Commercial Claims Adjuster Job Description [Updated for 2024]

commercial claims adjuster job description

In the fast-paced world of commerce, the role of commercial claims adjusters has become increasingly critical.

As businesses continue to evolve, so too does the demand for skilled professionals who can effectively navigate and manage the complex landscape of commercial claims.

So, let’s delve deeper: What’s truly expected from a commercial claims adjuster?

Whether you are:

  • A job seeker trying to understand the core responsibilities of this role,
  • A hiring manager determining the perfect candidate,
  • Or simply fascinated by the dynamic world of commercial insurance,

You’re in the right place.

Today, we present a comprehensive and customizable commercial claims adjuster job description template, designed for easy posting on job boards or career sites.

Let’s dive in.

Commercial Claims Adjuster Duties and Responsibilities

Commercial Claims Adjusters handle insurance claims for businesses and commercial properties.

They are responsible for investigating, evaluating, and settling insurance claims, often working directly with claimants and other involved parties.

The main duties and responsibilities include:

  • Investigate and assess property damage to determine the extent of the insurance company’s liability
  • Interview claimants and witnesses to gather information regarding the claim
  • Collect and review documentation such as police reports, medical treatment records, or property damage reports to support the claim
  • Work closely with legal counsel on claims when necessary
  • Consult with experts such as engineers, architects, or doctors to discuss claims
  • Negotiate settlements with claimants and issue payments
  • Keep detailed records of investigations and claim outcomes
  • Provide exceptional customer service, answering any questions the claimant may have throughout the process
  • Stay updated on industry laws and regulations, and ensure all claims handling is compliant

 

Commercial Claims Adjuster Job Description Template

Job Brief

We are seeking a detail-oriented and experienced Commercial Claims Adjuster to manage and resolve complex commercial claims in a timely and efficient manner.

Your responsibilities will include analyzing insurance claims, determining coverage, inspecting and assessing property damage, negotiating settlements, and keeping track of all claim-related data.

Our ideal candidate has a deep understanding of insurance policies and claims handling procedures, excellent negotiation skills, and a strong ability to manage relationships with clients and insurance carriers.

 

Responsibilities

  • Analyze and assess commercial insurance claims
  • Establish proof of loss by studying documentation submitted, conducting inspections, and engaging relevant experts
  • Calculate benefits and establish the claim’s reserve
  • Negotiate claim settlements and recommend litigation when settlement cannot be reached
  • Coordinate with legal counsel in the event of litigation
  • Maintain claim files by documenting all claim activity
  • Comply with regulatory and company standards for reporting and handling claims
  • Provide customer service to claimants and policyholders

 

Qualifications

  • Proven experience as a commercial claims adjuster or similar role
  • Excellent knowledge of insurance policies and ability to understand and interpret insurance contracts
  • Proficiency in claims management software and databases
  • Strong negotiation and decision-making skills
  • Excellent time management and organizational ability
  • Ability to work under pressure and adapt to changes in workload
  • Licensed in Property & Casualty Insurance or willing to obtain license
  • BA/BS degree in Business Administration or relevant field

 

Benefits

  • 401(k)
  • Health insurance
  • Dental insurance
  • Retirement plan
  • Paid time off
  • Professional development opportunities

 

Additional Information

  • Job Title: Commercial Claims Adjuster
  • Work Environment: Office setting with potential field work. Some travel may be required to inspect claims and meet with clients.
  • Reporting Structure: Reports to the Claims Manager or Director of Claims.
  • Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
  • Pay Range: $60,000 minimum to $90,000 maximum
  • Location: [City, State] (specify the location or indicate if remote)
  • Employment Type: Full-time
  • Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
  • Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

 

What Does a Commercial Claims Adjuster Do?

Commercial Claims Adjusters are professionals who work for insurance companies or as independent contractors across various industries.

Their primary responsibility is to investigate insurance claims, typically those that are made by businesses, to determine the validity of the claim and establish the appropriate payout.

This involves evaluating the details of the claim, inspecting any physical damages, and interviewing the claimant and any witnesses.

They also review insurance policies to understand the coverage terms and conditions, and apply those terms to the claim at hand.

Commercial Claims Adjusters often work closely with other insurance professionals and legal advisors to negotiate settlement amounts with policyholders.

They may also be involved in litigation processes where claims are disputed.

Their work requires a great deal of documentation, including recording detailed notes of investigations, preparing reports on each claim, and maintaining accurate records of claim activity.

Ultimately, the goal of a Commercial Claims Adjuster is to ensure that each claim they handle is resolved fairly, in accordance with the policy terms and based on a thorough investigation.

 

Commercial Claims Adjuster Qualifications and Skills

A competent Commercial Claims Adjuster should possess the following skills and qualifications:

  • Strong analytical skills to evaluate the validity and estimate the value of insurance claims.
  • Good knowledge of insurance law, policies, and procedures to accurately and fairly adjust claims.
  • Outstanding communication and interpersonal skills to liaise with claimants, insurers, and other parties involved in the claims process.
  • Excellent negotiation skills to settle claims in a fair and cost-effective manner.
  • Ability to manage multiple claims simultaneously, prioritizing tasks to meet deadlines.
  • Detail-oriented with a keen eye for spotting discrepancies in claim documents.
  • Strong mathematical skills for calculating claim values and settlement amounts.
  • Problem-solving skills to identify and address issues that may arise during the claim process.
  • Customer service skills to ensure a positive experience for all parties involved in the claim process.

