A person appointed by an insurer to negotiate an insurance claim. The loss adjuster, who is independent of the insurer, discusses the claim with both the insurer and the policyholder, producing a report recommending the basis on which the claim should be settled. The insurer pays a fee for this service based on the amount of work involved for the loss adjuster, not on the size of the settlement. Compare loss assessor.
Subjects: Financial Institutions and Services.