The duty of a loss assessor is to ensure
-
A.
adequate compensation to the insured -
B.
payment of premium to the insurer -
C.
that risk manager identifies the risk properly -
D.
that insurance broker collects commission
Correct Answer: Option A
Explanation
A Loss Assessor is appointed by the policyholder when they need to submit a substantial or complex claim.
Independent entity hired and paid by the insured (policy holder) to negotiate an insurance claim with the insurer (insurance company). The lossassessor receives a fee that is usually a percentage of the claim amount received by the insured.