Role of a LOSS ADJUSTER

1. Role of a LOSS ADJUSTER

2. Introduced by Alison Gamble BA (Hons) Dip CII Technical Marketing Manager

3. 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

4. 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

5. 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

6. Collating the facts - Fire

7. Collating the facts - Flood

8. Is it covered? Insurance policy is the contract Principles of insurance and insurance law Financial Ombudsman Service Potential for fraud

9. 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

10. 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

11. 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

12. Role of a LOSS ADJUSTER