A valuable asset
As the insurance industry has developed, so the position of adjusting companies within that structure has shifted. Michael Burnett, president of the Chartered Institute of Loss Adjusters, warns insurers not to ignore the value of this "cost-effective asset"
Back in the 1970s, adjusting companies were primarily partnerships and did not have the "shareholder expectation" that presently exists.
In fact, not a great deal had changed since 1790, when the first
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