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The duty of a loss assessor is to ensure

Insurance
WAEC 2016

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
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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 loss assessor receives a fee that is usually a percentage of the claim amount received by the insured.


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WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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