Unveiling The Path To Becoming A Marine Insurance Adjuster

Marine insurance adjusters are responsible for investigating marine insurance claims to determine whether benefits should be paid out. To become a marine insurance adjuster, you'll need to complete secondary school and likely some post-secondary education, as well as several years of on-the-job training and insurance industry courses. Many states also require licensing for marine adjusters, and you may need a certification to stand out among your peers. This career path offers excellent earning potential, with annual earnings in excess of $100,000 for independent claims adjusters and salaries ranging from $45,000 to $80,000 or more for staff adjusters.

Complete high school, then a bachelor's degree or college diploma

To become a marine insurance adjuster, you'll need to complete high school, and then a bachelor's degree or college diploma. This is the minimum educational requirement for this career path.

A bachelor's degree is not always necessary, but it can set you apart from other candidates when applying for jobs. If you don't have a degree, you may want to consider gaining some post-secondary education or work experience in the insurance industry to boost your application.

The role of an insurance adjuster is to investigate claims and determine an insurance company's liability. They work across a range of insurance settings, including automobile, health, life, and property insurance. Marine insurance adjusters specifically handle claims relating to loss or damage of ships, boats, and their cargo.

To become a certified marine insurance adjuster, you will need to take six classes, including ocean marine insurance, inland marine insurance, the legal environment of insurance, and the foundation of risk management. You will also need to take an examination to obtain your certification.

In addition to education and certification, you will also need strong soft skills, such as self-discipline, work ethic, and communication skills, to excel in this career.

Gain experience as a clerk in the claims department

Gaining experience as a clerk in the claims department is a great way to get a foot in the door in the field of marine insurance adjusting. This role will give you valuable insight into the day-to-day operations of the claims process and help you develop the skills needed to become a successful adjuster. Here are some key things to keep in mind as you gain experience as a clerk:

• Understand the claims process: As a clerk, you'll have the opportunity to learn about the different steps involved in handling a claim, from the initial reporting to the final settlement. This knowledge will be invaluable when you become an adjuster and are responsible for managing claims yourself.
• Develop strong organisational skills: Claims departments rely on accurate record-keeping and efficient processes. As a clerk, you may be responsible for tasks such as filing claims, organising paperwork, and maintaining records. These tasks will help you develop strong organisational skills, which are essential for adjusters when handling multiple claims simultaneously.
• Communicate with stakeholders: Effective communication is a critical skill for insurance adjusters, who regularly interact with policyholders, insurance companies, and other professionals. As a clerk, you may have the chance to communicate with these stakeholders, allowing you to develop your communication skills and learn how to handle sensitive or complex situations.
• Understand insurance policies: Familiarise yourself with the different types of insurance policies and coverages. This knowledge will be essential when you become an adjuster and need to interpret policies to determine an insurance company's liability in a given situation.
• Take initiative and be proactive: Stand out by taking initiative and going above and beyond your regular duties. Look for opportunities to assist adjusters with their work, whether it's gathering documentation for a claim or helping to organise claim files. This will not only make you a valuable team member but also provide you with hands-on experience in the adjusting process.
• Ask questions and learn from others: Working as a clerk in the claims department means you'll be surrounded by experienced professionals, including adjusters, examiners, and supervisors. Don't be afraid to ask questions and seek guidance from these individuals. They can provide valuable insights and mentorship, helping you develop a deeper understanding of the role and industry.

Take insurance industry courses and training

Marine insurance adjusters are responsible for investigating marine insurance claims to determine whether benefits are paid. To become a certified marine adjuster, you must take six classes, including courses in ocean marine insurance, inland marine insurance, the legal environment of insurance, and the foundations of risk management, insurance, and professionalism. The remaining two classes consist of electives, including risk assessment, underwriting commercial property/liability, claim handling principles/practices, and insurance operations.

There are several training providers that offer in-person insurance adjuster courses, including:

