Chartered loss adjuster
Financial

Chartered loss adjusters are often contracted out by specialist loss adjustment firms. Those who enter the profession often choose to specialise in either commercial or domestic claims.

Work Activities

Typical duties include:

  • advising both insurance companies and informing policy holders on the progress of claims
  • checking that the insurance policy will cover the costs
  • assessing the extent of physical damage caused by incidents such as fire or theft
  • recommending repair and prevention techniques to avoid further losses
  • interviewing claimants/employees/security staff for evidence about possible causes
  • obtaining valuation certificates and reports from the police/fire service
  • arranging the cleaning and repairing of claim scenes
  • requesting expert reports from specialists, such as forensic investigators
  • negotiating settlement payments
  • compiling post-investigation reports
  • investigating suspected fraudulent claims
  • liaising closely with the insurance company

Personal Qualities and Skills

Key skills for chartered loss adjusters

  • Excellent time-management
  • Decision-making skills
  • Numerical skills
  • Analytical skills

Pay And Opportunities

Typical employers of chartered loss adjustors

  • Loss adjusting firms
  • Insurance and reinsurance companies
  • Risk and claims management companies
  • Major private and public companies

Vacancies are advertised online, by recruitment agencies and careers services, in newspapers and specialist publications including Insurance Times, Insurance Week, Post Magazine and their respective websites. Early applications are recommended for larger firms that operate training schemes. Speculative applications, relevant sector/company research and networking are also advisable.

Qualifications

Qualifications and training required

A degree in any subject is acceptable for entry into the profession. Although employers that specialise in a technical field, such as construction and engineering, may prefer a surveying, construction or engineering degree. Relevant experience gained through vacation work and placements can be beneficial, but it can be difficult to get. Employers also value integrity and observational skills. Newly employed graduates are encouraged to qualify as a chartered loss adjuster. To qualify as a chartered loss adjuster, examinations from the Chartered Institute of Loss Adjusters must be passed, and five years' experience at an independent loss adjusting firm must be obtained.

Other entrants possessing approved professional qualifications are required to work for at least two years for an independent loss adjuster prior to taking the examinations. Typically it takes three to four years to qualify for individuals with approved professional qualifications and six to seven years for new graduates.

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