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Claims Adjuster Definition
A claims adjuster refers to an investigator or individual who inspects an insurance claim to determine the degree of damage done to the insured property and the amount of liability the insuring company is exposed to.
There are other names a claims adjuster is called, these are an insurance adjuster or claims handler. The duty of a claims adjuster is to investigate all insurance or liability claims in order to determine the financial obligation the insurer is exposed to. To investigate an insurance, the claim handler needs to interview the claimant, witnesses and inspect the damaged property as well as check records documenting the damages.
A Little More on What is a Claims Adjuster
When talking of a claims adjuster, there are some words that describe his roles, these are ‘investigation’, ‘inspection’, and verification of insurance claims. The work done by a claims adjuster is crucial to the process of an insurance claim. It inspects the degree of damage done to an inured property and the liability of the insurance company. Insurance claims on damage done to structures, automobiles, vehicles and other personal property investigated by claims adjuster. This entails getting police report, interviewing the claimants, talking to witnesses and checking the degree of the damage. The findings of claims adjuster are documented are submitted to the insurance company that is responsible for the liability.
Claims adjusters are important to insurance companies because they determine how much damage is done to a property and the amount an insurance company is to pay for the damage. As their name implies, claims adjusters are often in the position or persuading property owners to receive less amount for the damages done, they are often on the side of the insurance companies than they are on the claimants.
There are professional qualifications of designations of claims adjuster, without qualification, an individual cannot be a claims adjuster. In the United States for instance, a claim adjuster is certified after earning the Accredited Claims Adjuster Designation (ACAD) as also undergo continuing education at two years interval.
For whom do claims adjusters work?
Insurance companies hire claims adjusters to help them investigate an insurance claim and ultimately adjust (reduce) the financial obligations resulting from the claim. Some claims adjusters work as freelancers and are at the beckon of any insurance company that needs their service for a specific claim. It is important to reinforce that in most cases, claims adjusters work in the best interest of their employers (insurance companies) and not the claimants. They often try to persuade claimants to accept less money than the degree of damage done to their property.
However, claimants can also have their claims adjuster to avoid being deprived of the appropriate coverage. Claimants who hire claims adjusters minimize losses because their adjusters act in their favor.