Childress Duffy Goldblatt represents producers and public adjusters with their business, licensing and regulatory issues. Insurance is a heavily regulated industry and producers and adjusters are subject to changing and often times strict regulations. Each state has the authority to set its own regulations and statutes effecting producers and adjusters and so the regulations and statutes are often different for each state. Because the insurance industry is our business, we know what is happening in the industry and with the regulatory scheme and we work to ensure that our clients stay in compliance or are ahead of the curve of regulatory change.

Public Adjusters
The adjusting industry is under attack. The insurance industry is powerful and it has been hard at work changing laws to reduce the availability and effectiveness of public adjusters.  After the 2004 hurricanes, for example, Florida changed its laws to require a three day wait period before public adjusters could assist an insured after suffering a loss, and capped fees at 10%. The insurance industry argued that public adjusters are part of the “fraudulent claims” problems and that they exaggerate claims so they can get paid more. However, what really happened is that the three day wait period allowed the insurance companies access to insureds that had no representation or knowledge of how to adjust their loss and the value of their property. That gives an unfair advantage to the carriers. Many other legislatures and regulatory agencies throughout the Country are enacting or considering similar laws or regulatory changes.

CDG works hand in hand with public adjusters to work toward prevention of such legislative and regulatory changes and to ensure that our clients remain in business.

CDG does the following:
• Active members of NAPIA (National Association of Public Insurance Adjusters).
• Active members of FAPIA (Florida Association of Public Insurance Adjusters). 
• Hosted the first annual AMPIA (Association of Midwest Public Insurance Adjusters) conference for public adjusters in 10 states and brought in speakers from the Illinois Regulatory Department including the Director of Insurance.
• Drafts Legislation that protects the insureds and the public adjusters.
• Is involved with the Legislative process in states working to change the laws effecting public adjusters.
• Represents adjusters in regulatory matters.

Producers are being heavily regulated and examined by their respective state regulators more than any other time in history. After the commission scandal brought to light by the Attorney General of New York, state regulators are deploying additional manpower to ensure that the producers are abiding by the regulations and statutes that govern their profession. The laws are complex and require that producers follow strict practices and procedures not only in the running of their business, but in how they communicate with their clients. Producers also have responsibility to ensure that their clients are bound with financially sound and viable carriers. 

In addition to the regulatory changes, common law is quickly developing holding producers liable for inadequate coverage, undervaluation of assets, failure to communicate and, in some cases, producers are being held to a fiduciary standard of care:  akin to doctors and lawyers. It is no longer a niche for the unsophisticated. Clients demand that producers know their risks and potential losses and ensure that their risks are transferred to the appropriate insurance vehicle.

CDG has worked in the insurance industry for more than 25 years. Our talent brings over a century of experience to the table. We have worked with the Regulators in various states and know what needs to be done so that our clients can concentrate on their business and not on regulatory matters. 

CDG has represented:
• Producers before the Department of Insurance in regulatory hearings.
• Producers before Regulators in meetings to discuss changing issues and potential
impediments to business.
• Producers in negotiations with PEOs and other insurance related companies.
• Producers in negotiations with insurance companies with respect to business lines, contracts and other matters.

We maintain a relationship with key industry people:

Communication with Regulators is key. It is important to know the Regulators, what they require and to maintain consistent communication with their office and the Legislative process to ensure that our clients are practicing their profession in accord with the changing climate and laws and to stay ahead of the curve of Legislative change.

CDG knows:
• How producer accounts must be maintained and handled.
• The communication producers must provide to their clients to avoid regulatory penalties.
• The producers’ obligation to ensure the maintenance of the appropriate type and amount of coverage.
• The producers’ obligation to their clients regarding the viability of the carrier it binds.
• The changing fiduciary laws regarding producer liability.

The adjuster and producer worlds are changing. CDG stays ahead of the curve so producers and adjusters can service their clients effectively, efficiently and without interruption.