What is the primary function of a loss adjuster?

The primary function of a loss adjuster is to examine and validate claims made by policyholders after a loss or damage has occurred. They carry out a detailed investigation into the circumstances of the claim, assessing the extent of the loss and determining whether it falls within the terms of the insurance policy. This process includes gathering evidence, interviewing witnesses, and reviewing documentation to ensure that claims are legitimate and accurately represent the extent of the damage or loss. The loss adjuster plays a crucial role in the claims process by ensuring that claims are settled fairly and in accordance with the terms of the insurance agreement. This function is vital to maintaining the integrity of the insurance system and ensuring that policyholders receive the compensation they are entitled to while preventing fraudulent claims.

The other functions, such as collecting premiums, providing risk management advice, and underwriting new policies, are handled by different roles within the insurance industry, such as insurance agents or underwriters, and do not fall under the responsibilities of a loss adjuster.