Role of a LOSS ADJUSTER

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Role of a LOSS ADJUSTER
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Introduced by

• Alison Gamble BA (Hons) Dip CII
• Technical Marketing Manager

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Basic outline

• Investigate and manage the settlement of
  insurance claims
• Typically appointed by insurance companies
• Collate the facts about a loss and make
  recommendations about how to settle the claim
• Oversee whatever action is required to conclude
  the claim

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Collating the facts

• Meeting with the Insured
• Purpose
• To establish the nature of the risk
• Moral Physical Features
• Value at Risk
• Warranties and Special features
• To establish the background circumstances of
  incident so that we can determine whether or not
• there is an admissable claim under the Policy
• To provide advice to the Insured and explain the
  claims process

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Collating the facts - Fire

• Definition of Fire
• Actual ignition
• Something on fire that should not be
• Time day date of discovery whom/how
• Circumstances
• Point of origin
• Cause
• Spread Stop
• Extinguishment
• Nature extent of damage
• Adequacy of sums insured

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Collating the facts - Fire
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Collating the facts - Flood
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Is it covered?

• Insurance policy is the contract
• Principles of insurance and insurance law
• Financial Ombudsman Service
• Potential for fraud

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Dealing with the claim

• Validating the extent of loss
• Deciding the best course of action
• Overseeing the conclusion of the claim
• Pursuing a recovery or contribution

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Skills required

• Flexible and able to deal with different
  situations
• Confidence to control the visit
• Calm and able to think under pressure
• Enquiring mind and attention to detail
• Good with people

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Professional qualifications

• Recruitment, Training Qualifications
• Rare to begin as an Adjuster
• Diverse backgrounds
• Certificate Level 3
• Diploma Level 3
• Chartered status Level 7
• Work toward Associateship
• C.P.D. required
• 5 years Fellow

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Role of a LOSS ADJUSTER