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 a commission

Correct Answer: Option A

A. adequate compensation to the insured

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 (policyholder) to negotiate an insurance claim with the insurer (insurance company). The loss assessor receives a fee that is usually a percentage of the claim amount received by the insured.