It is not uncommon for policyholders to question the difference between a ‘Loss Assessor’ and ‘Loss Adjuster’.
In its simplest terms, an Assessor works for you – the policyholder – to “assess” your loss and secure the best settlement.
An Adjuster works for the Insurance Company to “adjust” the loss – usually ‘adjusting’ the loss downward – saving money for the Insurer, or avoiding paying the claim at all.
Loss Assessors are appointed by Policyholders – not the Insurer – to represent the Policyholder’s interests.
This means managing the claim from start to finish. Those claims can be as diverse as fires, floods, thefts, subsidence or burst pipes. Regardless of the (insured) cause, a Loss Assessor will handle every part of the claim process on the Policyholder’s behalf.
Loss Assessors will quantify the loss and negotiate a settlement that reflects the full entitlement. Assessors are experts in policy interpretation and they will leverage that knowledge to the client’s advantage. An Assessor will forge a relationship with their client that is built upon transparency, openness, confidence and dependability.
OMC Claims are Ireland’s leading Insurance Loss Assessors with a diverse team that has deep subject matter expertise and experience, located throughout the country.
In contrast, the Insurer, typically a multinational financial services company, employs Loss Adjusters to manage claims for them.
This will tell you that claims are a specialism within the insurance industry as a whole. It is useful to remember that the Adjuster is looking at the problem – your claim – from the Insurer’s perspective.
Loss Adjusters do not have your best interests in mind, they act on behalf of the Insurer. This is entirely legitimate, but it is also evidence that Policyholders need a professional to fight their corner, which is the role of the Loss Assessor.