In the event of a claim, the insured, whether a co-owner or a syndicate of co-owners, must declare its occurrence to his insurer. The latter will generally appoint a claims adjuster who will guide him through the steps of the claim. The claims adjuster may also be mandated by syndicates of co-owners. This reality is even more true because of the importance of the insurance deductibles, sometimes unreasonable, that they have to bear, leaving them with all the responsibility of managing the loss. Investigating the circumstances of a disaster, assessing the damage caused by a claim and negotiating a settlement are the three key functions of this certified professional.
Disaster Investigation Process
The claims adjuster must:
Estimation of damage caused by a disaster
Negotiation of a settlement of the claim
In the field, the claims adjuster must be particularly rigorous and methodical in carrying out his investigations and accurately determining the circumstances of the claim. Sense of observation and analytical ability are essential qualities to practice this profession. In direct contact with the victims, he shows courtesy and diplomacy in order to gather as much information as possible. Thanks to his various skills, the claims adjuster has an expert capacity that allows him to establish his authority and conclusions in the context of a case.
Mandate your own claims adjuster?
The syndicate may, at its own expense, call on an independent claims adjuster, where its insurer is not involved in the case. This happens, inevitably, if the cost of repairing the damage is lower than that of the syndicate's insurance deductible. What's more, damages may not be covered due to a lack of insurance or warranty, a limit of coverage, a insurance limit or a denial of coverage. If this is the case, the syndicate must pay compensation. Such a claims adjuster may assist the syndicate, as a consultant, to help settle uninsured losses and the recovery of deductibles.
WHAT YOU SHOULD KNOW! The claims adjuster can practice as part of an expert firm or an insurance company. He was then hired as an employee. He can also move towards a liberal practice by creating his own consulting firm. In this case, the liberal insurance expert is mandated by customers whom he has solicited and retained.
WHAT TO KEEP IN MIND: The claims adjuster may practise as part of an expert firm or an insurance company. He was then hired as an employee. He can also move towards a liberal practice by creating his own consulting firm. In this case, the liberal insurance expert is mandated by customers whom he has solicited and retained.
WARNING! Claims settlement expertise is strictly reserved for holders of a claims adjuster's certificate issued by the Autorité des marchés financiers (the "AMF"). Thus, only a duly qualified person can use the title of claims adjuster. She works in a discipline that is specific to her: