Which of the following statements is NOT true about an insurance adjuster?

The statement regarding an insurance adjuster receiving their authority through a written contract is not true. Insurance adjusters typically do not have their authority explicitly granted through written contracts with insurers in the same way that agents do. Instead, they operate under the authority granted to them as part of their employment by the insurance company or as independent adjusters who have certain powers to negotiate and settle claims on behalf of the insurer.

In contrast, an insurance adjuster is expected to exercise reasonable judgment, considering the interests of both the insurer and the claimant. This balance is crucial to ensure that claims are settled fairly and accurately. The power to bind an insurer when settling claims can be given to adjusters, particularly those in certain roles or with specific authority, which reflects their role as an agent of the insurer in the claim process. Thus, understanding the nature of an adjuster's authority and responsibilities is essential for anyone preparing for a role in the insurance industry.