The Role of Loss Adjusters, Surveyors and Forensics Insurance Companies

Loss adjuster is an expert in processing claims from beginning to end. Small direct claims are usually negotiated and settled by the insurance entity’s in-house staff claim. However, in the case of a larger claim or complex policy wording, the services of a loss adjuster will be used. You can learn to become an online adjuster easily with adjusterlicenseonline.com

Its functions are:

a. Investigation of the circumstances surrounding the claim

b. Determine whether and to what extent the policy covers losses

c. Facilitating any emergency measures, for example, protection of property rights, negotiation of claimed amounts

d. Negotiations with specialist suppliers, and

e. Make recommendations for settlement of insurance companies.

The insurance company will then consider the amount and, if satisfied, offer this amount to the insured.

They aim to negotiate a settlement, in terms of policies, that are fair to both the insurance company and the insured. An insurance adjuster is a member of their costs met by the insurance company that ordered them. Being an adjuster is a good career opportunity for you, and you can easily reach it through online courses at Adjuster License Online

 Surveyors and forensics provide services

Surveyors perform various functions on behalf of insurance companies, many of which are relevant for risk assessment. However, in this section, we will concentrate on the role of surveyors and that of other professionals about claims.

We must first define the term ‘forensics’: it means to bring to light in the public domain. Its application is most clearly seen outside the realm of insurance in these activities. The crime scene investigates to find physical supporting evidence. In principle, experts will use the same technique in a claim situation, to determine the exact cause of loss or damage. The insurer will hire specialists for different areas of investigation.

This area is very broad and includes starting:

– Build a position of fire and its origin

– Gather evidence that shows fraud or intentional action (for example a double seat fire)

– Determine whether a fire accelerator is used

– Determine whether the lack of maintenance contributes to damage

– Determine the proximate cause of the loss

– Build evidence showing that the exclusion of the policy operates (eg employee involvement in theft from the company)

– Determine whether a car has been damaged before or engine failure before the fire, and

– Check accounting documentation about claims of business interruption

You will note the similarity in several roles for tasks performed by insurance adjuster companies

However, what is done by forensic experts tends to be more specific in their focus and advice can be sought when an initial investigation of the circumstances surrounding the loss raises concerns. (It should be noted that many companies offer what they describe as ‘Forensic services’ to policyholders. These include claims handling and service management, independent advice, review of the adequacy of insurance arrangements, accounting, and dispute resolution services.)

A surveyor’s role (related to the claim situation) can involve:

• Advise on the immediate action needed after the loss (eg hiring a night watchman)

• Make recommendations for the required underwriting reduction measures (for example in theft covers until the place is sufficiently protected), and

• Determine whether the previous requirements suggested by the insurance company have been met.