ADJUSTERS Meaning and
Definition
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Adjusters are professionals who assess, investigate, and analyze insurance claims to determine the appropriate compensation that should be awarded to policyholders based on their coverage. They act as intermediaries between the insurance company and the claimants, specifically working to investigate and negotiate resolutions for claims.
These professionals are trained to evaluate the extent of damages, whether to property or persons, caused by covered events such as accidents, natural disasters, or other unforeseen incidents. Adjusters ensure that the compensation amount awarded aligns with the terms of the insurance policy and the damages incurred by the claimant.
To accurately assess the claim, adjusters not only inspect the damages but also gather relevant information from the claimant, witnesses, and sometimes legal experts. They use this information to determine liability, policy coverage, the value of the claim, and any necessary approvals or settlements with the claimant.
Adjusters may work directly for the insurance company as staff adjusters or on a contract basis as independent adjusters. Staff adjusters are permanent employees and handle claims solely for the company they work for, while independent adjusters may work for multiple insurers or handle claims on a contract basis. Both types of adjusters aim to ensure a fair and prompt resolution for all parties involved in an insurance claim.
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Other Common Misspellings for ADJUSTERS
Etymology of ADJUSTERS
The word "adjuster" has its origins in the Middle English term "adjusten", which in turn stems from the Old French word "ajoster", meaning "to prepare" or "to adjust". This Old French term is derived from the Latin word "adiustare", which carries the same meaning.
Similar spelling words for ADJUSTERS
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