loss adjustment

Loss adjustment refers to the process used by insurance companies to assess and determine the validity and value of a claim made by a policyholder after an incident, such as a fire, accident, or theft. This involves reviewing the details of the claim, inspecting the damages, and evaluating any relevant documentation. The goal is to ensure that the compensation offered fairly reflects the policyholder's loss according to their insurance policy. This process helps both the insurer and the insured reach a settlement that is just and in line with the terms of the insurance agreement.