What is the difference between a Loss Adjuster and a Loss Assessor?
This is a very common question for people who are experiencing a property claim for the first time. In summary the Loss Adjuster works on behalf of the Insurance company and a Loss Assessor works on behalf of the policyholder. We explain in further detail below to help you understand. Firstly we will explain the role of the Loss Adjuster. The Loss Adjuster is appointed by the Insurance company to deal with the claim on their behalf and is supposed to be impartial and independent however unfortunately this is seldom the case. The Loss Adjusters fees are paid by the Insurance company and they also instruct Loss Adjusters on how exactly they should settle claims and also most Insurers provide Loss Adjusters with very strict guidelines as to what they can pay out. If Loss Adjusters do not abide by these instructions then they would not be keeping their clients, The Insurance Companies, happy and would therefore have to suffer the consequences. It is not widely known but some Insurance companies keep league tables on Loss Adjusting companies to compare their performances and those who are higher on the league tables invariably receive a greater portion of their business. In the light of this it is particularly difficult for a Loss Adjuster to remain independent.