AVERAGE ADJUSTER / LOSS ADJUSTER

A B C D E F G H I J L M N O P Q R S T U V W Y Z
AVERAGE ADJUSTER / LOSS ADJUSTER — an independent expert or legal entity appointed by insurers to protect their interests when an insured event occurs. The adjuster determines the cause, nature, and extent of losses resulting from accidents or damage to insured cargo and vessels. The adjuster's name and contact details are typically specified in the insurance policy. Upon an insured event, the policyholder must contact the adjuster, who then issues an average certificate confirming the loss details. This certificate serves as the basis for the insurer to pay or deny the claim. The adjuster acts as an intermediary between the insurer and the insured.