Catastrophe Insurance Adjuster

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03-05-2019, 11:08 AM

#11

Azorian

Line Holder

Thread Starter

Joined APC: Feb 2018

Posts: 79

Quote:

Originally Posted by USMCFLYR

My father owned Global Adjusters for over 35 years.

He tried to get me into the business and I went on a few trips with him.
Not my cup of tea - especially the owner/business side of it; but the work could be interesting and as Azorian said - the money could be very good.

Near the end of his life though, the insurance companies had started to downsize their use of independent insurance adjusters. They had decided that it was - you guessed it - cheaper to use their own people. So they pull in adjusters from all over the place who might have automobile adjusting experience for example and give them a very quick crash course and send them off to meet TiredSoul.

He said that it was just the right time to GET OUT of the business (at least on the owning the business side). He said the final few years were spent mostly cleaning up the mistakes for the big companies when they would finally relent and hire GA on a much smaller scale after running into so many problems.

So Azorian - are you saying that the big insurance companies have gone back to using contracted adjusters now?

Im not sure when he was doing the job.

I got into it in March of 2011, and did it up until last summer.

2011 was slow for me because i was a newbie, training was April and part of May, then only worked May - October.

2012-2017 i worked basically 10 straight months every year, Including hurricane Harvey in Houston, during which i was part of a management team with over 150 contract adjusters to supervise from my firm alone on the Houston assignment.

I was discussing this with a former co-worker the other day, they keep the good independent adjusters busy, we estimated during our discussion that perhaps 40-50% of the adjusters on any given storm were sourced from outside firms. larger storms tend to see more independent guys make up the work force of course, but strictly speaking of your run of the mill North Texas hail storm that affects 4500 houses, yeah, probably closing on half the work force is independent.

04-03-2019, 03:17 PM

#12

geosync

Gets Weekends Off

Joined APC: Jun 2015

Posts: 116

Quote:

Originally Posted by The Rooster

Good evening,

I’m in my late 20’s and looking to explore ideas outside of aviation. I currently fly for a supplemental/flag 121 carrier. If you have any insight or recommendations it would be greatly appreciated.

Ever thought about Aviation Insurance Underwriter? I'm in claims for an aviation insurance company. Due to the obvious need for industry specific knowledge, we are all pilots(some like me were A&Ps as well), and one of our managers is ex-121 pilot like you. Steady hours, decent pay, solid industry.

04-05-2019, 09:33 PM

#13

ESQ702

Fly or Die

Joined APC: Jan 2019

Posts: 484

Quote:

Originally Posted by geosync

Sounds interesting. What’s the pay and schedule like on average?

04-28-2020, 10:16 AM

#14

geosync

Gets Weekends Off

Joined APC: Jun 2015

Posts: 116

Quote:

Originally Posted by ESQ702

Sounds interesting. What’s the pay and schedule like on average?

Sorry for the late response. Entry level pay would probably be in the $70k range(highly dependent on location) and you can leverage your flying experience. If you hustle the sky is the limit no pun intended, but you can get to mid 100k to 150k in a few years depending on motivation. Schedule is 9-5, mainly office job. Suits for work events. Some travel with brokers to visit accounts to assess the risk(business) you may want to insure so relationships with the brokers are critical. Can be a corporate fleet to crop dusters to airlines. Obviously there are a lot of sectors in aviation. It's a very specialized sector of insurance in turn, so knowledge of aviation operations is key. And, at least for now, we're still going strong during COVID. I'm on the claims side, aka pay money when airplanes get bent.

PM for more info. Good luck!

05-09-2020, 02:57 PM

#15

hindsight2020

Gets Weekends Off

Joined APC: Oct 2006

Position: Center seat, doing loops to music

Posts: 825

Just got my renewal for the Arrow and it went up significantly without changes in coverage, hull value, trigger age (age 70 applicants et al), or claims on my part. Some in the sector are suggesting there's been consolidation in the market and players are exiting, which would stand to reason would allow these providers to hike up the rates.

I've been an airplane owner for the last 9 years and this is the first time I've seen such a hike. Usual rates bottom out at 1.5% of hull. My current provider just went to 2.4%, so I had to change, though it meant I lost coverage to travel down to PR or USVI.

At any rate, only bring up this anecdote to contrast the notion aviation insurance is an in-demand occupation, if these consolidations are factually accurate. Sounds like firms are bleeding cash right now from where I sit as a customer.