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Loss Adjusters- How important are independent loss adjusters to insurance company
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Posted On :
Feb-18-2011
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Article Word Count :
402
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Loss Adjusters are of great value to the insurance company they work for. But their importance depends upon the size and location of the insurance companies claims offices. Many insurance companies do not have their own field adjusters in all of their territory. That is where the independent adjusters come in; they provide the field investigations in the areas where company does not have field adjuster.
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As the policyholder, you have the right to know about the insurance industry’s best kept secret- Insurance Loss Adjusters. The insurance companies have their representatives; you need someone whose loyalty is entirely to you. Loss Adjusters play a vital role between claimant and insurer.
Loss Adjusters are of great value to the insurance company they work for. But their importance depends upon the size and location of the insurance companies claims offices. Many insurance companies do not have their own field adjusters in all of their territory. That is where the independent adjusters come in; they provide the field investigations in the areas where company does not have field adjuster
Using an independent adjuster allows the insurance company to have face to face contact with the people involved in the claim. This makes for better investigations and lessens the chances of people trying to embellish their claim. Independent adjusters are usually more skilled than their insurance company clients. Without Insurance Loss Adjusters, an insurance company would have to fly their claims people to the location of any field investigation. Since the in-house claims representatives can handle more items a day that mean those items back up when he is out of the office.
They provide the ability to handle temporary increases in claim volumes without having to hire and pay staff adjusters. The large companies tend to have nationwide staff that can be used to pickup temporary increases in one area.
Basically, Insurers appoint loss adjusters in order to assess your claim from an impartial point of view, addressing the concerns of both the policyholder and the insurer, with the aim of achieving a fair outcome to the benefit of both parties, within the terms of the policy. Insurance companies usually appoint loss adjusters on any claim over a set value, often as little as £500. Your insurance company does want to pay your claim. In most cases, they do not have staffs that carry out external visits so they appoint an outside party.
The need of Loss Adjusters is mainly highlighted at the time of a major loss. Whether the loss arises due to a large fire outbreak or flooding or a major environmental incident, the loss adjusting profession has resources available to respond within hours to meet claimants’ needs. This may involve working unsocial hours, often in dangerous circumstances.
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Article Source :
http://www.articleseen.com/Article_Loss Adjusters- How important are independent loss adjusters to insurance company_53205.aspx
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Author Resource :
Meenakshi is a professional writer and she has been writing articles for last two years. Currently she is writing on Loss Adjusters.
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Keywords :
Loss Adjusters,
Category :
Finance
:
Insurance
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