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insurance loss adjuster

Loss adjusters are independent claims specialists who investigate claims on behalf of insurance companies. They assess the causes of loss or damage, and make sure that the insurance claim is valid and covered by the policy. They can deal with all kinds of insurance claim, from damage to property by fire or flood, to loss through cases of theft or fraud.

 
After an insurance company has assigned them to a case, loss adjusters:
  • visit the site to survey the damage
  • make sure that the property is protected and secure, and arrange for any repairs to be made
  • interview the clients about the loss
  • gather more evidence, such as police or fire service reports, security camera footage or stock valuation certificates
  • request detailed reports from specialists such as building surveyors
  • if fraud is suspected, make further investigations such as examining company accounts or stock records.
After investigating, loss adjusters present a report to the insurers, recommending how much the insurer should pay out to settle the claim. They also explain their recommendations to the claimant, particularly in cases where the policy does not cover the loss. They may advise the claimant to take extra precautions, such as improved security, before reinsuring.

Hours and Environment

Loss adjusters usually work 35 to 40 hours a week. Their normal hours are usually 9am to 5pm, Monday to Friday, although they may work longer and unsocial hours during emergencies, or be on call during evenings and weekends.

 
Loss adjusters can be office-based or work from home. They spend much of their time visiting sites and claimants, so a current driving licence is essential. They may travel long distances around the UK and possibly abroad.
 
The job can be dirty, dangerous and possibly distressing, as they may have to visit locations like building sites, factories or train crashes within a few hours of an incident. In some cases they may need to wear safety clothing on site.

Skills and Interests

To be a loss adjuster you should:

  • have good powers of observation
  • have excellent written and spoken communication skills
  • be very tactful and understanding when dealing with claimants
  • have research skills and be able to analyse information
  • be self-motivated and able to work to tight deadlines
  • be able to absorb information quickly
  • be impartial and honest.

Entry

Most loss adjusters either have several years’ experience and qualifications in the insurance industry, or experience and professional qualifications from other relevant careers such as accountancy, law, surveying, building, engineering or risk management.

 
You can join the insurance industry as a claims technician or in a support role in a firm of loss adjusters (see the Insurance Claims Settler profile for entry requirements) and gain qualifications from the Chartered Insurance Institute (CII). You would usually begin with the CII Certificate in Insurance, followed by the Diploma in Insurance, then Associateship of the CII (ACII).
 
Although loss adjusting is not normally an entry-level job, some larger companies may run graduate training schemes for new entrants. You will usually need a good degree (class 2:1 or above) in a degree like business, management, law, accounting, economics, surveying or engineering.
 
If you are aged between 16 and 24 you may be able to enter the insurance industry through an apprenticeship programme. However, you would still need to achieve CII qualifications and have several years’ experience before being able to progress to becoming a loss adjuster.
 
To find out more about Apprenticeships (level 2) and Advanced Apprenticeships (level 3) in England, visit www.apprenticeships.org.uk. Apprenticeships may be different in other areas. For further information see Scotland , Wales and Northern Ireland.

Training

You will usually train on the job working with an experienced loss adjuster. Larger insurance companies and firms of loss adjusters may run structured training schemes.

 
You will also study for professional qualifications from the Chartered Institute of Loss Adjusters (CILA). To enter CILA exams, you must:
  • be aged 21 or over
  • have a qualification approved by the CILA – either an insurance qualification such as the CII Diploma in Insurance or ACII, or a professional qualification from another related career such as accountancy, law, building, architecture, surveying or engineering
  • have at least two years’ experience in insurance claims or working for a firm of independent loss adjusters.
You must pass three CILA exams, which usually takes three to four years. You can study part-time or through distance learning. After passing the CILA exams and a professional accreditation of competence (ALS), you will become a Licentiate member of CILA.
 
Most loss adjusters go on to achieve Associate membership of CILA and gain Chartered Loss Adjuster status. For this you must:
  • be over 25
  • have passed the CILA exams and pass a professional accreditation of competence for Associateship (ACS)
  • have five years' experience in independent loss adjusting (or three years' if you have professional qualifications from another career).
Contact CILA for more details about examinations and membership.

Opportunities

Loss adjusters are employed all over the country, in:
  • insurance companies
  • insurance brokers
  • specialist loss adjusting firms
  • risk management departments in public sector organisations or private companies.
There are opportunities for self-employment.
 
Opportunities for loss adjusters are growing due to an increase in the number of claims being made. Contact the Financial Services Skills Council for details of skills shortages in the financial services sector.

Annual Income

Figures are intended as a guideline only.

Starting salaries are usually around £17,000 to £21,000 a year.
Qualified and experienced loss adjusters usually earn from £25,000 to £40,000.
Senior loss adjusters can earn £40,000 or more.

 
There may also be extra bonuses based on personal or company performance. Salary packages may include car, fuel allowance, pension and insurance benefits.

Further information

Peninsular House
36 Monument Street
London
EC3R 8LJ
Tel: 020 7337 9960
http://www.cila.co.uk
20 Aldermanbury
London
EC2V 7HY
Tel: 020 8989 8464
http://www.cii.co.uk
51 Gresham Street
London
EC2V 7HQ
Tel: 0845 257 3772
http://www.fssc.org.uk
http://www.insurancecareers.cii.co.uk
25 The North Colonnade
Canary Wharf
London
E14 5HS
Tel: 020 7066 1000
http://www.fsa.gov.uk

 

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