CILA and its Members

The Great Fire of London in 1666 heralded the beginnings of the Loss Adjusting profession. Afterwards, with the introduction of fire insurance on buildings, independent surveyors and tradesmen were soon using their expertise in settling claims. By the late 18th century, the major fire insurers were appointing “assessors” to act for them exclusively and a number of today’s leading loss adjusting firms can trace their roots back to those early days.

The word “adjuster” was first used in 1941 with the founding of the Association of Fire Loss Adjusters. This was a grouping of prominent claims experts who found themselves actively involved in dealing with damage as a result of the bombing in World War II. The achievements of that association in monitoring standards and the conduct of members was recognised in 1961 by the granting of a Royal Charter and a name change to The Chartered Institute of Loss Adjusters. In 1979 the Institute received a Grant of Arms with its motto “Truth and Equity” which remain the key principles and ethos of the profession.

The role of the Chartered Institute of Loss Adjusters

• The Institute plays a pivotal role in leading the profession in the UK and overseas. With the backing of its members it ensures that the profession receives the high profile recognition it deserves.
• The Institute is self-regulating and totally committed to its core values of standard setting, examination and professional conduct.
• The Institute helps to shape the future of the profession.
• Its Committees and Specialist Interest Groups address key issues facing members and act as hubs disseminating information. It also has regular contact with National and European Government bodies and other insurance and business associations.

In recognising that firms increasingly need to work with professionals from other sectors, the Charter allows multi-disciplinary firms to carry the title Chartered Loss Adjusters and individual members have full qualification portability and can retain designatory letters letters subject to Charter requirements. This ensures that adjusters can offer the widest possible range of services to clients in whichever area they operate.

Membership

The Chartered Institute of Loss Adjusters is a members’ institute and not a trade body. Whilst the majority of members are employed by loss adjusting companies, many now work for Insurers, Insurance Brokers, Risk and Claims Management companies or major private and public companies. Many also act as claims advisers to policy holders in all sectors.

The standards of professionalism and integrity demanded by the Institute have led to its members being respected throughout the insurance world.

A changing world

The world is becoming ever more technical and sophisticated and loss adjusters are responding by consistently enhancing and developing new services. Those using the services of Chartered Loss Adjusters have the benefit of technical excellence and a very wide variety of fast and professional responses to insurance and other losses. Whether to handle major catastrophes, or one-off incidents, the services of Chartered Adjusters are available any time day or night.

Adjusters have always strived for an amicable, cost effective and fair settlement between the parties involved. This approach is now endorsed by the FSA who have set out as one of their fundamental principles that “Customers Should be Treated Fairly”. This means having a blend of technical competence, psychology, even-handedness and strong negotiating skills.

Chartered Adjusters are independent specialists who will add value to any insurance or business sector.

Adjusting skills

The primary function of a Chartered Loss Adjuster is to investigate, negotiate and agree the conclusion of insurance and other claims. Core skills include communication, negotiation and the ability to acquire and assimilate relevant information. Adjusters must also posses a sense of what is fair and act with even handedness. This must be backed up with a sound knowledge of the law, insurance contracts and general and specific knowledge of those areas likely to feature in claims. Added to this adjusters must be practical problem solvers – in other words people who can settle claims.

The range of insurance now available is extremely varied encompassing domestic and commercial risks anywhere in the world. Examples include physical damage to buildings and property (personal or business), interruption to business, agriculture and every type of legal liability in individual or business could incur. If you think of any activity from building spacecraft to football injuries, there will be an Insurer and an Insured involved who, when an incident occurs, will need specialist help and advice and Chartered Loss Adjusters are just such specialists.

Different skills are needed for different types of claims and a loss adjuster will often work alongside forensic scientists, accountants, engineers, architects, surveyors, valuers and lawyers. Some may be directly employed by adjusting firms or others as consultants. Many adjusters have other professional qualifications, and university degrees are now commonplace. However, experience and qualification as a Chartered Adjuster will provide value to any business and excellent career prospects.

The size of loss adjusting firms varies from companies with one or two loss adjusters to international firms employing large numbers of adjusters through a global network of offices.

Opportunities

There has never been a better time to qualify as a Chartered Loss Adjuster or to join a chartered firm if you have another suitable professional qualification. Qualification demonstrates the highest level of technical competence in the area of claims and is recognised and valued worldwide. Qualifications are now fully portable, which means the services of Chartered Adjusters will always be in demand across all insurance and domestic and business sectors.