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By Eva Loayza | November 27th, 2012 - 4:28pm
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Assembly Democrats News Release

Green Will Introduce Bill to Prevent Public Adjusters in NJ from Overcharging Homeowners Following Claims of Price Gouging During Sandy

(TRENTON) - After hearing complaints from homeowners affected by Superstorm Sandy who claimed they were overcharged by public adjusters, Assembly Speaker Pro Tempore Jerry Green (D-Union/Middlesex/Somerset) today announced plans to introduce a bill that would cap how much a public adjuster can charge a homeowner for insurance claim assistance for certain emergencies.

Green said he decided to pursue the bill after hearing numerous complaints during a meeting in Union County from homeowners affected by Sandy who were overcharged by public adjusters hired to appraise their insurance claims. Public adjusters are experts on property loss adjustment who are retained exclusively by policyholders to assist in preparing, filing and adjusting insurance claims.

"Public adjusters are supposed to represent and look out for the best interests of the homeowner, but according to these residents, some of these adjusters were charging up to 40 to 50 percent of what the insurance company was to pay eventually. This is a crime. A loan shark doesn't even charge that much," said Green. "Unfortunately, there is nothing currently in the books to prevent these individuals from taking advantage of these homeowners. This bill changes that."

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"This is my first Mark Smith event. There have been a lot of changes in Hudson County over the last year and a half, and the most important change that has happened is that there really is unity. For the first time, we really are working together. Despite political differences. Mark and I have worked very hard to repair that. I'm really happy to be here in support of him, because I recognize that when you work together, politics becomes secondary and you really have time to focus on government, which is the most important thing." - Jersey City Mayor Steven Fulop

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