An Independent Adjuster is an independent insurance claims professional usually retained as a representative of an insurance company. An Independent Adjuster is not an employee of the insurance company. He/She is self employed or an employee of an independent adjusting firm.
- Explain the claim process and review the terms of the insurance policy with the policyholder or claimant.
- Investigate the claim, make recommendations and report to the insurer
- Arrange for an automobile appraiser, a property damage estimator/contractor or other technical or medical expert that may be required to assess the extent of the damage or injury.
- Negotiate settlement and request payment from the insurance company.
- Prepare or have executed the required forms such as Proof of Loss, Final Release, etc..
- At all times, the independent adjuster works as a professional, organizing a team of other professionals and experts to arrive at a fair and equitable settlement of a claim.
An Independent Adjuster:
- Will complete a series of Insurance Institute courses and continuing education requirements
- Is licensed by the Provincial or Territorial Government regulator
- Will maintain Error and Omissions Insurance coverage
- Will uphold the Federal, Provincial, or Territorial Government privacy policy
Typically brokers sell insurance and do not handle claims. Insurance companies frequently retain an Independent Adjuster for workflow considerations or for their specific expertise.
Although retained by the insurance company, it is the Independent Adjuster's responsibility and duty to conduct a thorough and unbiased investigation and recommend a fair and equitable settlement of the claim while adhering to a defined Code of Ethics and fair practice policies.
The Independent Adjuster is paid by the insurance company. His/Her fee is separate and distinct and has no impact on the amount paid to you for the settlement of your claim.
The Independent Adjuster will assist you in obtaining estimates. However, as the owner of the property you must authorize the repairs and ensure they are done correctly.
This can be an option for you and can be discussed with the adjuster. However, many insurers have preferred vendors who offer guarantees on their work as part of the program.
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