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The Role of a Loss Adjuster

The Role of a Loss Adjuster

Have you ever wondered what the role of a Loss Adjuster is and how they are involved in the claims process? Read on for answers to some common questions regarding the role of a Loss Adjuster and their role in approving a claim settlement.

Do all claims involve a Loss Adjuster?

Generally, a Loss Adjuster would be a claims specialist, appointed by, and working on behalf of, the Insurer to investigate major insurance claims. The types of claims a Loss Adjuster may be required for would perhaps involve a fire or flood at a business premises. Smaller, more straightforward claims would not necessarily require the services of a Loss Adjuster to achieve a settlement.

What does a Loss Adjuster do?

A Loss Adjuster would typically be involved with investigating the circumstances of the incident which led to the claim, gather evidence and assess the damage. For a major or contentious claim they would generally visit the site of the loss to compile a report for the Insurer. They would usually be looking to establish the cause of an incident leading to a claim and to determine whether the loss is covered by the insurance policy.

Who are they working for?

A Loss Adjuster works on behalf of the insurance company although they do follow a code of conduct which demands that they should be impartial. They are not appointed to provide advice to the person making a claim – simply to look at the loss suffered and the context of that loss to the relevant insurance policy.

How long does it take?

The time it takes for a Loss Adjuster to submit a report and recommendations will depend on the complexity and size of the insurance claim in question. Substantial losses can take some time to assess.

Can I appoint my own Loss Adjuster?

No. A Loss Adjuster will be appointed by the Insurer to investigate and report on the details of the claim. As the insured party, you can appoint a Loss Assessor to manage a claim on your behalf and attempt to negotiate the best settlement possible for your claim. A Loss Assessor is likely to be an insurance professional who has a good understanding of how claims are dealt with and would be able to help you throughout the process. The services of a Loss Assessor would be at the client’s own cost.

Here at GM insurance, we pride ourselves on our customer service and do all we can to assist insurers and clients with any claims as part of our ongoing commitment and service (in much the same way as we have described a Loss Assessor above).

For more information on how we can help with your business insurance needs and the added value our brokerage can bring to the claims process on behalf of our clients, have a look at our blog post ‘Case Study – Aviva Claim’. If you would like to discuss your requirements with us or have any other questions relating to insurance for your business – just get in touch.

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