What Are Loss Adjusters?

Loss adjusters are the Sherlock Holmes of the insurance business.

In the event of a claim over £1,000, it's likely that your travel insurance company will instruct their very own Sherlock - an independent loss adjuster or their own claims inspector/handler - to investigate.

A Fair Price?

It's the loss adjuster's job to look at your travel insurance claim from every angle and put a fair price on it.

It could be the loss of your designer wardrobe or losses resulting from your hotel going up in flames.

People have mixed feelings about loss adjusters and many claimants don't think they're on their side.

Independent?

Well, they're usually hired by the insurer for a start, so it's hard to view them as independent.

Plus the insurance company pays for their report and you don't get to see it.

Insurance companies can appoint a loss adjuster for a claim of as little as £1000 although often nowadays they get their own in-house claims service to deal with these.

Questions, questions ...

The questions your friendly neighbourhood loss adjuster needs answering are straightforward -

• Is your travel insurance company liable, i.e., is the loss/damage in line with the terms of the policy?
• If yes, for how much? (i.e. the sums insured on the policy)
• If the travel insurance company isn't liable, why not?
• Is there someone else the travel insurance company could make a claim against (e.g. the other driver, if you were in a car accident abroad)?
• Is there anyone else that the travel insurance company can claim against (e.g. your household contents insurer)?

Provide Full and Prompt Information

Just remember that the loss adjuster is acting for the travel insurance company - not you.

It's your responsibility to submit a claim and to provide full and prompt information e.g.

• date of loss/accident
• invoices/receipts
• proof of ownership
• proof of value
• repair estimates, etc

Code of Conduct

Chartered Loss Adjusters work to a strict code of conduct and are expected to be impartial.

The Chartered Institute of Loss Adjusters is the voice of the loss adjusting industry

It has 1930 members across the UK and overseas and has its own complaints handling mechanism.

For more information, and a list of members, click on www.cila.co.uk.

Loss Assessors

Unlike loss adjusters, there’s no grey area when it comes to whose interest loss assessors are meant to be protecting – it’s yours, the policy holder.

But you have to pay them to fight your corner.

The best of the breed reckon they can increase policy payouts by up to 40%.

People tend to hire their services for larger claims of £5000 and upwards.

The sooner you hire them the better.

They’ll take on all the hassle and aggravation and relieve you of the job of preparing the paperwork.