ANSWERS: 1
  • Insurance adjusting is necessary when a person or a business puts in a claim with an insurance company, asking for payment to cover damages or money lost because of some event they were insured against. This job is done by insurance adjusters.

    Research

    Research is one of the first steps after a claim is received. An adjuster needs to research the people involved and make sure their insurance policies cover them for the claim.

    Investigating

    An adjuster investigates the details of the event by interviewing those involved and any witnesses, and by looking over and photographing the scene of the event, such as a car crash or a house fire.

    Assessing

    The adjuster assesses the situation by going over the evidence to determine whether the claim is valid.

    Estimating

    If the claim is warranted, the adjuster determines how much money will be awarded by estimating the cost of repairing or replacing property, medical care, funeral costs or other costs such as car rental.

    Settling

    Settling involves awarding the claim and having the person or business sign a document stating the claim is complete. If the person or business is not willing to sign, the adjuster might make a better offer, or might pass the case to a senior adjuster or an insurance lawyer.

    Source:

    Bureau of Labor Statistics: Insurance

    Dictionary.com: Adjusting

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