Insurance Adjusters Law and Legal Definition
Insurance adjusters refers to those persons who investigate insurance claims by interviewing the claimant and witnesses. They help in inspecting property damage to determine the extent of a company’s liability. It is also known as Loss adjuster. Insurance adjuster should be aware about the property damage claim which the insurance adjuster should also be aware of depreciation, replacement costs, and actual cash value, that may be unknown to the policyholder.
The following is an example of the state statute (California) which defines insurance adjuster:
Cal Ins Code § 14021 defines insurance adjuster as a person other than a private investigator who, for any consideration whatsoever, engages in business or accepts employment to furnish, or agrees to make, or makes, any investigation for the purpose of obtaining, information in the course of adjusting or otherwise participating in the disposal of, any claim under or in connection with a policy of insurance.
Legal Definition list
Related Legal Terms
- Accelerated Life Insurance Benefits
- Accident Insurance
- Accidental Death and Dismemberment [Insurance]
- Accommodation Line [Insurance]
- Accountants Professional Liability Insurance
- Accounts Receivable Insurance
- Actual Cash Value Insurance
- Actual Delivery of Insurance Policy
- Actuarial Documents [Federal Crop Insurance Corporation]
- Actuarially Appropriate [Federal Crop Insurance Corporation]