Loss adjusting is an interesting and rewarding profession that requires you to think and act fast, apply specialist knowledge and skills and find creative solutions to problems. Read about some of the different loss adjusting roles on offer and find jobs that are available today.
Life as a business interruption (BI) adjuster is interesting and varied, despite not being something that many people would even have heard of let alone consider for their future career.
Much like other loss adjusting roles, the thrust of the job is to resolve insurance claims, primarily business interruption but also other financial risk claims, in accordance with a policy wording. The role offers opportunities to work with a wide range of businesses across the whole gamut of industry sectors. There isn't really a typical day, but a business interruption adjuster’s day might involve, any or a combination of the following:
In your duties as a BI adjuster, you will routinely liaise with policyholders, brokers, lawyers, and other specialists.
Minimising the financial impact of an incident may require actions such a change of working hours or practices, relocating or even the use of insurance funds to acquire a rival. Influencing these actions, monitoring and justifying them is a key component of the role.
Because of the need to understand and be comfortable with financial data, many BI adjusters come into the adjusting profession as qualified accountants and then train as Chartered Loss Adjusters. Alternatively, some BI adjusters qualify as Chartered Loss Adjusters first and then specialise in BI due to their natural interest in commercial matters.
Typically, a BI adjuster will start on smaller commercial claims and work up to more technically challenging and/or larger cases. Individual loss adjusting firms will have their own views on how to develop their BI specialists, but almost certainly, the end result will be a rounded commercially aware claims professional.