Loss Adjuster

A loss adjuster is a qualified professional who acts as an independent intermediary in the claims settlement process, appointed by the insurance company to investigate the circumstances of a loss, verify policy coverage, assess the quantum of damage, and recommend a fair settlement amount. In India, the role of loss adjusters is governed by the IRDAI (Insurance Surveyors and Loss Assessors) Regulations, and they must hold a valid licence issued by the IRDAI after passing prescribed examinations and meeting experience requirements.

While the terms 'loss adjuster' and 'surveyor' are sometimes used interchangeably in India, there is a practical distinction. Surveyors primarily assess the extent and quantum of loss, whereas loss adjusters take on a broader role that includes investigating the cause of loss, examining policy terms and conditions, verifying whether the claim falls within the scope of coverage, and negotiating the settlement between insurer and insured. Loss adjusters are particularly critical in complex commercial claims involving large industrial fires, major business interruption losses, liability disputes, and catastrophe events.

In the Indian market, loss adjusters are categorised by the IRDAI into different classes (A, B, and C) based on the value of losses they are authorised to handle. Category A adjusters can handle claims up to INR 50 lakh, Category B up to INR 5 crore, and Category C can handle claims of any value. For large corporate and industrial claims, Category C adjusters with specialist expertise in relevant lines of business are typically engaged. International loss adjusting firms with Indian operations -- such as those affiliated with global networks -- often handle complex cross-border and reinsurance claims alongside domestic adjusters.