What does the term "Adjusting" refer to?

The term "Adjusting" specifically refers to the process of evaluating and settling insurance claims. In the context of the insurance industry, adjusters are responsible for investigating claims made by policyholders, assessing the damage, and determining the extent of the insurer's liability. This involves collecting evidence, interviewing witnesses, and reviewing documents to arrive at a fair and accurate settlement figure.

Understanding this process is crucial for insurance adjusters as it directly impacts the outcome for both the policyholder and the insurance company. The role is centered around ensuring that claims are handled properly and that all parties receive what they are entitled to, based on the policy terms and conditions. Thus, the definition aligns perfectly with the core responsibilities of an adjuster in managing claims effectively.