Property claims glossary
What is an independent adjuster (IA)?
An independent adjuster (IA) is a licensed adjuster who works for an independent adjusting firm or on contract, handling claims on a carrier's behalf, most heavily during CAT surges. IAs let a carrier add field capacity quickly, so the carrier's guidelines and coverage standards have to travel with every file they handle.
Worked example · fictitious claim
After a hailstorm, a carrier assigns 1,000 claims to an IA firm at an average fee of $600 per claim. The fee bill is $600 × 1,000 = $600,000, an expense on top of the claims paid. Every file that needs reinspection adds to that figure.
How it affects a settlement
The IA usually recommends a payment that the carrier's staff reviews and approves, so the carrier keeps authority over what is paid. IA fees are an expense of the claim, and files that must be reworked add both cost and time.
In practice
A contract adjuster engaged by carriers, most heavily during CAT surges. Surge volume brings many adjusters onto one book at once, which is precisely when a consistent coverage check earns its keep: every IA file gets the same careful review.
Related
Adjuster · CAT event · Catastrophe claims surge · property claims glossary