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 game 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 their interests, check the validity of your claim and mitigate the cost of the claim. Some Loss Adjusters have achieved the gold standard Chartered status. Others have lesser qualifications, or none.
Frequently Insurance claims are rejected, allegedly, for non-disclosure of material facts by the Policyholder at the commencement or renewal of the Insurance contract or for breach of a relevant condition or warranty.
The Insurance companies' appointed Loss Adjuster works upon the instructions of their Insurer principal. In this situation the Adjuster's fee is funded by the Insurance Company.
REPRESENTING THE INSURED:
The Policyholder's Loss Adjuster/ Loss Assessor
The Insured's appointed Loss Adjuster / Loss Assessor provide a professional service at the cost of the Policyholder to protect that party's interests.
The Insured's professional representative will challenge any dubious attempted repudiate a claim. Furthermore the Insured's Claim will include all pertinent all affected policy items including business Interruption, as appropriate.
The recovery of any un-insured all under-insured losses might 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.