 

Commercial Claims Adjuster Experience Requirements

Commercial Claims Adjusters typically have a background in business, finance, or a related field, and generally require at least 1 to 2 years of experience in the insurance industry.

This can be gained through entry-level roles such as Claims Assistant or Insurance Claims Trainee.

Some Commercial Claims Adjuster roles may require more specialized experience such as experience in property and casualty insurance claims, or commercial insurance adjusting.

This specialized experience usually requires 3 to 5 years of experience in the field.

Candidates with more than 5 years of experience have often gained significant knowledge and skills in evaluating and investigating complex commercial claims.

They may have also developed leadership abilities, and are usually considered for senior or managerial positions.

In addition, Commercial Claims Adjusters are expected to be certified or licensed by state regulatory bodies.

This involves passing an examination which in turn requires a thorough understanding of insurance laws, contracts, and claims adjustment procedures.

Practical experience in handling claims aids greatly in obtaining these certifications.

 

Commercial Claims Adjuster Education and Training Requirements

Commercial Claims Adjusters typically have a bachelor’s degree in business, finance, or a related field.

Coursework in areas like insurance law, business administration, public administration, economics, and finance is beneficial for this role.

In addition to a degree, many employers also require adjusters to be licensed.

Licensing requirements vary by state, but generally involve completing pre-licensure education or training and passing a state-administered exam.

Experience in the insurance industry, particularly in claims, can be advantageous.

Many adjusters gain this experience through internships or entry-level positions.

Commercial Claims Adjusters need to have strong analytical, negotiation and communication skills as they will need to evaluate claims, negotiate settlements, and communicate with claimants and other parties.

While not necessary, some adjusters may choose to earn professional certifications to demonstrate competence in the field.

These certifications may require passing an exam and fulfilling continuing education requirements.

Keeping up to date with changes in laws and regulations affecting insurance claims is important in this role.

Hence, ongoing professional development and training is encouraged.

 

Commercial Claims Adjuster Salary Expectations

A Commercial Claims Adjuster can expect an average salary of $59,960 (USD) per year.

The actual earnings could be different based on their experience, educational qualifications, the state they work in, and the size and reputation of their employer.

 

Commercial Claims Adjuster Job Description FAQs

What skills does a Commercial Claims Adjuster need?

A Commercial Claims Adjuster should possess excellent communication skills, as they need to interact with claimants, witnesses, and insurance agents.

They need strong analytical abilities to assess the validity of a claim and determine appropriate compensation.

Attention to detail is crucial to accurately evaluate and document claims.

They should also have negotiation skills to settle claims fairly and efficiently.

 

Do Commercial Claims Adjusters need a degree?

While some employers may not require a degree, many prefer candidates who have a bachelor’s degree in business, finance, or a related field.

However, practical experience in insurance adjusting or a similar field can sometimes be a substitute for formal education.

Most importantly, all Commercial Claims Adjusters need to be licensed by the state they work in.

 

What should you look for in a Commercial Claims Adjuster resume?

A resume for this role should highlight experience in claims adjustment, specifically within the commercial sector.

Look for skills in negotiation, investigation, and analysis.

Familiarity with insurance software can also be a plus.

Confirm that they hold a valid state license for claims adjustment.

Evidence of continuing education in insurance, law, or business is also beneficial.

 

What qualities make a good Commercial Claims Adjuster?

A good Commercial Claims Adjuster demonstrates strong integrity and objectivity, as they must make fair and unbiased assessments.

They should have excellent analytical skills to interpret complex insurance policies and claims.

Good interpersonal skills are also important, as they often deal with distressed claimants.

Lastly, they should be efficient and organized, as they often manage multiple claims simultaneously.

 

What is the usual workload of a Commercial Claims Adjuster?

Commercial Claims Adjusters often manage multiple claims at once, each at various stages of the settlement process.

Their daily tasks might include investigating new claims, negotiating settlements, or reviewing policy details.

They often work with a range of individuals, including claimants, attorneys, and insurance agents.

The workload can be demanding, particularly after major events that cause widespread property damage.

 

Conclusion

And there you have it.

Today, we’ve unraveled the intricate details of what it truly means to be a Commercial Claims Adjuster.

And guess what?

It’s not just about assessing damages.

It’s about weaving the fabric of fair compensation, one claim at a time.

Armed with our definitive Commercial Claims Adjuster job description template and real-world examples, you’re fully prepared to take the next step.

But why stop there?

Dive deeper with our job description generator. It’s your ultimate tool for creating precisely tailored job listings or fine-tuning your resume to perfection.

Remember:

Every claim is a part of a larger narrative.

Let’s shape that story. Together.

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