Fla. CFO Reports 5th Arrest of Unlicensed Public Adjuster Working in Hurricane-Damage Area

October 18, 2004

A Pennsylvania man working in the Fort Myers, Florida area was arrested by investigators with the Department of Financial Services on a charge of operating as a public adjuster without a license.

Albert E. McBride III, 36, of Prospect Park, Pa., is the fifth unlicensed public adjuster arrested in hurricane-hit areas and the second arrest of an individual working for Young Adjustment Company Inc. out of Blue Bell, Pa.

His arrest followed an investigation and undercover operation by the Department of Financial Services’ Division of Insurance Fraud and Bureau of Agent and Agency Investigations. The investigators worked closely with Nationwide Catastrophic Claims Adjusters.

Investigators obtained an insurance claim settlement contract that McBride allegedly presented to a consumer, and the contract form had no percentage rate to be paid to the adjuster, information required by law to be included.

McBride was booked in to the Lee County Jail and, if convicted on the third-degree charge, faces up to five years in prison.

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