Loss Adjuster / Loss Assessor
What is in a name?
Historically, in the UK Insurance industry, Chartered Loss Adjusters and Adjusting companies represented the Insurance Company's interest. Policyholders could, if they so wished, obtain support in the presentation of their claim from a Public Loss Assessor. Since the Millennium the industry has changed. Chartered Loss Adjusters now regularly represent Policyholders/Insureds in the presentation of their claims. Today many Adjusters and traditional Assessors work within the same organisations, sharing their technical and personal skills to ensure that the Claims' Industry is well balanced to give all parties equal access to high quality professionals.
REPRESENTING THE INSURER:
The Insurance Loss Adjuster
Your Insurance company will usually engage a Loss Adjuster whose main purpose is to protect the Insurance company’s interests, check the validity of your claim and mitigate their exposure to cost. Some Loss Adjusters have achieved the gold standard of Chartered status. Others have lesser qualifications, or none. In all cases they are under the umbrella of Insurers regulatory protection.
Frequently Insurance claims are rejected by the Loss Adjusters interpretation of non-disclosure of material facts presented by the Policyholder at the commencement or renewal of the Insurance contract. Sometimes this is for a breach of a relevant condition or warranty in the small print.
The Insurance company's appointed Loss Adjuster is trained to look for these and his fees for this are paid for by the Insurance Company.
REPRESENTING THE INSURED:
The Policyholder's Loss Assessor
The Insured can appoint a Loss Assessor who provides a professional service at a small cost to the Policyholder to protect that party's interests.
The Insureds professional representative will challenge any attempt to repudiate a claim. A Loss Assessor will prepare and present an Insured's Claim which will include all pertinent affected policy items including business Interruption and material damage, as appropriate.
The recovery of any un-insured or under-insured losses might also be pursued, dependent upon the available evidence.
It has been reported in the Financial Mail that the Insured's Adjuster/Assessor might obtain up to 30% more then if the claim is handled personally.
REMEMBER It is YOUR responsibility to justify, prepare and present
the claim to the Insurance company or their Loss Adjusters.