An insurance professional who investigates and evaluates claims on behalf of an insurance company. The adjuster inspects damage, reviews documentation, interviews witnesses, and determines how much the insurer should pay for a covered loss.
Related Terms
Claim
A formal request made by a policyholder to an insurance company for payment or reimbursement for a covered loss or policy event. Filing a claim triggers the insurer to investigate the loss, assess damages, and determine what amount is payable under the policy.
Subrogation
The legal right of an insurer to pursue a third party that caused a loss to recover the amount paid on a claim. For example, if another driver is at fault in a car accident, your insurer may pay your claim and then seek reimbursement from the at-fault driver's insurer.
Proof of Loss
A formal, sworn statement submitted by a policyholder to the insurance company documenting the details of a loss and the amount being claimed. It typically includes descriptions of damaged property, estimated values, and supporting documentation such as receipts or photographs.