Adjuster
Definition
An insurance professional who investigates, evaluates, and settles insurance claims. Adjusters can be staff employees, independent contractors, or public adjusters representing policyholders.
Example
After a fire damages a commercial building, a staff adjuster from the insurance company inspects the property, reviews repair estimates, determines coverage, and negotiates a settlement with the policyholder.
In Practice
Adjusters must be licensed in most states and are regulated by state insurance departments. They must act in good faith and handle claims fairly. Staff adjusters work for insurance companies, independent adjusters work for multiple companies, and public adjusters represent policyholders. Adjusters document losses, assess damage, determine coverage, and negotiate settlements.