Which statement is FALSE about the role of an adjuster as a fiduciary agent?

The assertion that an adjuster may not give the claimant materials showing how they arrived at a settlement amount is inaccurate because it suggests a lack of transparency and communication that is generally expected in the fiduciary relationship. A fiduciary agent, such as an adjuster, is obligated to act in the best interests of the client or claimant, which includes being open about the processes used to determine settlements. Providing materials that clarify how a settlement figure was calculated not only reinforces this role but also helps to build trust and understanding between the adjuster and the claimant.

In fiduciary roles, there are strict standards governing behavior. For instance, maintaining a lack of self-interest is paramount; the adjuster must prioritize the claimant’s interests above all else. Additionally, profiting from actions taken in their role as an adjuster without the consent of the involved parties can constitute a breach of fiduciary duty. Lastly, it is a fundamental expectation that an adjuster does not permit any conflicts of interest to compromise their ability to perform their duties properly. All of these aspects are crucial to ensuring that the adjuster fulfills their responsibility to act ethically and effectively on behalf of the claimant.