• AAA Training Unlimited: Offers Texas all-lines and property and casualty (P&C) adjuster pre-licensing courses both online and in person. The course fee is $325.
• AB Training Center: Offers pre-licensing courses for those wanting to be an all-lines, P&C, or workers' compensation adjuster. In-person classes are available in some states.
• Claims Adjuster Academy: Offers pre-licensing, Xactimate, and continuing education courses both online and in person. Live classroom training costs $395.
• Claims Adjuster Training Institute: Boasts a comprehensive lineup of insurance adjuster courses, from pre-licensing to continuing education. The Texas all-lines pre-licensing course costs $399, and the Xactimate skill lab is priced at $499.
• Insurance Adjuster Now: Offers a range of courses that will train you to handle various claims, including large losses from hurricanes, hail, fire, and other disasters. One of its popular offerings is the four-day insurance adjuster course, which prepares students for catastrophe deployment. The course fee is $550.
• Mile High Adjusters: Provides in-person training in Texas and New Jersey. You can take a two-week insurance adjuster course to help you get a Texas all-lines adjuster license, which consists of four days of pre-licensing classes and three days of Xactimate training. These are priced at $599 and $499, respectively. The two-week course costs $1,590.
• MOCAT: Offers a full range of courses for those who want to become insurance adjusters. Its hands-on adjuster training course consists of four parts: practical policy, claims management, scoping damage, and estimatics (Xactimate training). The course fee is $2,995.
• The Adjuster Guy: Provides online and in-person training for the Texas all-lines adjuster license. It offers Licensing Basics and LicensingPlus in-person training for $699 and $1,299, respectively. Both courses run for 40 hours and end with the state licensure exam.
• The Adjuster School: Offers an in-person insurance adjuster course leading to a Texas all-lines license. It consists of a pre-licensing course at $349 and Xactimate certification preparation at $400.
• Veteran Adjusting School: Offers a six-week vocational training program preparing students to become professional insurance adjusters. The course consists of 230 hours of hands-on classroom and field training.

In addition to these in-person courses, there are also online training options available, such as the U.S. Career Institute's online Insurance Claims Adjuster program, which covers topics including types of insurance claims, communication skills, investigation, gathering evidence, creating reports, legal and ethical issues, and calculating estimates and settlements. The Maritime Training Academy also offers a Marine Insurance Claims course that covers all aspects of insurance claims, from the history and developments to legislative changes and different aspects of handling a claim.

Pass the insurance licensing exam

Passing the insurance licensing exam is a crucial step towards becoming a certified marine insurance adjuster. Here are some detailed instructions and tips to help you prepare for and pass the exam:

Know the Requirements:

Before you begin preparing for the exam, it's important to understand the prerequisites and requirements. Most states require insurance adjusters to obtain a license, and each state has its own specific rules and regulations. Check with your state's requirements to ensure you meet the eligibility criteria, which often includes a minimum education level of a high school diploma or GED equivalent. Some states may also require you to complete a pre-licensing course before you are eligible to take the exam.

Understand the Exam Format and Content:

The insurance adjuster exam will vary depending on your state. In Texas, for example, the All Lines Insurance Adjuster exam consists of 150 multiple-choice questions, while other states may have around 50-75 questions. The exam typically covers a range of topics, including property and casualty insurance, homeowner insurance, commercial lines coverage, inland marine, and additional coverages. Familiarize yourself with the exam content outline provided by your state to tailor your studies accordingly.

Create a Study Plan:

Developing a structured study plan is essential for effective preparation. Set aside dedicated time each week to focus on different aspects of the exam. Start by reviewing the ins and outs of insurance claims, damage assessment, and the roles and responsibilities of an insurance adjuster. Utilize study guides, flashcards, and sample questions provided by your state or third-party resources. If possible, consider enrolling in a test prep course or an instructor-led pre-licensing course to enhance your understanding of the material.

Practice with Mock Exams:

Taking practice exams is an invaluable part of your preparation. Treat these practice tests like the real exam by creating a similar environment without distractions. This will help you identify areas where you need further reinforcement and build your confidence. Pay close attention to the questions you answered incorrectly or found challenging, and focus your studies accordingly.

Stay Relaxed and Well-Rested:

In the week leading up to your exam, ensure you get ample rest and maintain a healthy diet. While studying is crucial, it's equally important to approach the exam with a calm and focused mindset.

Exam Day Tips:

On the day of the exam, give yourself plenty of time to arrive at the testing center, and remember to bring the required identification and any necessary documentation. Leave all prohibited items, such as electronic devices and study materials, at home or in your vehicle. During the exam, carefully read and understand each question before answering, and pace yourself to complete the exam within the allotted time.

By diligently following these steps and maintaining a disciplined study routine, you'll be well on your way to passing the insurance licensing exam and embarking on your career as a certified marine insurance adjuster.

Get a provincial licence

To become a marine insurance adjuster in Canada, you will need a provincial licence issued by the Superintendent of Insurance in the province or territory of employment. The specific regulatory body will depend on the province. For example, in British Columbia, this is the Insurance Council of British Columbia, whereas in Newfoundland and Labrador, it is the Financial Services Regulation Division, Service Newfoundland and Labrador.

Before you begin working, you may need to obtain a certification from a regulatory authority. To find out if this is necessary, research the certification process with the relevant regulatory body.

In terms of education, you will need a minimum of a high school diploma or GED equivalent. Although a bachelor's degree is not required, it may set you apart from other candidates.

In addition to education, you will need several years of experience as a clerk in the claims department or other general insurance experience. You will also need to complete several years of on-the-job training and insurance industry courses and training programs.

Once you have obtained your licence, you will need to maintain it through continuing education credits and/or regular license renewal. The specific requirements will depend on the province in which you are licensed.

Frequently asked questions