Claims Adjuster

AAA

DEFINITION of 'Claims Adjuster '

Someone who investigates insurance claims to determine the extent of the insuring company's liability. Claims adjusters may handle property claims involving damage to structures, and/or liability claims involving personal injuries or third-person property damage. A claims adjuster reviews each case by speaking with the claimant, interviewing any witnesses, researching records (such as police or medical records) and inspecting any involved property.

INVESTOPEDIA EXPLAINS 'Claims Adjuster '

Claims adjusters review insurance claims to verify the claim and to determine a fair amount for settlement. For example, if an insured homeowner makes an insurance claim due to a tree falling on the house, a claims adjuster would interview the claimant (homeowner) and any witnesses and inspect the property to determine the extent of the damage, and the costs of repairing the property. The claims adjuster then submits to the insurance company documentation describing the incident and recommendations for the claim amount (how much money the insured will receive from the insurance company to repair the property).

RELATED TERMS
  1. Claims Reserve

    The claims reserve is money that is earmarked for the eventual ...
  2. Insurance

    A contract (policy) in which an individual or entity receives ...
  3. Actuarial Risk

    The risk that the assumptions that actuaries implement into a ...
  4. Homeowners Insurance

    A form of property insurance designed to protect an individual's ...
  5. Actuarial Gain Or Loss

    Gain or loss arising from the difference between estimates and ...
  6. Insurance Underwriter

    A financial professional that evaluates the risks of insuring ...
Related Articles
  1. Home & Auto

    Insure Your Future With A Career As An Actuary

    If you've got excellent math skills, they can add up to a lucrative career as an actuary.
  2. Active Trading Fundamentals

    Operational Risk: A Must-Know For Investors

    This type of risk is often overlooked, but it can mean the downfall of a company - and its investors.
  3. Insurance

    What are some examples of unexpected exclusions in a home insurance policy?

    Learn about commonly excluded perils with different standard insurance policies. Explore events that homeowners should consider when purchasing insurance.
  4. Insurance

    What are the tax implications of a life insurance policy loan?

    Learn the instances in which you are required to pay taxes on a life insurance policy loan, so you can avoid making a costly mistake.
  5. Insurance

    What's the difference between renter's insurance and homeowner's insurance?

    Renters insurance and homeowners insurance offer similar benefits for occupants and homeowners, but in different ways and for different reasons.
  6. The ACA is likely to continue to stir up controversy for some time.
    Insurance

    How the Affordable Care Act Changed Insurance

    6 Ways Obamacare Impacts the Health Insurance Marketplace
  7. Most people should only consider mortgage protection life insurance as a last resort.
    Insurance

    Why You Don’t Need Mortgage Protection Life Insurance

    Mortgage protection life insurance sounds great in concept - a guarantee that your mortgage will be paid off if you die unexpectedly. But take a hard look at what you get before choosing it.
  8. Retirement

    What's the difference between Social Security Disability Insurance (SSDI) and Supplemental Security ...

    Both Social Security Disability Insurance and Supplemental Security Income are administered by the Social Security Administration, but there are distinct differences between the two benefits.
  9. Home & Auto

    The Beginner's Guide To Homeowners' Insurance

    Discover everything new homeowners need to know before they sign on the dotted line.
  10. Warren Buffett
    Stock Analysis

    How Warren Buffett made Berkshire Hathaway a World-beater

    It would almost be easier to list the industry sectors in which Omaha-based Berkshire Hathaway Inc. (NYSE:BRK.A) doesn’t turn gargantuan profits.

You May Also Like

Hot Definitions
  1. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  2. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  3. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
  4. Special Administrative Region - SAR

    Unique geographical areas with a high degree of autonomy set up by the People's Republic of China. The Special Administrative ...
  5. Annual Percentage Rate - APR

    The annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents ...
  6. Free Carrier - FCA

    A trade term requiring the seller to deliver goods to a named airport, terminal, or other place where the carrier operates. ...
Trading Center