Loss adjuster
Applies the wording to the facts and recommends the settlement.
Definition
An independent professional instructed by the insurer to investigate a claim, establish the facts, apply the policy terms and recommend what should be paid. On cargo the adjuster typically works from the surveyor's report, the transport documents, the commercial invoice and the packing evidence. A general average adjuster is a distinct specialism, apportioning contributions under the York-Antwerp Rules.
Why it decides money
The adjuster is not the insurer's advocate, and giving them complete documents early is the fastest route to settlement.
Related terms
- Survey and surveyor
- Independent inspection that establishes what happened and how much.
- General average
- A shared bill when something is sacrificed to save the whole venture.
More in claims and recovery
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