adjuster


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Adjuster

A person appointed or employed to settle or arrange matters that are in dispute; one who determines the amount to be paid on a claim.

An insurance adjuster determines the extent of the insurance company's liability when a claim is submitted. A public adjuster is a self-employed person who is hired by litigants to determine or settle the amount of a claim or debt.

adjuster

n. an employee (usually a non-lawyer) of an insurance company or a adjustment firm employed by an insurance company to negotiate an early settlement of a claim for damages against a person, a business or public body (like a city). While a fair and responsible adjuster can serve a real purpose in getting information and evaluating the case for the insurance company, some adjusters try to make a settlement before the injured person has retained an attorney ("don't worry, we'll pay your bills. You don't need an attorney. He'll only confuse things."), get a statement from the injured without counsel, or delay the payout with the promise he/she will negotiate any reasonable demand, and then making an offer of payment that is absurdly low. Some insurance companies try to make the attorney deal with the adjuster which is cheaper than sending the case to defense attorneys. Adjusters also represent the company in approving settlements.

adjuster

noun arbitrater, interagent, interceder, interlocutor, intermediary, intermediate, intermedium, intervener, mediator, negotiant, reconciler
References in periodicals archive ?
The new program provides for real-time registration when companies need to bring in out-of-state adjusters to meet the needs of their customers in Connecticut, said the department.
All Oklahoma licensed public adjusters have been directed to charge their customers fees no greater than 10 percent of total claim settlement.
For collaboration, mature mobility-enabled technology such as video conferencing will allow adjusters to engage in real-time, location-specific handling, he added.
My client had $50k in UM coverage and told the adjuster that she was still treating; the adjuster had no idea of the adverse drivers' coverage, but still decided to ask the insured to sign a UM release.
Joiner said having a public adjuster, though, could reduce the number of lawsuits.
Trey Stone, CEO of Houston-based Guardian Equity Management, which owns and operates 3,500 apartments, says he hires a public adjuster for every claim that he estimates to be $50,000 or more, but says smaller owners may want to hire one for claims as small as $ 10,000.
In all instances, the figures do not include the amount the policyholder would have to subtract to pay the public adjuster.
By helping the adjuster set and maintain adequate claim reserves, you can minimize expenses and reduce the time you spend on each case, increasing your productivity.
Dave Charles, a public adjuster and president of Master Claims in New Jersey, says that every adjuster knows where their bread is buttered.
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