Adjuster Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Adjuster, written in plain English, along with examples of how it is used.
What is Adjuster?
n. a negotiator who talks out a damage settlement, like for an insurance company or an out-of-court settlement by mutual agreement between the parties involved. Adjusters could be good or bad to deal with depending on the intention of his working. Being a company’s employee an adjuster might try to settle the case in company’s favour, thereby not giving the person his due. Legal procedure being not involved this could harm one’s chances of getting justice or his fair due.
History and Meaning of Adjuster
An adjuster is a professional who is responsible for evaluating, negotiating and settling insurance claims. The role of an adjuster dates back to the beginning of insurance, where they were initially appointed for the primary purpose of assessing losses, losses incurred and directing settlement amounts. With the evolution of the insurance industry, the adjuster's role has expanded to include customer service duties, fraud investigation, claims management, and other activities. The adjuster's primary job is to work to settle disputes, negotiate with all parties involved, and act as the primary point of contact for the claimant.
Examples of Adjuster
- An insurance adjuster visits a home damaged by a storm to assess the damage and provide compensation to the homeowner.
- A worker is injured on the job and the employer's adjuster is responsible for evaluating the claim, determining what compensation is due, and negotiating with the employee on behalf of the employer.
- A car insurance adjuster assesses the extent of the damage to a vehicle and determines the amount of compensation that should be provided to an injured party.
Related Terms of Adjuster
- Claims Adjuster: A claims adjuster is a professional responsible for the settlement of insurance claims. They assess the damages incurred and make recommendations on compensation.
- Loss Adjuster: A loss adjuster is a professional hired by an insurance company to assess and settle large or complex claims. They typically work on behalf of the insurer and are responsible for negotiations and settlements.
- Public Adjuster: A public adjuster is an independent adjuster hired by an insured party to handle their claim. They negotiate with the insurance company, assess the damages and make recommendations to the insured party.