed by law.

The insured's statutory right to rescind a public adjuster contract within a specified number of days after signing, without penalty, by giving written notice to the adjuster.

Money belonging to the insured, such as claim proceeds or advance payments held in trust, that must be kept separate from the adjuster's own funds and accounted for accurately.

A situation in which an adjuster's personal, financial, or business interest could improperly influence claim decisions, requiring disclosure and often disqualifying the adjuster from the matter.

Making a false or misleading statement about coverage, claim value, licensing status, or the adjuster's authority, which is an unfair trade practice subject to regulatory discipline.

A business practice prohibited by Georgia insurance law, such as misrepresenting policy terms, unreasonably delaying claim payment, or failing to act in good faith toward policyholders.

Specific prohibited conduct in handling claims, including failing to investigate promptly, denying without a reasonable basis, or offering far less than the claim is worth.

An insurer's unreasonable or reckless failure to honor its obligations to its insured, which can expose the insurer to liability beyond the policy limits in certain circumstances.

The statutory expectation that an insurer acknowledge, investigate, and pay undisputed claim amounts within defined timeframes after receiving satisfactory proof of loss.

A financial stake in the property or person insured such that the policyholder would suffer a genuine economic loss if the insured event occurred; required for a valid insurance contract.

The core idea that insurance restores the insured to roughly the financial position held before the loss, rather than producing a profit from the claim.

A valuation method that pays the cost to replace damaged property minus depreciation, reflecting the property's worth at the time of loss.

A valuation method that pays the amount needed to repair or rebuild with new materials of comparable quality, without deducting depreciation, often subject to policy limits.

The reduction in value of property from age, wear, and obsolescence, used to calculate actual cash value and to determine amounts withheld until replacement is completed.

A property policy provision requiring the insured to carry coverage equal to a stated percentage of the property's value, or claim payments are reduced proportionally.

The amount of each loss the insured must bear before the insurer pays, subtracted from the covered loss and often applied separately per occurrence or per building.

The maximum amount an insurer will pay under a coverage, which may apply per occurrence, per item, or in the aggregate and caps the total recovery.

Policy conditions the insured must satisfy after a loss, such as giving prompt notice, protecting property from further damage, cooperating, and submitting a sworn proof of loss.

The insured's prompt communication to the insurer that a loss has occurred, triggering the insurer's duty to investigate and beginning claim-handling timelines.

A formal, often sworn statement detailing the date, cause, and amount of loss, submitted by the insured to support the claim as required by policy conditions.

Coverage that pays reasonable extra costs of temporarily living elsewhere, such as lodging and meals above normal expenses, when a covered loss makes the home uninhabitable.

The insurer's right, after paying a claim, to pursue recovery from the party responsible for the loss, standing in the insured's legal position.

Damaged property that retains value after a loss; the insurer may take possession or the insured may retain it with a corresponding reduction in the claim payment.

Intentional deception to obtain an improper claim payment, such as inflating damages or staging a loss, which can void coverage and lead to criminal charges and license discipline.