All-Lines Claims Adjuster License – Why Now Is A Good Time
One of our newsletter readers emailed in a question on whether the all-lines claims adjuster license would be helpful for career advancement. They had just begun their insurance career less than one year ago. The adjuster is licensed for workers compensation only- better known as a monoline adjuster.
My answer remains the same. It would be a great way to advance their career. Many adjusters, as I did in ancient times, will start as a generalist and then move to adjust only specific lines.
One of the license education providers provided a great synopsis of the difference between having an all-lines claims adjuster license and more specific lines of insurance. I could not agree with the article more in two areas – flexibility and reciprocity.
Let us look at each of those attributes.
Flexibility
I have written many articles on staying flexible as the insurance world changes. Most changes were due to the technology increase and the claims department work experience level decreasing since 2000. When I covered the 2015 NWCDC conference, one of the sessions pointed out the insurance world recruiting crisis was intensifying including this passage –
Talent shortage of 85,000 commercial claims professionals in 2015 (Deloitte). Expected to grow to 400,000 in five years (Insurance Journal).
Almost 10 years later – the claims department recruiting crisis continues due to many factors.
What this means for an all-lines claims adjusting license can be summed up in this section’s title – flexibility. You may be called upon to adjust other files besides the ones you are handling now.
With two recent hurricanes, claims offices may need you to cover other types of files. If you can only handle workers comp claims, then you will be passed over for these assignments. When it comes time for promotions, you will also likely be passed over.
Even though the same workers comp adjuster may not want to handle any other lines, subrogation still requires some type of background as an all-lines claims adjuster to review and put responsible third parties on notice. Workers comp specialists miss this often in our loss run reviews.
Reciprocity – All-Lines Claims Adjuster License Bonus Benefit
Many states have reciprocal agreements that allow you to adjust the same lines of coverage as with your home state license. Reciprocity leads back to flexibility. If you have flexibility in all-lines and multiple states, your supervisors and managers will take notice. In the past, I have had reciprocal all-lines licenses in over 15 states.
Many states only require a clearance letter from your home state’s Department of Insurance and payment for an out-of-state license – but only for the lines that you are licensed in your home state.
Bottom Line
With a claims adjuster recruiting crisis and a shortage of claims personnel, everything you do to make yourself stand out will be magnified in the next few years.
Bonus – Most insurance carriers, Third Party Administrators, and adjusting companies will reimburse you for each class you take to obtain your all-lines claims adjuster license and for your reciprocal licenses. Check with HR and your supervisor on any reimbursement offerings.
