Average Paid Salary for a Catastrophe Adjuster

Catastrophe adjusters are independent claims adjusters who offer their services to insurance companies at times when the workload exceeds what the companies' adjusting staff can adequately process, most commonly following major disasters such as earthquakes, floods or hurricanes.

Salary

• Claims adjusters, examiners and investigators earned, on average, wages of $28.26 per hour or $58,870 per year, the May 2009 occupational and wage survey by the Bureau of Labor Statistics (BLS) found. Glassdoor reports that, based on a survey of two people, catastrophe adjusters made an average of $47,773, with a salary range of $34,000 to $62,000. Bonuses amounted to $23,000 to $25,000.

Considerations

• Insurance adjusters can either work as staff adjusters or independent adjusters, according to AdjusterPro. Independent adjusters perform work on a contract basis for companies who need more adjusters, such as in the wake of a natural disaster. At these times, AdjusterPro says, independent adjusters may earn $500 to $1,500 per day, resulting in annual incomes in excess of $100,000. Payment is on a per-claim basis, with the payment a percentage of the settlement amount.

Precautions

• Catastrophe adjusters may work as many as 70 to 90 hours per week following a major disaster, but their pay schedules can be erratic, with periods of little or no work. AdjusterPro recommends independent adjusters keep at least $5,000 for expenses as it may take a few weeks following the onset of work after a disaster before their first paycheck is received.